May 23, 2001
The board of directors of PPL Electric Utilities Corporation, a subsidiary of PPL Corporation (NYSE: PPL), has set a special meeting of shareowners for Tuesday, July 17, 2001, at 10:30 a.m. in the North Auditorium of its headquarters building at Two North Ninth Street in Allentown, Pa.
The purpose of the meeting is to approve certain steps of a strategic initiative to confirm the structural separation of PPL Electric Utilities Corporation from PPL Corporation and other affiliate companies, as previously announced in April. Shareowners will be asked to approve a division under Pennsylvania law to separate from PPL Electric Utilities certain potential liabilities and a related amount of cash, together with associated amendments to the articles of incorporation and bylaws of PPL Electric Utilities.
Headquartered in Allentown, Pa., PPL Corporation generates electricity at power plants in Pennsylvania, Maine and Montana; markets wholesale or retail energy in 42 U.S. states and Canada; and delivers electricity to nearly 6 million customers in Pennsylvania, the United Kingdom and Latin America.NewsCom: http://www.newscom.com/cgi-bin/prnh/19981015/PHTH025
SOURCE: PPL Corporation
Contact: Dan McCarthy of PPL, 610-774-5758, or fax, 610-774-5281