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Pepco Holdings to Offer Additional Common Stock


Pepco Holdings, Inc. (NYSE: POM) announced today that it intends to offer 17.5 million shares of its common stock through a group of underwriters led by Morgan Stanley & Co. Inc., Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. as joint book running managers. Joint lead managers for the offering are Banc of America Securities LLC and Wachovia Capital Markets, LLC. Net proceeds from this offering will be used to repay short-term debt and for general corporate purposes. Pepco Holdings also expects to grant the underwriters a 30-day option to purchase an additional 2,625,000 shares to cover any over-allotments.

Pepco Holdings has filed a registration statement (including a prospectus and a preliminary prospectus supplement) with the Securities and Exchange Commission for the offering. Before you invest, you should read the prospectus in that registration statement, preliminary prospectus supplement and other documents Pepco Holdings has filed with the SEC for more complete information about Pepco Holdings and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at Alternatively, Pepco Holdings, any underwriter or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling Morgan Stanley & Co. Incorporated toll-free at 1-866-718-1649, Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037, J.P. Morgan Securities Inc. toll-free at 1- 866-430-0686.


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