Jun 20, 2002
Twenty-six principal officers of PPL Corporation (NYSE: PPL) and its subsidiaries today expressed their confidence in the company's future by committing to purchase PPL's common stock on July 1, 2002, in an aggregate amount of $676,000, which is equivalent to 21,562 shares based on Wednesday's closing price of $31.35.
These figures include commitments from all 10 executive officers of PPL in an aggregate amount of $500,000.
The officers are making their purchases through the optional cash-payment feature of PPL's dividend reinvestment plan, which is open to every registered shareowner of PPL. This plan permits shareowners to invest up to $80,000 per account each calendar year. For the July 1, 2002, reinvestment date, shareowners are required to notify PPL of their investments by June 25, 2002.
"I am gratified and encouraged by the strong showing of confidence among our officers in our company's strategic direction and growth prospects," said William F. Hecht, PPL chairman, president and chief executive officer.
"We continue to build investment value for our shareowners as well as career opportunities for our employees through a multi-dimensional corporate strategy," Hecht said. "Our strategy encompasses generating and selling energy in key U.S. markets, maintaining an optimum balance of energy supply and customer load under multi-year contracts and operating high-quality energy-delivery businesses in select regions."
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: Joe Bergstein, for financial community, +1-610-774-5609, or
George Biechler, for news media, +1-610-774-5997, both of PPL, or Fax:
Web site: http://www.pplweb.com/