For Immediate Release
WASHINGTON, D.C. (March 26, 2015) - Not since Benjamin Franklin headed out in a lightning storm has kite-flying been so closely linked with electricity. Energy company Exelon Corporation and electric utility Pepco are pleased to sponsor the 2015 Blossom Kite Festival, one of the District's most popular annual events, attracting kite enthusiasts from across the U.S. and around the world.Part of the National Cherry Blossom Festival, the Blossom Kite Festival takes place on Saturday, March 28, from 10 a.m. to 4:30 p.m. on the National Mall located at Constitution Avenue & 17th Street, N.W. The event is free to the public. "Just in time for spring, the Blossom Kite Festival offers outdoor fun and entertainment for families in the District and beyond, and we are honored to be a part of it," said Melissa Sherrod, Exelon vice president of corporate affairs. "Children and adults alike should bring their creativity and innovation to these hands-on activities."
Visitors to the Blossom Kite Festival will be treated to activity tents where children can make kites, decorate bookmarks and wind socks, receive lessons from experienced kite-fliers and visit the Kite Doctor to repair damaged or broken kites. Families can also get expert advice and practice new skills.
"The Cherry Blossom Festival brings together Washington area residents and those touring our great city to celebrate spring," said Donna Cooper, Pepco region president.
"The National Cherry Blossom Festival is thrilled to have Pepco and Exelon's engagement as the presenting sponsors of the Blossom Kite Festival, an annual tradition and one of the most beloved events of the Festival, said Dianna Mayhew, president National Cherry Blossom Festival. "This support enables the Festival to continue present events such as this free and for local residents and visitors to enjoy."
Pepco and Exelon are presenting sponsors of the festival's Youth Kite Makers Competition from 11 a.m. to 12 p.m. Children up to age 15 will have the opportunity to compete individually or in teams by flying kites they make themselves, with first, second and third place prizes in multiple age categories.
Exelon and Pepco proposed merging their companies in April 2014. Among the many commitments the companies have made to benefit Pepco customers and their communities are maintaining Pepco's local presence in the community and providing average annual charitable giving of more than $1.6 million - Pepco's 2013 giving - for 10 years following the merger. Learn more at www.PHITomorrow.com. Major attractions at the Blossom Kite Festival include the precision flying and thrilling aerial maneuvers of the Rokkaku Battle and Hot Tricks Showdown. The Rokkaku Battle features hexagonal-shaped fighter kites commonly flown in Japan and now in many other parts of the world. In the battle, teams of kite fliers compete to cut or ground opposing kites.
The Hot Tricks Showdown is a competition in which multi-line kite fliers engage in a series of one-on-one competitions and maneuver their sport kites in amazing flight patterns during 30 seconds of music. The winners are selected by audience applause.
About Exelon Corporation
Exelon Corporation (NYSE: EXC) is the nation's leading competitive energy provider, with 2014 revenues of approximately $27.4 billion. Headquartered in Chicago, Exelon does business in 48 states, the District of Columbia and Canada. Exelon is one of the largest competitive U.S. power generators, with more than 32,000 megawatts of owned capacity comprising one of the nation's cleanest and lowest-cost power generation fleets. The company's Constellation business unit provides energy products and services to more than 2.5 million residential, public sector and business customers, including more than two-thirds of the Fortune 100. Exelon's utilities deliver electricity and natural gas to more than 7.8 million customers in central Maryland (BGE), northern Illinois (ComEd) and southeastern Pennsylvania (PECO). Follow Exelon on Twitter @Exelon.
About Pepco Pepco, a subsidiary of Pepco Holdings, Inc. (NYSE: POM), delivers safe and reliable electric service to more than 801,000 customers in Maryland and the District of Columbia. For more information, visit online: www.pepco.com.
Cautionary Statements Regarding Forward-Looking Information
Except for the historical information contained herein, certain of the matters discussed in this communication constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, both as amended by the Private Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "could," "anticipate," "estimate," "expect," "predict," "project," "future", "potential," "intend," "seek to," "plan," "assume," "believe," "target," "forecast," "goal," "objective," "continue" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed merger, integration plans and expected synergies, the expected timing of completion of the transaction, anticipated future financial and operating performance and results, including estimates for growth. These statements are based on the current expectations of management of Exelon Corporation (Exelon) and Pepco Holdings, Inc. (PHI), as applicable. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, (1) the companies may be unable to obtain regulatory approvals required for the merger, or required regulatory approvals may delay the merger or cause the companies to abandon the merger; (2) conditions to the closing of the merger may not be satisfied; (3) an unsolicited offer of another company to acquire assets or capital stock of Exelon or PHI could interfere with the merger; (4) problems may arise in successfully integrating the businesses of the companies, which may result in the combined company not operating as effectively and efficiently as expected; (5) the combined company may be unable to achieve cost-cutting synergies or it may take longer than expected to achieve those synergies; (6) the merger may involve unexpected costs, unexpected liabilities or unexpected delays, or the effects of purchase accounting may be different from the companies' expectations; (7) the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; (8) the businesses of the companies may suffer as a result of uncertainty surrounding the merger; (9) the companies may not realize the values expected to be obtained for properties expected or required to be sold; (10) the industry may be subject to future regulatory or legislative actions that could adversely affect the companies; and (11) the companies may be adversely affected by other economic, business, and/or competitive factors. Other unknown or unpredictable factors could also have material adverse effects on future results, performance or achievements of the combined company. Therefore, forward-looking statements are not guarantees or assurances of future performance, and actual results could differ materially from those indicated by the forward-looking statements. Discussions of some of these other important factors and assumptions are contained in Exelon's and PHI's respective filings with the Securities and Exchange Commission (SEC), and available at the SEC's website at www.sec.gov, including: (1) Exelon's 2013 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 22; (2) Exelon's Third Quarter 2014 Quarterly Report on Form 10-Q in (a) Part II, Other Information, ITEM 1A. Risk Factors; (b) Part 1, Financial Information, ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and (c) Part I, Financial Information, ITEM 1. Financial Statements: Note 18; (3) the definitive proxy statement that PHI filed with the SEC on August 12, 2014 and mailed to its stockholders in connection with the proposed merger (as supplemented by PHI's Form 8-K filed with the SEC on September 12, 2014); (4) PHI's 2013 Annual Report on Form 10-K in (a) ITEM 1A. Risk Factors, (b) ITEM 7. Management's Discussion and Analysis of Financial Condition and Results of Operations and (c) ITEM 8. Financial Statements and Supplementary Data: Note 15; and (5) PHI's Third Quarter 2014 Quarterly Report on Form 10-Q in (a) PART I, ITEM 1. Financial Statements, (b) PART I, ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations and (c) PART II, ITEM 1A. Risk Factors. In light of these risks, uncertainties, assumptions and factors, the forward-looking events discussed in this communication may not occur. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this communication. Neither Exelon nor PHI undertakes any obligation to publicly release any revision to its forward-looking statements to reflect events or circumstances after the date of this communication. New factors emerge from time to time, and it is not possible for Exelon or PHI to predict all such factors. Furthermore, it may not be possible to assess the impact of any such factor on Exelon's or PHI's respective businesses or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement. Any specific factors that may be provided should not be construed as exhaustive.
Media Contacts: Exelon - Paul Elsberg - 312-394-7417Pepco Holdings - Courtney Nogas - 202-872-2860