RICHMOND, Va., May 2 /PRNewswire-FirstCall/ -- Virginia Electric and Power Company, a wholly owned subsidiary of Dominion (NYSE: D), announced today that Virginia Power Capital Trust II (VEL PrA), a subsidiary of Virginia Electric and Power Company, will redeem all outstanding shares of its 7.375 percent Trust Preferred Securities on May 19, 2008. The paying agent is The Bank of New York. The redemption price is 100 percent of the liquidation amount of each trust preferred security ($25.00 per security) plus accrued but unpaid distributions to but not including the redemption date. The record date will be May 16, 2008.

SOURCE: Dominion

CONTACT: Media, Mark Lazenby +1-804-819-2042, Mark.Lazenby@dom.com, or
Ryan Frazier +1-804-819-2521, C.Ryan.Frazier@dom.com; or Analysts, Greg Snyder
+1-804-819-2383, James.Gregory.Snyder@dom.com, or Laura Kottkamp
+1-804-819-2254, Laura.E.Kottkamp@dom.com all of Dominion

Web site: http://www.dom.com/