News Releases

PPL Corporation (NYSE: PPL) today declared a quarterly dividend on its common stock of 36 cents per share, payable Jan. 1, 2003, to shareowners of record Dec. 10, 2002.

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

In addition, PPL Electric Utilities Corporation, a subsidiary of PPL Corporation, today declared the following quarterly dividends on its preferred stock, payable Jan. 1, 2003, to shareowners of record Dec. 10, 2002.

  Preferred                          Preferred (cont.)
  4-1/2%               $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 nearly 11,500 megawatts of generating capacity in the United States, sells energy in key U.S. markets, and delivers electricity to customers in Pennsylvania, the United Kingdom and Latin America.

Visit our dedicated media web site at www.pplnewsroom.com for additional news and background about PPL Corporation.

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SOURCE: PPL Corporation

CONTACT: George Biechler, for news media, +1-610-774-5997, or Tim
Paukovits, for financial community, +1-610-774-4124, fax: +1-610-774-5281,
both of PPL Corporation

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