PPL Corp. and PPL Electric Utilities Corp. Declare Quarterly Dividends

PPL Corporation (NYSE: PPL) Friday (11/17) declared a quarterly dividend on common stock of 26.5 cents per share, payable January 1, 2001, to shareowners of record December 8, 2000.

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

In addition, PPL Electric Utilities Corp., a subsidiary of PPL Corp., declared the following quarterly dividends on its preferred stock, payable January 1, 2001, to shareowners of record December 8, 2000.

   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
   5.95% Series   $1.4875

PPL has reported record earnings in each of the first three quarters of this year. William F. Hecht, PPL's chairman, president and chief executive officer, said the company's record-setting earnings performance in recent quarters can be directly attributed to its success, over the last several years, in capitalizing on opportunities offered by the competitive energy marketplace.

Based in Allentown, Pa., PPL Corp. is a FORTUNE 500® company that delivers electricity and natural gas to more than 1.4 million customers in Pennsylvania; markets wholesale or retail energy in 42 U.S. states and Canada; provides energy services for businesses in the Mid-Atlantic and Northeastern U.S.; generates electricity at power plants in Pennsylvania, Maine and Montana; delivers electricity to 2.4 million customers in the United Kingdom; and delivers electricity to more than 2 million customers in Chile, Bolivia, El Salvador and Brazil.

NewsCom: http://www.newscom.com/cgi-bin/prnh/19981015/PHTH025

PRN Photo Desk, 888-776-6555 or 201-369-3467

SOURCE: PPL Corporation

Contact: John R. Biggar, 610-774-5613, or Timothy J. Paukovits,
610-774-4124, both of PPL, or fax, 610-774-5281

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