August 30, 2002
RICHMOND, Va. - Virginia Electric and Power Company, a wholly owned subsidiary of Dominion (NYSE: D), announced today that it will redeem all outstanding shares of its variable rate preferred stock.
Redemption will occur on the following schedule:
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September 1992 A Series Auction Market Preferred Stock
September 1992 B Series Auction Market Preferred Stock
October 1988 Series Money Market Cumulative Preferred Stock
June 1989 Series Money Market Cumulative Preferred Stock |
Sept. 5, 2002
Sept. 12, 2002
Sept. 26, 2002
Oct. 3, 2002
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The paying agent is Deutsche Bank. Each series will be redeemed at par value plus accrued and unpaid dividends through and including the redemption date. The record date will be the business day immediately preceding the redemption date.
In addition, Virginia Power Capital Trust I, a subsidiary trust of Virginia Electric and Power Company, announced the redemption of all outstanding shares of its 8.05 percent Trust Preferred Securities on September 30, 2002. The paying agent is JPMorgan Chase Bank. The redemption price is par value of $25 per preferred security plus accrued and unpaid distributions through and including the redemption date. The record date will be September 15, 2002.
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| CONTACTS: |
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| Media: |
Hunter Applewhite, (804) 819-2043 |
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Joseph G. O'Hare, (804) 819-2156 |
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