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ALTERNATIVE DISPUTE RESOLUTION RESULTS IN LANDMARK $131 MILLION SETTLEMENT OF PEACH BOTTOM CLAIMS

 ALTERNATIVE DISPUTE RESOLUTION RESULTS IN
 LANDMARK $131 MILLION SETTLEMENT OF PEACH BOTTOM CLAIMS
 PHILADELPHIA, April 2 /PRNewswire/ -- Almost five years after the Nuclear Regulatory Commission shut down the Peach Bottom Atomic Power Station, Philadelphia Electric Company (NYSE: PE) has agreed to pay the co-owners of the plant $130,985,000 in cash on Oct. 1, 1992, to settle claims brought in 1988 concerning PE's management and operation of the plant.
 The co-owners of the Peach Bottom plant are Delmarva Power and Light (NYSE: DEW), Atlantic City Electric and Public Service Electric and Gas Company.
 Dechert Price & Rhoads partners Richard C. Rizzo and Fred T. Magaziner represented Atlantic Electric and Delmarva Power. The Washington, D.C. law firm of Newman & Holtzinger represented Public Service.
 With trial scheduled for May 18, 1992, PE and the co-owners agreed to an "alternative dispute resolution" (ADR) procedure to see whether trial could be avoided. Judge Harold R. Tyler Jr., formerly a U.S. district judge for the Southern District of New York, acted as a mediator in the ADR proceedings. Present at these proceedings, which were conducted at the Philadelphia offices of Dechert Price & Rhoads, were the chief executive officers and general counsels of the four public utilities, as well as outside counsel for each utility.
 Commenting on the settlement, Rizzo stated, "The Peach Bottom co- owners were prepared to try this case to a jury. The ADR proceedings, however, resulted in a very satisfactory settlement while avoiding the expense of a prolonged jury trial. Although ADR is not the right thing for every commercial dispute, ADR made sense in this case since the litigants are all electric utilities with many ongoing business relationships."
 Dechert Price & Rhoads, founded in 1875, ranks among the largest 35 law firms in the United States, with more than 400 lawyers in eight offices located in Philadelphia, New York, Washington, Boston, Princeton, Harrisburg, Brussels and London.
 /delval/
 -0- 4/2/92
 /CONTACT: Richard C. Rizzo, 215-994-2641, or Fred T. Magaziner, 215-994-2587, both of Dechert Price & Rhoads/
 (PE DEW) CO: Dechert Price & Rhoads; Philadelphia Electric Company ST: Pennsylvania IN: UTI SU:


MK-CC -- PH027 -- 4391 04/02/92 12:32 EST
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Date:Apr 2, 1992
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