Pepco 8-K Filing Shows Company Opposing Maryland Stay Request

"As previously disclosed, on April 29, 2014, Pepco Holdings, Inc., a Delaware corporation (Pepco Holdings), entered into an Agreement and Plan of Merger with Exelon Corporation, a Pennsylvania corporation (Exelon), and Purple Acquisition Corp., a Delaware corporation and an indirect, wholly owned subsidiary of Exelon (Merger Sub), which was amended and restated on July 18, 2014, providing for the merger of Merger Sub with and into Pepco Holdings (the Merger), with Pepco Holdings surviving the Merger as a wholly owned subsidiary of Exelon. Furthermore, as previously disclosed, (i) on May 15, 2015, Pepco Holdings and Exelon announced that the Maryland Public Service Commission (MPSC) issued an order approving the Merger (the MPSC Order), with conditions, including conditions that modify and supplement those originally proposed, and (ii) on May 18, 2015, Pepco Holdings and Exelon announced that they completed their review of the MPSC Order and committed to fulfill the modified, more stringent conditions and package of customer benefits imposed by the MPSC. Following the issuance of the MPSC Order, the Maryland Office of People's Counsel and others filed Petitions for Judicial Review seeking to appeal the MPSC Order. On July 21, 2015, the Maryland Office of People's Counsel filed a Motion in the Circuit Court for Queen Anne's County, Maryland, requesting a stay of the MPSC Order and to conduct additional discovery and present additional evidence (the Motion) in light of an alleged conflict of interest on the part of a former MPSC Commissioner. Pepco Holdings believes the Motion is without merit and intends to vigorously oppose it and any other attempts to impede the effectiveness of the MPSC Order or delay the closing of the Merger. A copy of the Motion will be made available on Pepco Holdings' Web site (http://www.pepcoholdings.com). A copy of the Petitions are also available on such Web site. Investors may access copies of this information (among other documents and information) through the "Regulatory Filings" hyperlink on the Investor Relations page of this Web site. The Merger remains subject to approval by the Public Service Commission of the District of Columbia. Pepco Holdings continues to expect to complete the Merger with Exelon in the third quarter of 2015."