PHI Declares Quarterly Dividend

Pepco Holdings, Inc.’s (NYSE: POM) Board of Directors today declared a quarterly dividend on common stock of 27 cents per share payable Dec. 31, 2008, to shareholders of record on Dec. 10, 2008.

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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, New Jersey and Virginia, 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.