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PHILADELPHIA ELECTRIC COMPANY RELEASES REVISED ANNOUNCEMENT REGARDING $9.50 PREFERRED STOCK SINKING FUND

 PHILADELPHIA, Sept. 29 /PRNewswire/ -- Philadelphia Electric Company (NYSE: PE) this afternoon issued the following press release, revising PH018 issued earlier today:
 Philadelphia Electric Company announced today that it will redeem 37,500 shares of its $9.50 Preferred Stock to satisfy a Nov. 1, 1993, sinking fund requirement.
 The company also intends to exercise its option to redeem an additional 37,500 shares. With the exercise of this option, there will be no outstanding shares in the $9.50 Preferred Stock.
 The redemption price will be $100 per share.
 /delval/
 -0- 9/29/93
 /CONTACT: George Shicora of Philadelphia Electric, 215-841-5741/
 (PE)


CO: Philadelphia Electric Company ST: Pennsylvania IN: UTI SU:

MK -- PH029 -- 6892 09/29/93 14:28 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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