Pepco Holdings Announces Executive Changes

Business Wire, May 29, 2008

WASHINGTON -- Joseph M. Rigby, President and Chief Operating Officer of Pepco Holdings, Inc. (NYSE:POM), today announced personnel changes reflecting the company's commitment to build and maintain a strong, diverse and dynamic management team.

Hallie M. Reese, currently Vice President, Gas Delivery for Delmarva Power, a wholly owned subsidiary of PHI, will assume the role of Vice President, Safety and Strategic Services. In her new role, Reese will be responsible for corporate safety and security, all PHI facilities, managing the fleet and real estate holdings as well as the utilities' supply chain, including logistics and sourcing.

Reese began her career with the company in 1990 as an Auditor. Since then, she has held numerous leadership positions in audit management. Other key roles, held by Reese, include Assistant Controller; Director, IT Planning and Finance; Director, Business Systems and Vice President, Business Systems, Budgeting and Planning.

A New Jersey native, Reese graduated from Rutgers University with a Bachelor of Science in Accounting and a minor in Marketing. She is a Certified Public Accountant. Prior to PHI, Reese worked with Deloitte Touche.

Mike Poncia, currently Process Manager, Customer Relationship Management, will assume the lead role in the gas division as a result of Reese's appointment to Safety and Strategic Services. As Director, Gas Delivery for Delmarva Power, Poncia will be responsible for all aspects of planning, engineering, construction, operations and maintenance for the regulated gas utility which serves approximately 120,000 customers in New Castle County, DE.

Poncia brings 22 years of experience in the regulated and unregulated areas of the energy business to this new role. Poncia joined the company in 1997, and has held key roles in Customer Care and has been instrumental in driving continuous process improvements across many areas of Customer Care. Poncia also has served as Manager, Energy Markets, while with Conectiv Retail Energy in the company's retail energy business. Prior to joining the company, Poncia worked for PECO Energy - Exelon in a variety of engineering, project management, construction and account management roles.

A Pennsylvania native, Poncia has a Bachelors and Masters Degree in Civil Engineering from Drexel University.

Reese and Poncia will both report to Michael J. Sullivan, Sr. Vice President, Operations for PHI's regulated utility subsidiaries. "As the power delivery industry changes, we too need to make changes that support our long-term efforts in being a premier organization," said Sullivan. "The best way to achieve this goal is by putting talented individuals in key roles. Hallie and Mike fit that mold."

These promotions are effective June 1.

About PHI: Pepco Holdings, Inc., headquartered in Washington, D.C., delivers electricity and natural gas to about 1.9 million customers in Delaware, the District of Columbia, Maryland, and New Jersey, through its subsidiaries Pepco, Delmarva Power and Atlantic City Electric. PHI also provides competitive wholesale generation services through Conectiv Energy and retail energy products and services through Pepco Energy Services.