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PHILADELPHIA ELECTRIC ISSUES ANNOUNCEMENT RELATED TO REDEMPTION OF $15.25 AND $14.625 PREFERRED STOCK

 PHILADELPHIA ELECTRIC ISSUES ANNOUNCEMENT RELATED TO
 REDEMPTION OF $15.25 AND $14.625 PREFERRED STOCK
 PHILADELPHIA, May 29 /PRNewswire/ -- Philadelphia Electric Company (NYSE: PE) announced today its intention to call for redemption on July 1, 1992, all of the outstanding $15.25 and $14.625 Preferred Stock.
 The $15.25 Preferred Stock will be redeemed at a redemption price of $105.00 per share and the $14.625 Preferred Stock at $104.35 per share. Both issues will also receive an amount equal to accrued and unpaid dividends up to the redemption date.
 Shareholders will be notified prior to the redemption date. This notification will detail steps that are to be followed for the redemption process.
 /delval/
 -0- 5/29/92
 /CONTACT: Bill Jones of Philadelphia Electric, 215-841-4129/
 (PE) CO: Philadelphia Electric Company ST: Pennsylvania IN: UTI SU:


CC -- PH033 -- 5266 05/29/92 15:02 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:May 29, 1992
Words:147
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