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PHILADELPHIA ELECTRIC ELECTS BELL ATLANTIC EXECUTIVE AS CHIEF FINANCIAL OFFICER

 PHILADELPHIA ELECTRIC ELECTS BELL ATLANTIC
 EXECUTIVE AS CHIEF FINANCIAL OFFICER
 PHILADELPHIA, Jan. 29 /PRNewswire/ -- Philadelphia Electric Company (NYSE: PE) announced today that William L. Bardeen, 53, has been elected to the position of senior vice president and chief financial officer, effective Feb. 18, 1992.
 Bardeen, currently vice president-finance and controller for Bell Atlantic Corporation, will replace Richard G. Gilmore who retired in 1991.
 Bardeen began his career with the General Electric Company (GE), where he was employed for 22 years. He is a graduate of GE's Financial Management Program, spent four years as a corporate auditor, and held a number of key financial management positions.
 Bardeen joined Bell Atlantic Corporation, a telecommunications company with $12 billion in revenues headquartered in Philadelphia, in July 1984 and has served in his current capacity since 1988.
 Joseph F. Paquette Jr., PE chairman and chief executive officer, said: "PE is very fortunate to attract a seasoned professional of Bill Bardeen's calibre especially with his unique combination of extensive regulatory and industrial finance and accounting experience, at a time when the electric utility industry faces many of the challenges and opportunities of a changing regulatory climate already experienced by the telecommunications industry.
 "Since the AT&T break-up, Bell Atlantic has maintained a reputation as the most efficient regional telephone company and Bill Bardeen has been an important player in the Bell Atlantic management team that achieved that success."
 Paquette also noted, "With PE's stated goal of not raising electric base rates over the next three years, strengthened cost-control measures, improved budgeting and financial planning, and increasing employee productivity will be crucial elements in our corporate strategy that must be accomplished successfully. Bill Bardeen's financial skills and vast industrial experience in the areas of controllership, budgeting, auditing and planning will make him a valuable member of the PE senior management team in addressing these challenges and in our efforts to improve the return on our shareholder's investment."
 Bardeen and his wife, Linda, reside in Devon, Pa., a Philadelphia suburb. The couple have three grown children. He is a native of Elmira, New York and he earned an Industrial Administration degree at Union College in Schenectady, N.Y. He is a member of the Financial Executives Institute and has been active in numerous community activities.
 PE and its subsidiaries serve 1.6 million customers in Southeastern Pennsylvania and Northeastern Maryland, with annual electric and gas revenues of $4 billion.
 /delval/
 -0- 1//92
 /CONTACT: Neil McDermott of Philadelphia Electric, 215-841-4122/
 (PE) CO: Philadelphia Electric Company; Bell Atlantic Corporation ST: Pennsylvania IN: UTI SU: PER


CC -- PH012 -- 4657 01/29/92 10:51 EST
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Publication:PR Newswire
Date:Jan 29, 1992
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