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PHILADELPHIA ELECTRIC COMPANY TO OFFER TO PURCHASE BONDS

 PHILADELPHIA, Nov. 3 /PRNewswire/ -- Philadelphia Electric Company (NYSE: PE) (PE) today said it is offering to purchase, through Goldman, Sachs & Co., any and all of its outstanding First and Refunding Mortgage Bonds, 10 percent Series due 2000, 9-7/8 percent Series due 2019, 10 percent Series due 2019, and 10-1/2 percent Series due 2020, with a face value of $475,000,000 upon the terms and subject to the conditions set forth in its Offer to Purchase.
 Goldman Sachs will serve as the exclusive dealer managers of the Offer to Purchase.
 The purchase price for any bond of a series subject to the offer will be calculated by using the yield to maturity of the benchmark U.S. Treasury designated for such series at the time the holder accepts the offer plus a fixed spread as shown below.
 U.S. Treasury
 Security Benchmark Fixed Spread
 10 percent Series due 2000 8-5/8 percent Notes 0.15 percent
 due 10/15/1995
 9-7/8 percent Series due 2019 4 percent Notes 0.10 percent
 due 9/30/1994
 10 percent Series due 2019 5 percent Notes 0.10 percent
 due 6/30/1994
 10-1/2 percent Series due 2020 8-5/8 percent Notes 0.15 percent
 due 10/15/1995
 In addition, Philadelphia Electric Company will pay accrued interest on such bonds to, but not including, the date of the settlement.
 Bondholders may obtain a quote of the purchase price for the bonds at a particular time by contacting their Goldman Sachs sales representative or by calling 800-828-3182.
 The offer to purchase expires at 5 p.m. New York City time, Nov. 10, 1993, unless extended by Philadelphia Electric Company or terminated earlier. The date of settlement will be five business days after the date of each acceptance.
 Georgeson & Company Inc. will act as information agent for Philadelphia Electric Company in connection with the Offer to Purchase.
 /delval/
 -0- 11/3/93
 /CONTACT: Diann Sweeney, 215-841-6996, or Bill Jones, 215-841-4129, of Philadelphia Electric/
 (PE)


CO: Philadelphia Electric Company ST: Pennsylvania IN: UTI SU: MP -- PH007 -- 0032 11/03/93 10:05 EST
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Publication:PR Newswire
Date:Nov 3, 1993
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