Exhibit 99
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[BGE and Pepco Letterhead]


                                  NEWS RELEASE
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Oct. 29, 1997                          Contact: Art Slusark (BGE)   410-234-7433
FOR IMMEDIATE RELEASE                           Susan Moyer (PEPCO) 202-872-2680


         BGE/PEPCO PLEASED WITH COURT DECISION REJECTING UNION LAWSUIT
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     A Baltimore County Circuit Court's decision  rejecting a lawsuit brought by
the International  Brotherhood of Electrical  Workers was applauded by officials
from the Baltimore Gas and Electric Co. and Potomac Electric Power Co., who said
they will continue to seek a prompt resolution of their merger from the Maryland
Public Service Commission.

     "We said all  along  the  union's  case was  without  merit  and  clearly a
delaying  tactic," said BGE Chairman and Chief  Executive  Officer  Christian H.
Poindexter  and PEPCO Chief  Executive  Officer John M. Derrick.  "This decision
moves us one step closer to our goal of merging our two  companies  and creating
Constellation Energy Corporation."

In his opinion and order,  Judge James T. Smith  wrote,  "There was  substantial
evidence in the record to support the PSC's conclusions and  determination  that
the merger as approved is in the public interest."

On April 16, the PSC  approved  the merger with  financial  conditions  attached
under  which the merger  could not  proceed.  On May 2,  BGE/PEPCO  requested  a
rehearing of the order to address those  conditions.  However,  that process was
put on hold  because the IBEW asked for judicial  review of the original  order,
appealing it to Baltimore County Circuit Court. This court decision affirmed the
PSC's  original  order.  This should now allow the PSC to address the  rehearing
request.

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