Pepco Holdings Teleconference – Review of First-Quarter 2004 Earnings

Monday, April 19, 2004

Pepco Holdings, Inc. (NYSE: POM) has scheduled its quarterly earnings conference call on Monday, May 10, 2004 at 9:00 a.m. EDT . First-quarter 2004 earnings will be released May 7.

Individual investors, members of the media and other interested persons may access the conference call on the Internet at http://www.pepcoholdings.com/investors or via telephone by calling (800) 884-5695 before 8:55 a.m. EDT . An on-demand replay will be available for seven days following the call. To hear the replay, dial (888) 286-8010 and enter passcode 64770188. An audio archive will also be available at PHI’s Web site.

Note: If any non-GAAP financial information (as defined by the Securities and Exchange Commission in Regulation G) is used during the quarterly earnings conference call, a presentation of the most directly comparable GAAP measure and a reconciliation of the differences, will be available at www.pepcoholdings.com/investors/index_financialrelease.html.

About PHI: Pepco Holdings, Inc. is a diversified energy company with headquarters in Washington, D.C. Its principal operations consist of Pepco and Conectiv Power Delivery, which deliver 50,000 gigawatt-hours of power to more than 1.8 million customers in Washington, Delaware, Maryland, New Jersey and Virginia. PHI engages in regulated utility operations by delivering electricity and natural gas, and provides competitive energy and energy products and services to residential and commercial customers.