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<FONT SIZE=3 COLOR="#ff0000"><P ALIGN="LEFT">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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As filed with the Securities and Exchange Commission on July&nbsp;18, 2002</FONT><FONT FACE="BauerBodni BT,Times New Roman" SIZE=3 COLOR="#ff0000">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
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Registration No.&nbsp;333-&nbsp;
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<B><FONT SIZE=4><P ALIGN="CENTER">SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D. C.   20549</B></FONT></TD>
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<TR><TD VALIGN="TOP" COLSPAN=8 HEIGHT=101>
<B><FONT SIZE=3><P ALIGN="CENTER">Form S-8<BR>
REGISTRATION STATEMENT<BR>
under<BR>
THE SECURITIES ACT OF 1933<BR>
</B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
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<TR><TD VALIGN="TOP" COLSPAN=8>
<B><P ALIGN="CENTER">PEPCO HOLDINGS, INC.</B> <BR>
<FONT SIZE=2>(Exact name of registrant as specified in its charter)</FONT></TD>
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<TR><TD WIDTH="43%" VALIGN="TOP" COLSPAN=4 HEIGHT=54>
<B><FONT SIZE=3><P ALIGN="CENTER">Delaware</FONT><BR>
</B><FONT SIZE=2>(State or other jurisdiction<BR>
of incorporation)</FONT></TD>
<TD WIDTH="24%" VALIGN="TOP" COLSPAN=2 HEIGHT=54><P></P></TD>
<TD WIDTH="33%" VALIGN="TOP" COLSPAN=2 HEIGHT=54>
<B><FONT SIZE=3><P ALIGN="CENTER">52-2297449</B></FONT><BR>
<FONT SIZE=2>(I.R.S. Employer <BR>
Identification No.)</FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=8 HEIGHT=96>
<U><FONT SIZE=3><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U><B>701 Ninth Street, NW<BR>
Washington, D.C.  20068<BR>
</B></FONT><FONT SIZE=2>(Address, including zip code, of registrant's principal executive offices)<BR>
</FONT><U><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
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<TR><TD VALIGN="TOP" COLSPAN=8 HEIGHT=81>
<B><FONT SIZE=3><P ALIGN="CENTER">Conectiv Savings and Investment Plan <BR>
Atlantic Electric 401(k) Savings and Investment Plan-B<BR>
</B> </FONT><FONT SIZE=2>(Full title of plans)<BR>
</FONT><U><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
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<TR><TD VALIGN="TOP" COLSPAN=8 HEIGHT=90>
<B><FONT SIZE=3><P ALIGN="CENTER">Ellen Sheriff Rogers<BR>
Vice President and Assistant Secretary<BR>
Pepco Holdings, Inc.<U><BR>
</U>701 Ninth Street, N.W.<BR>
Washington, D.C.  20068<BR>
(202) 872-3526</FONT><U><FONT SIZE=2><BR>
</B></U>(Name, address and telephone number,  including area code, of agent for service)<BR>
</FONT><U><FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
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<TR><TD VALIGN="TOP" COLSPAN=8 HEIGHT=39>
<B><U><FONT SIZE=3><P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
</U>CALCULATION OF REGISTRATION FEE</B></FONT></TD>
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<TR><TD WIDTH="21%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=41>
<B><FONT SIZE=2><P ALIGN="CENTER">Title of Securities to<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Be Registered</B></FONT></TD>
<TD WIDTH="17%" VALIGN="BOTTOM" HEIGHT=41>
<B><FONT SIZE=2><P ALIGN="CENTER">Amount to Be<BR>
&nbsp;&nbsp;&nbsp;&nbsp;Registered</B></FONT></TD>
<TD WIDTH="22%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=41>
<B><FONT SIZE=2><P ALIGN="CENTER">Proposed Maximum<BR>
Offering Price per<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Share</B></FONT></TD>
<TD WIDTH="21%" VALIGN="BOTTOM" COLSPAN=2 HEIGHT=41>
<B><FONT SIZE=2><P ALIGN="CENTER">Proposed Maximum<BR>
Aggregate<BR>
Offering Price</B></FONT></TD>
<TD WIDTH="19%" VALIGN="BOTTOM" HEIGHT=41>
<B><FONT SIZE=2><P ALIGN="CENTER">Amount of<BR>
Registration Fee</B></FONT></TD>
</TR>
<TR><TD WIDTH="21%" VALIGN="TOP" COLSPAN=2 HEIGHT=42>
<FONT SIZE=2><P>Common Stock,<BR>
$0.01 par value (1)</FONT></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=42>
<FONT SIZE=2><P ALIGN="CENTER"><BR>
45,000 (2)</FONT></TD>
<TD WIDTH="22%" VALIGN="TOP" COLSPAN=2 HEIGHT=42>
<FONT SIZE=2><P ALIGN="CENTER"><BR>
$18.1365 (3)</FONT></TD>
<TD WIDTH="21%" VALIGN="TOP" COLSPAN=2 HEIGHT=42>
<FONT SIZE=2><P ALIGN="CENTER"><BR>
$815,850 (3)</FONT></TD>
<TD WIDTH="19%" VALIGN="TOP" HEIGHT=42>
<FONT SIZE=2><P ALIGN="CENTER"><BR>
$75.06 (3)</FONT></TD>
</TR>
<TR><TD WIDTH="6%" VALIGN="TOP" HEIGHT=34>
<FONT SIZE=3><P>(1)</FONT></TD>
<TD WIDTH="94%" VALIGN="TOP" COLSPAN=7 HEIGHT=34>
<FONT SIZE=3><P>Includes pursuant to Rule&nbsp;416(c) under the Securities Act of 1933, as amended (&quot;1933 Act&quot;), an indeterminate amount of plan participation interests.</FONT></TD>
</TR>
<TR><TD WIDTH="6%" VALIGN="TOP" HEIGHT=28>
<FONT SIZE=3><P>(2)</FONT></TD>
<TD WIDTH="94%" VALIGN="TOP" COLSPAN=7 HEIGHT=28>
<FONT SIZE=3><P>Pursuant to Rule 416(a) under the 1933 Act, the number of shares of Common Stock registered hereby is subject to adjustment to prevent dilution by reason of any stock dividend, stock split, recapitalization or similar transaction that results in an increase in the number of outstanding shares of Common Stock.</FONT></TD>
</TR>
<TR><TD WIDTH="6%" VALIGN="TOP" HEIGHT=22>
<FONT SIZE=3><P>(3)</FONT></TD>
<TD WIDTH="94%" VALIGN="TOP" COLSPAN=7 HEIGHT=22>
<FONT SIZE=3><P>Calculated in accordance with Rule&nbsp;457(h) under the 1933 Act based on the average of the high and low sales prices per share of the common stock of Potomac Electric Power Company (&quot;Pepco&quot;) on July 15, 2002, as reported by the New York Stock Exchange (&quot;NYSE&quot;), which Pepco common stock.  In connection with the merger of Pepco and Conectiv, each share of Pepco common stock will be exchanged for one share of Common Stock.</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=3><P ALIGN="CENTER">PART II<BR>
<BR>
INFORMATION REQUIRED IN REGISTRATION STATEMENT</P>
</FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=638>
<TR><TD VALIGN="TOP" COLSPAN=3>
<B><FONT SIZE=3><P>Item 3.&nbsp;&nbsp;Incorporation of Certain Documents By Reference.<BR>
</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents filed by Pepco Holdings, Inc. (the &quot;Registrant&quot;), Potomac Electric Power Company (&quot;Pepco&quot;), Conectiv, the Conectiv Savings and Investment Plan or the Atlantic Electric 401(k) Savings and Investment Plan-B with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended (the &quot;1934 Act&quot;), are incorporated in this Registration Statement by reference:<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(a)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Annual Report on Form 10-K of the Registrant for the year ended December 31, 2001;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(b)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Quarterly Report on Form 10-Q of the Registrant for the quarter ended March 31, 2002;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(c)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Current Reports on Form 8-K and 8-K/A of the Registrant, dated May 31, 2002, June 7, 2002, July 3, 2002 and July 18, 2002;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(d)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Annual Report on Form 10-K of Pepco for the year ended December 31, 2001;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(e)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Quarterly Report on Form 10-Q of Pepco for the quarter ended March 31, 2002;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(f)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Current Reports on Form 8-K of Pepco, dated January 24, 2002, January 25, 2002, January&nbsp;25, 2002, April 25, 2002 and May 31, 2002;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(g)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Annual Report on Form 10-K of Conectiv for the year ended December 31, 2001;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(h)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Quarterly Report on Form 10-Q of Conectiv for the quarter ended March 31, 2002;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(i)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Current Reports on Form 8-K of Conectiv, dated January 31, 2002, April 2, 2002, June&nbsp;7, 2002 and July 18, 2002;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(j)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Annual Report on Form 11-K of the Conectiv Savings and Investment Plan for the fiscal year ended December 30, 2001;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(k)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The Annual Report on Form 11-K of the Atlantic Electric 401(k) Savings and Investment Plan&nbsp;B for the fiscal year ended December 30, 2001; and<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="8%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="6%" VALIGN="TOP">
<FONT SIZE=3><P>(l)</FONT></TD>
<TD WIDTH="87%" VALIGN="TOP">
<FONT SIZE=3><P>The description of the Common Stock set forth in the Registrant's Registration Statement on Form 8-A filed on August 7, 2001, pursuant to Section 12 of the 1934 Act, including any amendments or reports updating such description;<BR>
</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=3>
<P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All documents filed by the Registrant, Pepco, Conectiv, and the respective Plans pursuant to <BR>
Sections 13(a), 13(c), 14 or 15(d) of the 1934 Act on or subsequent to the date of this Registration <BR>
Statement and (i) in the case of the Registrant and the respective Plans, prior to the filing of a post-<BR>
effective amendment that indicates that all securities offered hereby have been sold or that deregisters all <BR>
securities then remaining unsold, (ii) and in the case of Pepco and Conectiv, prior to the Merger, shall be <BR>
deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the <BR>
date of filing of such documents.<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any statement contained in a document incorporated or deemed to be incorporated by reference in <BR>
this Registration Statement shall be deemed to be modified or superseded for purposes of this <BR>
Registration Statement to the extent that a statement contained in this Registration Statement or in any <BR>
other subsequently filed document that also is or is deemed to be incorporated by reference in this<BR>
 Registration Statement modifies or supersedes such statement.  Any such statement so modified or <BR>
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this <BR>
Registration Statement.<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements of the Registrant included in the Registrant's Annual Report <BR>
on Form 10-K for the year ended December 31, 2001, have been audited by PricewaterhouseCoopers <BR>
LLP, independent accountants, as stated in their report, which is incorporated herein by reference, and <BR>
have been so incorporated in reliance upon the report of PricewaterhouseCoopers LLP given upon their <BR>
authority as experts in accounting and auditing.<BR>
</FONT><BR>
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements of Pepco included in Pepco's Annual Report on Form 10-K <BR>
for the year ended December 31, 2001, have been audited by PricewaterhouseCoopers LLP, independent <BR>
accountants, as stated in their report, which is incorporated herein by reference, and have been so <BR>
incorporated in reliance upon the report of PricewaterhouseCoopers LLP given upon their authority as <BR>
experts in accounting and auditing.<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The consolidated financial statements incorporated in this Registration Statement by reference to <BR>
the Annual Report on Form 10-K of Conectiv for the year ended December 31, 2001, have been so <BR>
incorporated in reliance on the report of PricewaterhouseCoopers LLP, independent accountants, given <BR>
on the authority of said firm as experts in auditing and accounting.<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The financial statements of the respective Plans incorporated in this Registration Statement by <BR>
reference to the Annual Reports on Form 11-K of the Plans for the year ended December 30, 2001, have <BR>
been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, independent accountants, <BR>
given on the authority of said firm as experts in auditing and accounting.<BR>
<BR>
<B>Item 4.  Description of Securities.<BR>
<BR>
</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.<BR>
<BR>
<B>Item 5.  Interests of Named Experts and Counsel.<BR>
<BR>
</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The validity of the shares of Common Stock offered hereby has been passed upon for the <BR>
Registrant by William T. Torgerson, who is regularly employed by Pepco as its Executive Vice President <BR>
-- External Affairs and General Counsel and who also serves as the Secretary of the Registrant.<BR>
<BR>
<B>Item 6.  Indemnification of Directors and Officers.<BR>
<BR>
</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Delaware law permits a corporation to adopt a provision in its certificate of incorporation <BR>
eliminating or limiting the personal liability of a director, but not an officer in his or her capacity as such, <BR>
to the corporation and its stockholders for monetary damages for breach of fiduciary duty as a director, <BR>
except that such provision cannot eliminate or limit the liability of a director for (1) any breach of the <BR>
director's duty of loyalty to the corporation or its stockholders, (2) acts or omissions not in good faith or <BR>
which involve intentional misconduct or a knowing violation of law, (3) liability under section 174 of the <BR>
Delaware General Corporation Law for unlawful payment of dividends or stock purchases or <BR>
redemptions, or (4) any transaction from which the director derived an improper personal benefit.  The <BR>
Registrant's certificate of incorporation provides that the personal liability of the directors of the <BR>
Registrant to the Registrant and its stockholders for monetary damages shall be eliminated or limited to <BR>
the fullest extent permissible under applicable law as may be amended from time to time.<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Delaware law, a corporation is permitted to indemnify any person who was or is a party or is <BR>
threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether <BR>
civil, criminal, administrative or investigative (other than an action by or in the right of the corporation), <BR>
by reason of the fact that the person is or was an officer, director, employee or agent of the corporation or <BR>
is or was serving at the request of the corporation as an officer, director, employee or agent of another <BR>
corporation, partnership, joint venture, trust or other enterprise against expenses (including attorney's <BR>
fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection <BR>
with such proceeding: (1) if the person acted in good faith and in a manner he reasonably believed to be <BR>
in or not opposed to the best interests of the corporation; and (2) in the case of a criminal proceeding, the <BR>
person had no reasonable cause to believe that his conduct was unlawful.<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A corporation also is permitted to indemnify any person who was or is a party or is threatened to be <BR>
made a party to any threatened, pending or completed action or suit by or in the right of the corporation to <BR>
obtain a judgment in its favor by reason of the fact that the person is or was an officer, director, employee <BR>
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer, <BR>
employee or agent of another corporation, partnership, joint venture, trust or other enterprise against <BR>
expenses (including attorney's fees) actually and reasonably incurred in connection  with the defense or <BR>
settlement of such action or suit if the person acted in good faith and in a manner he reasonably believed <BR>
to be in or not opposed to the best interests of the corporation, provided that no such indemnification is <BR>
permitted with respect to any claim, issue or matter as to which the person is found liable to the <BR>
corporation unless and only  to the extent that the Delaware Court of Chancery or the court in which the <BR>
action or suit is brought determines the person is fairly and reasonably entitled to indemnification for <BR>
such expenses as the court shall deem proper.<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under Delaware law, a corporation must indemnify any present or former director or officer of the <BR>
corporation who is successful on the merits or otherwise in the defense of any action, suit or proceeding <BR>
against expenses actually and reasonably incurred by such person. Expenses incurred by an officer or <BR>
director as deemed appropriate by the board of directors, in defending civil, criminal, administrative or <BR>
investigative proceedings may be paid by the corporation in advance of the final disposition of such <BR>
proceedings upon receipt of an undertaking by or on behalf of such director or officer to repay such <BR>
amount if it shall ultimately be determined that the person is not entitled to be indemnified by the <BR>
corporation.  Expenses incurred by former officer and directors or other employees or agents in <BR>
defending such proceedings may be paid upon terms deemed appropriate by the corporation.<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Effective as of the time of the Merger, the Registrant's certificate of incorporation will provide that <BR>
the Registrant shall indemnify and advance expenses to any director, officer or employee of the <BR>
Registrant, and may indemnify or advance expenses to any other person, who is, was or is threatened to <BR>
be made a party to an action, suit or proceeding, whether civil, criminal, administrative or investigative, <BR>
by reason of his or her service as a director, officer, employee or agent of the Registrant or his or her <BR>
service as a director, officer, employee or agent of another entity at the request of the Registrant, to the <BR>
fullest extent permitted by applicable law; provided that in the case of an advancement of expenses, if <BR>
required by the Delaware General Corporation Law, an undertaking is first delivered to the Registrant, by <BR>
or on behalf of such director, officer, employee or agent, to repay all amounts so advanced if it is <BR>
ultimately determined that the director, officer, employee or agent is not entitled to be indemnified under <BR>
the certificate of incorporation.<BR>
<BR>
<B>Item 7.&#9;Exemption From Registration Claimed.<BR>
<BR>
</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not applicable.<BR>
</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=634>
<TR><TD WIDTH="12%" VALIGN="TOP">
<B><FONT SIZE=3><P>Item 8.</B></FONT></TD>
<TD WIDTH="88%" VALIGN="TOP" COLSPAN=2>
<B><FONT SIZE=3><P>Exhibits.<BR>
</B></FONT></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<B><U><FONT SIZE=3><P>Exhibit No.<BR>
</B></U></FONT></TD>
<TD WIDTH="73%" VALIGN="TOP">
<B><U><FONT SIZE=3><P>Description of Exhibits</B></U></FONT></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1</FONT></TD>
<TD WIDTH="73%" VALIGN="TOP">
<FONT SIZE=3><P>Certificate of Incorporation of the Registrant *<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2</FONT></TD>
<TD WIDTH="73%" VALIGN="TOP">
<FONT SIZE=3><P>Bylaws of the Registrant *<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5</FONT></TD>
<TD WIDTH="73%" VALIGN="TOP">
<FONT SIZE=3><P>Opinion of William T. Torgerson, Esq. **<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;15</FONT></TD>
<TD WIDTH="73%" VALIGN="TOP">
<FONT SIZE=3><P>Letter re unaudited financial information of Pepco**<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;23.1</FONT></TD>
<TD WIDTH="73%" VALIGN="TOP">
<FONT SIZE=3><P>Consent of PricewaterhouseCoopers LLP with respect to the financial statements of the Registrant and Pepco **<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;23.2</FONT></TD>
<TD WIDTH="73%" VALIGN="TOP">
<FONT SIZE=3><P>Consent of PricewaterhouseCoopers LLP with respect to the financial statements of Conectiv and the Plans**<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="12%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="15%" VALIGN="TOP">
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;23.3</FONT></TD>
<TD WIDTH="73%" VALIGN="TOP">
<FONT SIZE=3><P>Consent of William T. Torgerson, Esq. (included in Exhibit No. 5)<BR>
</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=3>
<P>* Incorporated by reference to the Registrant's Annual Report on Form 10-K for the year ended <BR>
December&nbsp;31, 2001.<BR>
<BR>
** Filed herewith.</FONT> <BR>
<BR>
<FONT SIZE=3>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Conectiv has received from the Internal Revenue Service (the &quot;IRS&quot;) determination letters that <BR>
each of (i) the Conectiv Savings and Investment Plan, and (ii) the </FONT><FONT SIZE=3>Atlantic Electric 401(k) Savings and <BR>
Investment Plan-B,</FONT><FONT SIZE=3> are qualified under section 401 of the Internal Revenue Code.<BR>
</P></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=634>
<TR><TD VALIGN="TOP" COLSPAN=5>
<B><FONT SIZE=3><P>Item 9.&nbsp;&nbsp;Undertakings.<BR>
</B></FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">
<FONT SIZE=3><P>(a)</FONT></TD>
<TD WIDTH="88%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=3><P>The Registrant hereby undertakes:<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">
<FONT SIZE=3><P>(1)</FONT></TD>
<TD WIDTH="81%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P>(i)</FONT></TD>
<TD WIDTH="68%" VALIGN="TOP">
<FONT SIZE=3><P>To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P>(ii)</FONT></TD>
<TD WIDTH="68%" VALIGN="TOP">
<FONT SIZE=3><P>To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement; and<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="13%" VALIGN="TOP">
<FONT SIZE=3><P>(iii)</FONT></TD>
<TD WIDTH="68%" VALIGN="TOP">
<FONT SIZE=3><P>To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">
<FONT SIZE=3><P><BR>
</FONT></TD>
<TD WIDTH="95%" VALIGN="TOP" COLSPAN=4>
<FONT SIZE=3><P>PROVIDED, HOWEVER, that paragraphs (1)(i) and (1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Company pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">
<FONT SIZE=3><P>(2)</FONT></TD>
<TD WIDTH="81%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">
<FONT SIZE=3><P>(3)</FONT></TD>
<TD WIDTH="81%" VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">
<FONT SIZE=3><P>(b)</FONT></TD>
<TD WIDTH="88%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=3><P>The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="5%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="7%" VALIGN="TOP">
<FONT SIZE=3><P>(c)</FONT></TD>
<TD WIDTH="88%" VALIGN="TOP" COLSPAN=3>
<FONT SIZE=3><P>Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended (the &quot;1933 Act&quot;) may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the 1933 Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the 1933 Act and will be governed by the final adjudication of such issue.</FONT></TD>
</TR>
</TABLE>

<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=630>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><FONT SIZE=3><P ALIGN="CENTER">SIGNATURES<BR>
</B></FONT></TD>
</TR>
<TR><TD VALIGN="TOP" COLSPAN=2>
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;<B>The Registrant. </B> Pursuant to the requirements of the Securities
Act of 1933, the Registrant <BR>
certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing Form S-8 <BR>
and has duly caused this
registration statement to be signed on its behalf by the undersigned,
who is duly <BR>
authorized to sign, in the City of
Washington, District of Columbia, on the 18th day of July, 2002.<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="54%" VALIGN="TOP" HEIGHT=119>
<FONT SIZE=3><P> </FONT></TD>
<TD WIDTH="46%" VALIGN="TOP" HEIGHT=119>
<FONT SIZE=3><P>PEPCO HOLDINGS, INC.<BR>
<BR>
<BR>
By:&nbsp;&nbsp; <U>DENNIS R. WRAASE</U>__<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dennis R. Wraase&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President and Treasurer</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=3></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=634>
<TR><TD VALIGN="TOP" COLSPAN=3>
<FONT SIZE=3><P>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been <BR>
signed
below by the following person in the capacities indicated.<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="41%" VALIGN="TOP" HEIGHT=94>
<FONT SIZE=3><P>Signature<BR>
<BR>
<BR>
<U>DENNIS R. WRAASE</U><BR>
Dennis R. Wraase</FONT></TD>
<TD WIDTH="42%" VALIGN="TOP" HEIGHT=94>
<FONT SIZE=3><P>Title<BR>
<BR>
President and Treasurer and Sole Director (principal executive officer, principal financial officer and principal accounting officer) </FONT></TD>
<TD WIDTH="17%" VALIGN="TOP" HEIGHT=94>
<FONT SIZE=3><P>Date<BR>
<BR>
<BR>
July 18, 2002</FONT></TD>
</TR>
</TABLE>

<FONT SIZE=3></FONT>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=634>
<TR><TD VALIGN="TOP" COLSPAN=2>
<B><FONT SIZE=3><P>The Plan:</B> Pursuant to the requirements of the Securities Act of 1933, the Plan Administrator of the <BR>
Plans has duly caused this Registration Statement to be signed on its behalf by the undersigned, <BR>
thereunto duly authorized in the City of Wilmington, State of Delaware, on July 18, 2002.<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="41%" VALIGN="TOP" HEIGHT=94><P></P></TD>
<TD WIDTH="59%" VALIGN="TOP" HEIGHT=94>
<FONT SIZE=3><P>CONECTIV SAVINGS AND INVESTMENT PLAN<BR>
<BR>
ATLANTIC ELECTRIC 401(K) SAVINGS AND INVESTMENT PLAN-B<BR>
<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CONECTIV, AS PLAN ADMINISTRATOR<BR>
<BR>
<BR>
By:&nbsp;&nbsp; <U>HOWARD E. COSGROVE&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U><BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Howard E. Cosgrove<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chairman and Chief Executive Officer</FONT></TD>
</TR>
</TABLE>


<P>&nbsp;</P>
<TABLE CELLSPACING=0 BORDER=0 CELLPADDING=7 WIDTH=634>
<TR><TD WIDTH="14%" VALIGN="TOP">
<B><U><FONT SIZE=3><P>Exhibit No.</B></U></FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<B><U><FONT SIZE=3><P>Description of Exhibits</B></U></FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">&nbsp;</TD>
<TD WIDTH="86%" VALIGN="TOP">&nbsp;</TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P>5.</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=3><P>Opinion of William T. Torgerson, Esq.<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P>15</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=3><P>Letter re unaudited financial information of Pepco<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P>23.1</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=3><P>Consent of PricewaterhouseCoopers LLP with respect to the financial statements of the Registrant and Pepco;<BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P>23.2</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=3><P>Consent of PricewaterhouseCoopers LLP with respect to the financial statements of Conectiv and the Plans; <BR>
</FONT></TD>
</TR>
<TR><TD WIDTH="14%" VALIGN="TOP">
<FONT SIZE=3><P>23.3</FONT></TD>
<TD WIDTH="86%" VALIGN="TOP">
<FONT SIZE=3><P>Consent of William T. Torgerson, Esq. (included in Exhibit No. 5)<BR>
</FONT></TD>
</TR>
</TABLE>

</BODY>
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{"company-data": {"conformed-name": "PEPCO HOLDINGS INC", "cik": "0001135971", "assigned-sic": "4931", "irs-number": "522297449", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-96673", "film-number": "02705535"}, "business-address": {"street1": "SUITE 1300", "street2": "701 NINTH STREET, NW", "city": "WASHINGTON", "state": "DC", "zip": "20068"}, "mail-address": {"street1": "SUITE 1300", "street2": "701 NINTH STREET, NW", "city": "WASHINGTON", "state": "DC", "zip": "20068"}, "former-company": {"former-conformed-name": "NEW RC INC", "date-changed": "20010302"}}
UNITED STATES
As filed with the Securities and Exchange Commission on July 18, 2002
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.   20549
Form S-8
REGISTRATION STATEMENT
under
THE SECURITIES ACT OF 1933
PEPCO HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction
of incorporation)
52-2297449
(I.R.S. Employer
Identification No.)
701 Ninth Street, NW
Washington, D.C.  20068
(Address, including zip code, of registrant's principal executive offices)
Conectiv Savings and Investment Plan
Atlantic Electric 401(k) Savings and Investment Plan-B
(Full title of plans)
Ellen Sheriff Rogers
Vice President and Assistant Secretary
Pepco Holdings, Inc.
701 Ninth Street, N.W.
Washington, D.C.  20068
(202) 872-3526
(Name, address and telephone number,  including area code, of agent for service)
CALCULATION OF REGISTRATION FEE
Title of Securities to
Be Registered
Amount to Be
Registered
Proposed Maximum
Offering Price per
Share
Proposed Maximum
Aggregate
Offering Price
Amount of
Registration Fee
Common Stock,
$0.01 par value (1)
45,000 (2)
$18.1365 (3)
$815,850 (3)
$75.06 (3)
(1)
Includes pursuant to Rule 416(c) under the Securities Act of 1933, as amended ("1933 Act"), an indeterminate amount of plan participation interests.
(2)
Pursuant to Rule 416(a) under the 1933 Act, the number of shares of Common Stock registered hereby is subject to adjustment to prevent dilution by reason of any stock dividend, stock split, recapitalization or similar transaction that results in an increase in the number of outstanding shares of Common Stock.
(3)
Calculated in accordance with Rule 457(h) under the 1933 Act based on the average of the high and low sales prices per share of the common stock of Potomac Electric Power Company ("Pepco") on July 15, 2002, as reported by the New York Stock Exchange ("NYSE"), which Pepco common stock.  In connection with the merger of Pepco and Conectiv, each share of Pepco common stock will be exchanged for one share of Common Stock.
PART II
INFORMATION REQUIRED IN REGISTRATION STATEMENT
Item 3.  Incorporation of Certain Documents By Reference.
The following documents filed by Pepco Holdings, Inc. (the "Registrant"), Potomac Electric Power Company ("Pepco"), Conectiv, the Conectiv Savings and Investment Plan or the Atlantic Electric 401(k) Savings and Investment Plan-B with the Securities and Exchange Commission pursuant to the Securities Exchange Act of 1934, as amended (the "1934 Act"), are incorporated in this Registration Statement by reference:
(a)
The Annual Report on Form 10-K of the Registrant for the year ended December 31, 2001;
(b)
The Quarterly Report on Form 10-Q of the Registrant for the quarter ended March 31, 2002;
(c)
The Current Reports on Form 8-K and 8-K/A of the Registrant, dated May 31, 2002, June 7, 2002, July 3, 2002 and July 18, 2002;
(d)
The Annual Report on Form 10-K of Pepco for the year ended December 31, 2001;
(e)
The Quarterly Report on Form 10-Q of Pepco for the quarter ended March 31, 2002;
(f)
The Current Reports on Form 8-K of Pepco, dated January 24, 2002, January 25, 2002, January 25, 2002, April 25, 2002 and May 31, 2002;
(g)
The Annual Report on Form 10-K of Conectiv for the year ended December 31, 2001;
(h)
The Quarterly Report on Form 10-Q of Conectiv for the quarter ended March 31, 2002;
(i)
The Current Reports on Form 8-K of Conectiv, dated January 31, 2002, April 2, 2002, June 7, 2002 and July 18, 2002;
(j)
The Annual Report on Form 11-K of the Conectiv Savings and Investment Plan for the fiscal year ended December 30, 2001;
(k)
The Annual Report on Form 11-K of the Atlantic Electric 401(k) Savings and Investment Plan B for the fiscal year ended December 30, 2001; and
(l)
The description of the Common Stock set forth in the Registrant's Registration Statement on Form 8-A filed on August 7, 2001, pursuant to Section 12 of the 1934 Act, including any amendments or reports updating such description;
All documents filed by the Registrant, Pepco, Conectiv, and the respective Plans pursuant to
Sections 13(a), 13(c), 14 or 15(d) of the 1934 Act on or subsequent to the date of this Registration
Statement and (i) in the case of the Registrant and the respective Plans, prior to the filing of a post-
effective amendment that indicates that all securities offered hereby have been sold or that deregisters all
securities then remaining unsold, (ii) and in the case of Pepco and Conectiv, prior to the Merger, shall be
deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the
date of filing of such documents.
Any statement contained in a document incorporated or deemed to be incorporated by reference in
this Registration Statement shall be deemed to be modified or superseded for purposes of this
Registration Statement to the extent that a statement contained in this Registration Statement or in any
other subsequently filed document that also is or is deemed to be incorporated by reference in this
Registration Statement modifies or supersedes such statement.  Any such statement so modified or
superseded shall not be deemed, except as so modified or superseded, to constitute a part of this
Registration Statement.
The consolidated financial statements of the Registrant included in the Registrant's Annual Report
on Form 10-K for the year ended December 31, 2001, have been audited by PricewaterhouseCoopers
LLP, independent accountants, as stated in their report, which is incorporated herein by reference, and
have been so incorporated in reliance upon the report of PricewaterhouseCoopers LLP given upon their
authority as experts in accounting and auditing.
The consolidated financial statements of Pepco included in Pepco's Annual Report on Form 10-K
for the year ended December 31, 2001, have been audited by PricewaterhouseCoopers LLP, independent
accountants, as stated in their report, which is incorporated herein by reference, and have been so
incorporated in reliance upon the report of PricewaterhouseCoopers LLP given upon their authority as
experts in accounting and auditing.
The consolidated financial statements incorporated in this Registration Statement by reference to
the Annual Report on Form 10-K of Conectiv for the year ended December 31, 2001, have been so
incorporated in reliance on the report of PricewaterhouseCoopers LLP, independent accountants, given
on the authority of said firm as experts in auditing and accounting.
The financial statements of the respective Plans incorporated in this Registration Statement by
reference to the Annual Reports on Form 11-K of the Plans for the year ended December 30, 2001, have
been so incorporated in reliance on the report of PricewaterhouseCoopers LLP, independent accountants,
given on the authority of said firm as experts in auditing and accounting.
Item 4.  Description of Securities.
Not applicable.
Item 5.  Interests of Named Experts and Counsel.
The validity of the shares of Common Stock offered hereby has been passed upon for the
Registrant by William T. Torgerson, who is regularly employed by Pepco as its Executive Vice President
-- External Affairs and General Counsel and who also serves as the Secretary of the Registrant.
Item 6.  Indemnification of Directors and Officers.
Delaware law permits a corporation to adopt a provision in its certificate of incorporation
eliminating or limiting the personal liability of a director, but not an officer in his or her capacity as such,
to the corporation and its stockholders for monetary damages for breach of fiduciary duty as a director,
except that such provision cannot eliminate or limit the liability of a director for (1) any breach of the
director's duty of loyalty to the corporation or its stockholders, (2) acts or omissions not in good faith or
which involve intentional misconduct or a knowing violation of law, (3) liability under section 174 of the
Delaware General Corporation Law for unlawful payment of dividends or stock purchases or
redemptions, or (4) any transaction from which the director derived an improper personal benefit.  The
Registrant's certificate of incorporation provides that the personal liability of the directors of the
Registrant to the Registrant and its stockholders for monetary damages shall be eliminated or limited to
the fullest extent permissible under applicable law as may be amended from time to time.
Under Delaware law, a corporation is permitted to indemnify any person who was or is a party or is
threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether
civil, criminal, administrative or investigative (other than an action by or in the right of the corporation),
by reason of the fact that the person is or was an officer, director, employee or agent of the corporation or
is or was serving at the request of the corporation as an officer, director, employee or agent of another
corporation, partnership, joint venture, trust or other enterprise against expenses (including attorney's
fees), judgments, fines and amounts paid in settlement actually and reasonably incurred in connection
with such proceeding: (1) if the person acted in good faith and in a manner he reasonably believed to be
in or not opposed to the best interests of the corporation; and (2) in the case of a criminal proceeding, the
person had no reasonable cause to believe that his conduct was unlawful.
A corporation also is permitted to indemnify any person who was or is a party or is threatened to be
made a party to any threatened, pending or completed action or suit by or in the right of the corporation to
obtain a judgment in its favor by reason of the fact that the person is or was an officer, director, employee
or agent of the corporation, or is or was serving at the request of the corporation as a director, officer,
employee or agent of another corporation, partnership, joint venture, trust or other enterprise against
expenses (including attorney's fees) actually and reasonably incurred in connection  with the defense or
settlement of such action or suit if the person acted in good faith and in a manner he reasonably believed
to be in or not opposed to the best interests of the corporation, provided that no such indemnification is
permitted with respect to any claim, issue or matter as to which the person is found liable to the
corporation unless and only  to the extent that the Delaware Court of Chancery or the court in which the
action or suit is brought determines the person is fairly and reasonably entitled to indemnification for
such expenses as the court shall deem proper.
Under Delaware law, a corporation must indemnify any present or former director or officer of the
corporation who is successful on the merits or otherwise in the defense of any action, suit or proceeding
against expenses actually and reasonably incurred by such person. Expenses incurred by an officer or
director as deemed appropriate by the board of directors, in defending civil, criminal, administrative or
investigative proceedings may be paid by the corporation in advance of the final disposition of such
proceedings upon receipt of an undertaking by or on behalf of such director or officer to repay such
amount if it shall ultimately be determined that the person is not entitled to be indemnified by the
corporation.  Expenses incurred by former officer and directors or other employees or agents in
defending such proceedings may be paid upon terms deemed appropriate by the corporation.
Effective as of the time of the Merger, the Registrant's certificate of incorporation will provide that
the Registrant shall indemnify and advance expenses to any director, officer or employee of the
Registrant, and may indemnify or advance expenses to any other person, who is, was or is threatened to
be made a party to an action, suit or proceeding, whether civil, criminal, administrative or investigative,
by reason of his or her service as a director, officer, employee or agent of the Registrant or his or her
service as a director, officer, employee or agent of another entity at the request of the Registrant, to the
fullest extent permitted by applicable law; provided that in the case of an advancement of expenses, if
required by the Delaware General Corporation Law, an undertaking is first delivered to the Registrant, by
or on behalf of such director, officer, employee or agent, to repay all amounts so advanced if it is
ultimately determined that the director, officer, employee or agent is not entitled to be indemnified under
the certificate of incorporation.
Item 7.	Exemption From Registration Claimed.
Not applicable.
Item 8.
Exhibits.
Exhibit No.
Description of Exhibits
4.1
Certificate of Incorporation of the Registrant *
4.2
Bylaws of the Registrant *
5
Opinion of William T. Torgerson, Esq. **
15
Letter re unaudited financial information of Pepco**
23.1
Consent of PricewaterhouseCoopers LLP with respect to the financial statements of the Registrant and Pepco **
23.2
Consent of PricewaterhouseCoopers LLP with respect to the financial statements of Conectiv and the Plans**
23.3
Consent of William T. Torgerson, Esq. (included in Exhibit No. 5)
* Incorporated by reference to the Registrant's Annual Report on Form 10-K for the year ended
December 31, 2001.
** Filed herewith.
Conectiv has received from the Internal Revenue Service (the "IRS") determination letters that
each of (i) the Conectiv Savings and Investment Plan, and (ii) the
Atlantic Electric 401(k) Savings and
Investment Plan-B,
are qualified under section 401 of the Internal Revenue Code.
Item 9.  Undertakings.
(a)
The Registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this Registration Statement
(i)
To include any prospectus required by Section 10(a)(3) of the Securities Act of 1933;
(ii)
To reflect in the prospectus any facts or events arising after the effective date of the Registration Statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this Registration Statement; and
(iii)
To include any material information with respect to the plan of distribution not previously disclosed in this Registration Statement or any material change to such information in this Registration Statement;
PROVIDED, HOWEVER, that paragraphs (1)(i) and (1)(ii) do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in periodic reports filed by the Company pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are incorporated by reference in this Registration Statement;
(2)
That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and
(3)
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Securities Exchange Act of 1934 that is incorporated by reference in this Registration Statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act of 1933, as amended (the "1933 Act") may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the 1933 Act and is, therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the 1933 Act and will be governed by the final adjudication of such issue.
SIGNATURES
The Registrant.
Pursuant to the requirements of the Securities
Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing Form S-8
and has duly caused this
registration statement to be signed on its behalf by the undersigned,
who is duly
authorized to sign, in the City of
Washington, District of Columbia, on the 18th day of July, 2002.
PEPCO HOLDINGS, INC.
By:
DENNIS R. WRAASE
__
Dennis R. Wraase
President and Treasurer
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been
signed
below by the following person in the capacities indicated.
Signature
DENNIS R. WRAASE
Dennis R. Wraase
Title
President and Treasurer and Sole Director (principal executive officer, principal financial officer and principal accounting officer)
Date
July 18, 2002
The Plan:
Pursuant to the requirements of the Securities Act of 1933, the Plan Administrator of the
Plans has duly caused this Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized in the City of Wilmington, State of Delaware, on July 18, 2002.
CONECTIV SAVINGS AND INVESTMENT PLAN
ATLANTIC ELECTRIC 401(K) SAVINGS AND INVESTMENT PLAN-B
CONECTIV, AS PLAN ADMINISTRATOR
By:
HOWARD E. COSGROVE
Howard E. Cosgrove
Chairman and Chief Executive Officer
Exhibit No.
Description of Exhibits
5.
Opinion of William T. Torgerson, Esq.
15
Letter re unaudited financial information of Pepco
23.1
Consent of PricewaterhouseCoopers LLP with respect to the financial statements of the Registrant and Pepco;
23.2
Consent of PricewaterhouseCoopers LLP with respect to the financial statements of Conectiv and the Plans;
23.3
Consent of William T. Torgerson, Esq. (included in Exhibit No. 5)