CORRECTING and REPLACING Pepco Holdings Declares Third Quarter Dividend

WASHINGTON--(BUSINESS WIRE)--

Headline of release should read: Pepco Holdings Declares Third Quarter Dividend (instead of Pepco Holdings Declares Second Quarter Dividend).

The corrected release reads:

PEPCO HOLDINGS DECLARES THIRD QUARTER DIVIDEND

Pepco Holdings Inc. POM announced Thursday that its board of directors declared a quarterly dividend of $0.27 per share on Pepco Holdings' common stock that is payable on Sept. 30, 2015, to shareholders of record on Sept. 10, 2015, assuming the company's proposed merger with Exelon Corporation does not close on or prior to the close of business on Sept. 10, 2015.

Pepco Holdings previously declared a pro-rata dividend in the event the proposed merger with Exelon closes before September 10, 2015. If the merger closes before the close of business on Sept. 10, 2015, the record date for the third quarter dividend, shareholders will receive a pro-rated dividend equal to $0.002967 per share of common stock per day from, but not including, June 10, 2015 – the record date for the second quarter dividend – and ending the day immediately prior to the effective time of the merger. The pro-rata dividend, which is the daily equivalent of 27 cents per share of common stock for the full quarter (assuming 91 days in the quarter), will be paid 20 days after the closing date of the merger to shareholders of record on the date immediately prior to the effective time of the merger. Payment of a pro-rata dividend ensures that Pepco Holdings' common stockholders continue to receive dividends at the current rate until the closing of the merger.

Pepco Holdings, Inc. POM is one of the largest energy delivery companies in the Mid-Atlantic region, serving about 2 million customers in Delaware, the District of Columbia, Maryland and New Jersey. PHI subsidiaries, Pepco, Delmarva Power and Atlantic City Electric, provide regulated electricity service; Delmarva Power also provides natural gas service. Through Pepco Energy Services, PHI also provides energy savings performance contracting services, underground transmission and distribution construction and maintenance services, and steam and chilled water under long-term contracts.

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