News Releases

PPL Corporation (NYSE: PPL) today declared a quarterly dividend on its common stock of 36 cents per share, payable July 1, 2002, to shareowners of record June 10, 2002.

(Photo: http://www.newscom.com/cgi-bin/prnh/19981015/PHTH025 )

In addition, PPL Electric Utilities Corp., a subsidiary of PPL Corporation, today declared the following quarterly dividends on its preferred stock, payable July 1, 2002, to shareowners of record June 10, 2002.

  Preferred                     Preferred (cont.)
  4.50%          $1.125         6.125% Series     $1.53125
  3.35% Series   $0.8375        6.15% Series      $1.5375
  4.40% Series   $1.10          6.33% Series      $1.5825
  4.60% Series   $1.15          6.75% Series      $1.6875

PPL Corporation, headquartered in Allentown, Pa., controls or owns more than 10,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets, and delivers electricity to nearly 6 million customers in Pennsylvania, the United Kingdom and Latin America.

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SOURCE: PPL Corporation

Contact: news media: Dan McCarthy, +1-610-774-5758 or financial
community: Tim Paukovits, +1-610-774-4124, both of PPL Corporation, Fax:
+1-610-774-5281

Website: http://www.pplweb.com/