ࡱ>  l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~#؈ ~~"؈ ~~ ؈ ~~8#܈ ~~7#܈ ~~83ffff̙̙3f3fff3f3f33333f33&u CALCULATION OF REGISTRATION FEEbIS A CRIMINAL OFFENSE%SELECTED FINANCIAL INFORMATION+CAPITALIZATION6 UNDERWRITING>GLOSSARYV GLOSSARY (1)$j GLOSSARY (2)v GLOSSARY (3)~ITEM 16 EXHIBITSu II1 PAGEJ KENNERLY DAVIS JR$AND PREFERRED STOCK DIVIDENDS&PCONSOLIDATED REPORT OF CONDITIOF 4 PAGE LIABILITIES EQUITY CAPITAL"CONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1)v EQUITY CAPITAL (1)"CONSOLIDATED REPORT OF (2)  4 PAGE LIABIL (2), EQUITY CAPITAL (2) l  #  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??IS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } }  } <} 2}  #     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995'CALCULATION OF REGISTRATION FEE    PROPOSED   PROPOSED MAXIMUM  AMOUNT MAXIMUM  AGGREGATE  AMOUNT OF TITLE OF SECURITIES BEING 2 *OFFERING PRICE OFFERING PRICE REGISTRATION BEING REGISTERED  REGISTERED  PER UNIT (1) (1) FEEVirginia Power Capital Trust I Preferred Securities~ I 100%~ / ~ b~ Virginia Electric and Power Company Subordinated Notes, Series A(2)~ Virginia Electric and  Power Company Preferred Securities Guarantee(2)Dl|pdXLz|Z @""!!  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } U}  } }        $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995IS A CRIMINAL OFFENSE.  Price To  Underwriting  Proceeds to   Public(1) Discount(2)(3)  Trust(2)(3)   Per Preferred Security. % % %~  Total$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0mU=% l`THW=PF0*8X> @ l  "*]+  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSECAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } *}  }  } U5} }  "     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995&SELECTED FINANCIAL INFORMATION   12 MONTHS  ENDED   YEARS   4 ,MARCH 31, ----------------------------------  1995 1994 1993 1992 1991 1990 %Operating revenues (millions)~ @~ .A~ nA~ 9~ 9~ 6#Operating income (millions)~ 2 ~ n ~  ~  ~  ~  *"Income before cumulative effect of)! a change in accounting principle (millions)~ ~ ~ ~ "~ ~  ( Cumulative effect of a change in( accounting principle (millions) 14Net income (millions)~ ~ ~ ~ Z~ ~  %Ratio of earnings to combined*" fixed charges and preferred stock dividendsRQ@333333@{Gz@= ףp=@Q@Gz@$____________________________D l}qeYM,}<^l> !1 )Created by Morningstar Document Research.0!(http://documentresearch.morningstar.com/=PF0*8X> @!!  l   6  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } >} } <      $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995CAPITALIZATION  AS OF  MARCH 31, 1995  ACTUAL  PRO FORMA(*)  Long-Term Debt~ ?~ ?;3Preferred Securities issued by affiliate subject to mandatory redemption~ Preferred Stock-% Not Subject to Mandatory Redemption~ J ~ )! Subject to Mandatory Redemption~ v~ ! Total Preferred Stock~  ~  Common Stock Equity~ ?~ ?  Total Capitalization~ ~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dlui]@K_;[7+=PF0*8X> @ l   >  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } }       $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995 UNDERWRITING   NUMBER OF   PREFERRED NAME  SECURITIES  Lehman Brothers Inc. Total~ I$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4)wk_>x`TH =PF0*8X> @ l  AJ*UU  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } } y< A     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995GLOSSARY  1933 ACT/ 'The Securities Act of 1933, as amended. 1934 ACT8 0The Securities Exchange Act of 1934, as amended. 1939 ACT4 ,The Trust Indenture Act of 1939, as amended. 1940 ACT7 /The Investment Company Act of 1940, as amended.ADDITIONAL INTEREST7/Amounts payable by the Company to cover certain:2governmental charges, as described in "Description'of the Junior Subordinated Note Interest."ADMINISTRATIVE TRUSTEES6.Initially, J. Kennerly Davis, Jr. and James P.Carney. CODE6.The Internal Revenue Code of 1986, as amended.COMMON SECURITIES7/The Trust Securities being sold to the Company.COMPANY,$Virginia Electric and Power Company.DELAWARE TRUSTEEChemical Bank Delaware.DOMINION RESOURCES3+Dominion Resources, Inc., the parent of theCompany. DTC1)The Depository Trust Company, a "clearing:2corporation" that initially will hold (through its3+agents) a global certificate evidencing thePreferred Securities.DISTRIBUTION DATES:2March 31, June 30, September 30 and December 31 of1)each year, commencing September 30, 1995.D l{ocWt%J(b 3B !"#$%&'()*+,-./0123456789:;<=>? EVENT OF DEFAULT5 -As described under "Description of the Junior!!Subordinated Notes""Events of Default."#EXTENSION PERIOD7#/Any period during which interest is not paid on$9$1the Junior Subordinated Notes (and, consequently,%7%/on the Preferred Securities) at the election of&5&-the Company to the extent permitted under the'/''terms of the Junior Subordinated Notes.( GUARANTEE7(/The guarantee by the Company of the payments by)8)0the Trust on the Preferred Securities from funds**available in the Trust.+GUARANTEE PAYMENTS4+,Payments required to be made pursuant to the,1,)Guarantee as described in "Description of-- Guarantee.GUARANTEE TRUSTEE3.+The trustee under the Guarantee; initially,//Chemical Bank.0INDENTURE TRUSTEE:02The trustee under the Subordinated Note Indenture;1!1initially, Chemical Bank.2 ISSUE DATE921The date set forth on the cover page on which the3:32Junior Subordinated Notes and Preferred Securities4#4are scheduled to be issued.5INVESTMENT COMPANY ACT56 EVENT961An event of the type described in "Description of7 7the Preferred Securities88or Distribution."!9JUNIOR SUBORDINATED NOTES59-The fixed rate junior subordinated deferrable:7:/interest notes of the Company due September 30,;~ ;<=$>____________________________1?)Created by Morningstar Document Research.D lVo*S$lfhb@0@(http://documentresearch.morningstar.com/H=PF0*8X> @@@??>> l  8_bi  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } I"} y< 8     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995GLOSSARY  NYSE New York Stock Exchange. PAYMENT ACCOUNT9 1The account maintained by the Property Trustee to 5 -which amounts paid on the Junior Subordinated  Notes are credited.PREFERRED SECURITIES7/The Trust Securities being offered to investors$pursuant to this Prospectus.PROPERTY TRUSTEE80A trustee under the Trust designated to hold the0(trust property; initially Chemical Bank. RECORD DATE6.The close of business on the 15th calendar day%prior to a Distribution Date.REDEMPTION PRICE91The stated liquidation amount of 25 per Preferred7/Security, plus accrued and unpaid distributions5-thereon (and interest thereon) to the date ofpayment.SECURITIES RATE2*The per annum interest rate expressed as a91percentage of the stated liquidation amount of 25:2per Preferred Security, and set forth on the cover page.SECURITIES TRUSTEES91The Property Trustee, Administrative Trustees andDelaware Trustee.SENIOR INDEBTEDNESS:2Indebtedness of the Company described herein under5-"Description of the Junior Subordinated NotesDl{ocW#[t4UXL# !"#$%&'()*+,-./01234567  Subordination."! SPECIAL EVENT4!,A Tax Event or Investment Company Act Event.$"SUBORDINATED NOTE INDENTURE.5"-The indenture pursuant to which the Company's#7#/Junior Subordinated Notes will be issued to the$$Trust.% TAX EVENT9%1An event of the type described in "Description of& &the Preferred Securities''or Distribution." (TRUST2(*Virginia Power Capital Trust I, a Delaware)0)(business trust that will issue the Trust** Securities.+TRUST AGREEMENT4+,The agreement pursuant to which the Trust is,8,0organized as it may be amended and restated from-- time to time. .TRUST AGREEMENT EVENT OF./ DEFAULT4/,As described under "Description of Preferred00 Securities1TRUST SECURITIES/1'The Preferred Securities and the Common22 Securities.34$5____________________________16)Created by Morningstar Document Research.07(http://documentresearch.morningstar.com/4'p@m}1]=PF0*8X> @776655 l  #tu  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U }  @""!!  l  h~  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } 0.}       $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995GLOSSARY . &Securities and Exchange Commission Fee~ b$ Fees and Expense of Trustees~ q Printing Expenses~   Counsel Fees~ "Rating Agency Fees~  Listing Fees~ Accountant's Fees~ " Miscellaneous~ 2> Total~ G$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8{ocWd>Y=PF0*8X> @ l  $׋  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } } yU $     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995ITEM 16. EXHIBITS.  *1@ 8Form of Underwriting Agreement for Preferred Securities. *4(a)O GForm of Subordinated Note Indenture between Virginia Electric and Power . &Company and Chemical Bank, as Trustee. *4(b)J BForm of Supplemental Indenture between Virginia Electric and Power.&Company and Chemical Bank, as Trustee. *4(c):2Trust Agreement of Virginia Power Capital Trust I. *4(d)5-Form of Amended and Restated Trust Agreement.  4(e)D<Form of Preferred Security (included in Exhibit 4(d) above).  4(f)KCForm of Junior Subordinated Notes (included in Exhibit 4(b) above). *4(g)?7Form of Guarantee with respect to Preferred Securities.  4(h)>6Certificate of Trust (included in Exhibit 4(d) above). *5(a)1)Opinion and Consent of Hunton & Williams. *5(b)91Opinion and Consent of Potter Anderson & Corroon. *8)!Tax opinion of Hunton & Williams. *12G?Ratio of Earnings to Combined Fixed Charges and Preferred Stock Dividends.*23(a))!Consent of Deloitte & Touche LLP. 23(b)IAConsent of Hunton & Williams is contained in Exhibits 5(a) and 8. 23(c)JBConsent of Potter Anderson & Corroon is contained in Exhibit 5(b).~ bMEPowers of Attorney with respect to the Company officers and directors(included herein).D l}qeYMYm#j}/x9z !"# $!____________________________1")Created by Morningstar Document Research.0#(http://documentresearch.morningstar.com/ <=PF0*8X> @##""!! l  n  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITSJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } } $M      $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995<> II-1   *25(a)H @Statement of eligibility and qualification of Chemical Bank with 3 +respect to the Subordinated Note Indenture. *25(b)H @Statement of eligibility and qualification of Chemical Bank with ! respect to the Guarantee.*25(c)H@Statement of eligibility and qualification of Chemical Bank withrespect to the Trust.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.ui]QR!~V=PF0*8X> @ l  3  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } I } F}  3     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995J. KENNERLY DAVIS, JR.    SEQUENTIAL EXHIBIT  PAGE NUMBER  DESCRIPTION NUMBER   *1@8Form of Underwriting Agreement for Preferred Securities. *4(a)<4Form of Subordinated Note Indenture between VirginiaA9Electric and Power Company and Chemical Bank, as Trustee. *4(b)@8Form of Supplemental Indenture between Virginia Electric80and Power Company and Chemical Bank, as Trustee. *4(c):2Trust Agreement of Virginia Power Capital Trust I. *4(d)5-Form of Amended and Restated Trust Agreement.  4(e)<4Form of Preferred Security (included in Exhibit 4(d)above).  4(f)>6Form of Junior Subordinated Notes (included in Exhibit 4(b) above). *4(g)?7Form of Guarantee with respect to Preferred Securities.  4(h)>6Certificate of Trust (included in Exhibit 4(d) above). *5(a)1)Opinion and Consent of Hunton & Williams. *5(b)91Opinion and Consent of Potter Anderson & Corroon. *8)!Tax opinion of Hunton & Williams. *12A9Ratio of Earnings to Combined Fixed Charges and PreferredDlymaU'GPo4M !"#$%&'()*+,-./012  Stock Dividends.!*23(a))!!Consent of Deloitte & Touche LLP." 23(b)="5Consent of Hunton & Williams is contained in Exhibits## 5(a) and 8.$ 23(c)<$4Consent of Potter Anderson & Corroon is contained in%% Exhibit 5(b).~ &b?&7Powers of Attorney with respect to the Company officers'(' and directors (included herein).(*25(a)>(6Statement of eligibility and qualification of Chemical)=)5Bank with respect to the Subordinated Note Indenture.**25(b)>*6Statement of eligibility and qualification of Chemical+++#Bank with respect to the Guarantee.,*25(c)>,6Statement of eligibility and qualification of Chemical-'-Bank with respect to the Trust../$0____________________________11)Created by Morningstar Document Research.02(http://documentresearch.morningstar.com/*hF#[#.h\P(=PF0*8X> @221100 l  <T  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JR!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } I"}  }  <     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995%AND PREFERRED STOCK DIVIDENDS   12 Months  Ended   March 31,  1995 1994 1993 1992 1991 1990  Net Income~ *~ J~ ~ F~ N~ |Add: Income Taxes~ n) ~  ~ ~ ~ ~ =~ ^ Total Pretax Net Income~ S'~ ^)~ .~ )~ +~ &(Fixed Charges: Interest on Long-Term Debt~ V~ b~ Q~ \~ |~ ޾ Other Interest~ }~ u~ *~ z~ v~ # Estimated Interest Factor" of Rents Charged to Op-# erating Expenses, Clear-! ing and Other Accounts~ ~w~ ro~ rX~ ^a~ >~ Total Fixed Charges~ n~ ε~ ~ ~ >~ zD lfN6;/#~ 6B~ z@!!!!!!!"Ratio of Pretax Income# of Net Income#?#?#)\(?#333333?#Gz?#Q?$%Preferred Div. Req.~ %~ %~ %~ %:~ %&$~ %:&Portion Allowable as' Deduction for Federal( Income Taxes~ (V~ (V~ (V~ (~ ("~ (J)))))))* Difference~ *~ *6~ *2~ *v~ *~ *+Times Pretax Ratio~ +~ +~ +B~ +F~ +~ +v1,Preferred Divd. Factor~ ,J~ ,2~ ,~ , ~ ,~ ,8-Fixed Charges as Above~ -n~ -ε~ -~ -~ ->~ -z....... /Total Fixed Charges and 0 Preferred Divd. Factor~ 0~ 0~ 0~ 0”~ 0l~ 06/11111112Ratio of Earnings to #3 Combined Fixed Charges and34 Preferred Stock5 Dividends5RQ@5333333@5{Gz@5= ףp=@5Q@5Gz@666666678$9____________________________1:)Created by Morningstar Document Research.0;(http://documentresearch.morningstar.com/< 9c3GX~=PF0*8X> @;;::99 l  4  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } >}  4     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995+#CONSOLIDATED REPORT OF CONDITION OF  DOLLAR AMOUNTS ASSETS  IN MILLIONS   ;3Cash and balances due from depository institutions:*" Noninterest-bearing balances and currency and coin~ Z# Interest-bearing balances~ n' Securities:#Held to maturity securities~ `%Available for sale securities~ 91Federal Funds sold and securities purchased under91 agreements to resell in domestic offices of the:2 bank and of its Edge and Agreement subsidiaries, and in IBF's: Federal funds sold~ &91 Securities purchased under agreements to resell~ .&Loans and lease financing receivables:2* Loans and leases, net of unearned income3+ Less: Allowance for loan and lease losses/' Less: Allocated transfer risk reserveD'lxl`TH"h;F 7 !"#$%&'()*+,-./01233 + Loans and leases, net of unearned income, ! allowance, and reserve~ !"Trading Assets~ "F8#0Premises and fixed assets (including capitalized$ leases)~ $%Other real estate owned~ %6&.Investments in unconsolidated subsidiaries and' associated companies~ 'R8(0Customer's liability to this bank on acceptances) outstanding~ )n*Intangible assets~ *+ Other assets~ +i,,- TOTAL ASSETS~ - ../0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/,|o3u9k_S+=PF0*8X> @332211 l  +  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } F}  +     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995#<> - 4 - LIABILITIES Deposits    In domestic offices~ J  Noninterest-bearing Interest-bearing>6 In foreign offices, Edge and Agreement subsidiaries, and IBF's~ f Noninterest-bearing Interest-bearing@8Federal funds purchased and securities sold under agree-?7ments to repurchase in domestic offices of the bank and>6 of its Edge and Agreement subsidiaries, and in IBF's! Federal funds purchased~ n80 Securities sold under agreements to repurchase~ .00(Demand notes issued to the U.S. Treasury~ BTrading liabilities~ Other Borrowed money:4, With original maturity of one year or less~ u6. With original maturity of more than one year~ J?7Mortgage indebtedness and obligations under capitalized leases~ RDElth\P<0$tO.};|O. !"#$%&'()*@ 8Bank's liability on acceptances executed and outstanding~ z)!!Subordinated notes and debentures~ !J5"Other liabilities~ "]#$TOTAL LIABILITIES~ $%%&'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/sH<=PF0*8X> @**))(( l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIESCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } =} U      $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995<> EQUITY CAPITAL     Common stock~   Surplus~ VF.&Undivided profits and capital reserves~ '-%Net unrealized holding gains (Losses)( on available-for-sale securities~ ;3Cumulative foreign currency translation adjustments~ &TOTAL EQUITY CAPITAL~ p1)TOTAL LIABILITIES, LIMITED-LIFE PREFERRED! STOCK AND EQUITY CAPITAL~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0~rfZNB6~Dp=% =PF0*8X> @ l  4 !  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITAL 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } >}  4     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995+#CONSOLIDATED REPORT OF CONDITION OF  DOLLAR AMOUNTS ASSETS  IN MILLIONS   ;3Cash and balances due from depository institutions:*" Noninterest-bearing balances and currency and coin~ Z# Interest-bearing balances~ n' Securities:#Held to maturity securities~ `%Available for sale securities~ 91Federal Funds sold and securities purchased under91 agreements to resell in domestic offices of the:2 bank and of its Edge and Agreement subsidiaries, and in IBF's: Federal funds sold~ &91 Securities purchased under agreements to resell~ .&Loans and lease financing receivables:2* Loans and leases, net of unearned income3+ Less: Allowance for loan and lease losses/' Less: Allocated transfer risk reserveD'lxl`TH"h;F 7 !"#$%&'()*+,-./01233 + Loans and leases, net of unearned income, ! allowance, and reserve~ !"Trading Assets~ "F8#0Premises and fixed assets (including capitalized$ leases)~ $%Other real estate owned~ %6&.Investments in unconsolidated subsidiaries and' associated companies~ 'R8(0Customer's liability to this bank on acceptances) outstanding~ )n*Intangible assets~ *+ Other assets~ +i,,- TOTAL ASSETS~ - ../0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/,|o3u9k_S+=PF0*8X> @332211 l  ++  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } F}  +     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995#<> - 4 - LIABILITIES Deposits    In domestic offices~ J  Noninterest-bearing Interest-bearing>6 In foreign offices, Edge and Agreement subsidiaries, and IBF's~ f Noninterest-bearing Interest-bearing@8Federal funds purchased and securities sold under agree-?7ments to repurchase in domestic offices of the bank and>6 of its Edge and Agreement subsidiaries, and in IBF's! Federal funds purchased~ n80 Securities sold under agreements to repurchase~ .00(Demand notes issued to the U.S. Treasury~ BTrading liabilities~ Other Borrowed money:4, With original maturity of one year or less~ u6. With original maturity of more than one year~ J?7Mortgage indebtedness and obligations under capitalized leases~ RDElth\P<0$tO.};|O. !"#$%&'()*@ 8Bank's liability on acceptances executed and outstanding~ z)!!Subordinated notes and debentures~ !J5"Other liabilities~ "]#$TOTAL LIABILITIES~ $%%&'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/sH<=PF0*8X> @**))(( l  v  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } =} U      $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995<> EQUITY CAPITAL     Common stock~   Surplus~ VF.&Undivided profits and capital reserves~ '-%Net unrealized holding gains (Losses)( on available-for-sale securities~ ;3Cumulative foreign currency translation adjustments~ &TOTAL EQUITY CAPITAL~ p1)TOTAL LIABILITIES, LIMITED-LIFE PREFERRED! STOCK AND EQUITY CAPITAL~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0~rfZNB6~Dp=% =PF0*8X> @ l  4l  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1) 4 PAGE LIABIL (2) EQUITY CAPITAL (2)U } >}  4     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995+#CONSOLIDATED REPORT OF CONDITION OF  DOLLAR AMOUNTS ASSETS  IN MILLIONS   ;3Cash and balances due from depository institutions:*" Noninterest-bearing balances and currency and coin~ Z# Interest-bearing balances~ n' Securities:#Held to maturity securities~ `%Available for sale securities~ 91Federal Funds sold and securities purchased under91 agreements to resell in domestic offices of the:2 bank and of its Edge and Agreement subsidiaries, and in IBF's: Federal funds sold~ &91 Securities purchased under agreements to resell~ .&Loans and lease financing receivables:2* Loans and leases, net of unearned income3+ Less: Allowance for loan and lease losses/' Less: Allocated transfer risk reserveD'lxl`TH"h;F 7 !"#$%&'()*+,-./01233 + Loans and leases, net of unearned income, ! allowance, and reserve~ !"Trading Assets~ "F8#0Premises and fixed assets (including capitalized$ leases)~ $%Other real estate owned~ %6&.Investments in unconsolidated subsidiaries and' associated companies~ 'R8(0Customer's liability to this bank on acceptances) outstanding~ )n*Intangible assets~ *+ Other assets~ +i,,- TOTAL ASSETS~ - ../0$1____________________________12)Created by Morningstar Document Research.03(http://documentresearch.morningstar.com/,|o3u9k_S+=PF0*8X> @332211 l  +)`,  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) EQUITY CAPITAL (2)U } F}  +     $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995#<> - 4 - LIABILITIES Deposits    In domestic offices~ J  Noninterest-bearing Interest-bearing>6 In foreign offices, Edge and Agreement subsidiaries, and IBF's~ f Noninterest-bearing Interest-bearing@8Federal funds purchased and securities sold under agree-?7ments to repurchase in domestic offices of the bank and>6 of its Edge and Agreement subsidiaries, and in IBF's! Federal funds purchased~ n80 Securities sold under agreements to repurchase~ .00(Demand notes issued to the U.S. Treasury~ BTrading liabilities~ Other Borrowed money:4, With original maturity of one year or less~ u6. With original maturity of more than one year~ J?7Mortgage indebtedness and obligations under capitalized leases~ RDElth\P<0$tO.};|O. !"#$%&'()*@ 8Bank's liability on acceptances executed and outstanding~ z)!!Subordinated notes and debentures~ !J5"Other liabilities~ "]#$TOTAL LIABILITIES~ $%%&'$(____________________________1))Created by Morningstar Document Research.0*(http://documentresearch.morningstar.com/sH<=PF0*8X> @**))(( l  5  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??!CALCULATION OF REGISTRATION FEEIS A CRIMINAL OFFENSE SELECTED FINANCIAL INFORMATIONCAPITALIZATION UNDERWRITING GLOSSARY GLOSSARY (1) GLOSSARY (2) GLOSSARY (3)ITEM 16 EXHIBITS  II1 PAGEJ KENNERLY DAVIS JRAND PREFERRED STOCK DIVIDENDS!CONSOLIDATED REPORT OF CONDITIO 4 PAGE LIABILITIES EQUITY CAPITALCONSOLIDATED REPORT OF (1) 4 PAGE LIABIL (1) EQUITY CAPITAL (1)CONSOLIDATED REPORT OF (2) 4 PAGE LIABIL (2)U } =} U      $VIRGINIA ELECTRIC & POWER CO S-3 07/24/1995<> EQUITY CAPITAL     Common stock~   Surplus~ VF.&Undivided profits and capital reserves~ '-%Net unrealized holding gains (Losses)( on available-for-sale securities~ ;3Cumulative foreign currency translation adjustments~ &TOTAL EQUITY CAPITAL~ p1)TOTAL LIABILITIES, LIMITED-LIFE PREFERRED! STOCK AND EQUITY CAPITAL~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0~rfZNB6~Dp=% =PF0*8X> @ Root Entry FBook  r6  !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~