Black Enterprise Again Names PHI an Industry Leader in Diversity

Pepco Holdings, Inc. (NYSE:POM) has been named by Black Enterprise Magazine as among the Top 40 Best Companies For Diversity for the third year in a row. Black Enterprise, a leading business and investment publication for African Americans, announced the awards in New York City on June 13 and will publish the complete list of cited companies in its July 2007 issue. In selecting the listed companies, Black Enterprise's editors evaluated companies' diversity programs, consulted with diversity experts and corporate diversity officers and conducted an extensive survey of 1,000 of America's largest publicly traded companies and 50 leading global companies with significant U.S. operations. The companies that made the list outperformed other corporations in their peer group in significant representation of African Americans and other ethnic minorities in four key categories: supplier diversity, senior management, board of directors, and total employee base. PHI was cited for recognized strengths in supplier diversity, senior management and total employee base. "It's truly an honor to be included on Black Enterprise's list for three straight years," says Joy Dorsey, PHI's Director of Diversity and Human Resource Strategic Planning. "PHI continues to work long and hard to earn it. Diversity is a core value at PHI and we strive to be one of America's leading companies and an employer of choice in this area." This year Black Enterprise decided to draw a more definitive line to the commitment that companies have made to diversity by weighing more heavily on two of the four categories: procurement and senior management. PHI was recognized as one of the 15 Best in Senior Management Diversity. About PHI: Pepco Holdings, Inc., headquartered in Washington, D.C., is an energy delivery company serving about 1.8 million customers in Delaware, the District of Columbia, Maryland, New Jersey and Virginia. PHI subsidiaries Pepco, Delmarva Power and Atlantic City Electric provide regulated electricity service; Delmarva Power also provides natural gas service. PHI provides competitive wholesale generation services through Conectiv Energy and retail energy products and services through Pepco Energy Services. Forward-Looking Statements: Except for historical statements and discussions, the statements in this news release constitute "forward-looking statements" within the meaning of federal securities law. These statements contain management's beliefs based on information currently available to management and on various assumptions concerning future events. Forward-looking statements are not a guarantee of future performance or events. They are subject to a number of uncertainties and other factors, many of which are outside the company's control. Factors that could cause actual results to differ materially from those in the forward-looking statements herein include general economic, business and financing conditions; availability and cost of capital; changes in laws, regulations or regulatory policies; weather conditions; competition; governmental actions; and other presently unknown or unforeseen factors. These uncertainties and factors could cause actual results to differ materially from such statements. PHI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This information is presented solely to provide additional information to further understand the results and prospects of PHI.