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PPL Corporation Confirms 2001 Earnings Outlook

ALLENTOWN, Pa. (Sept. 27, 2001) -- PPL Corporation (NYSE: PPL) today confirmed its 2001 earnings outlook of at least $4.00 per share.
"Given the significant concerns being expressed by investors in the energy sector, we feel it is important to confirm our forecast to earn at least $4.00 per share for 2001," said John R. Biggar, PPL executive vice president and chief financial officer. "This expected level of earnings reflects more than 20 percent growth over the company's adjusted earnings per share of $3.28 last year," Biggar said.

"Despite the well-documented decline in wholesale electricity prices, PPL's strong generation portfolio, combined with the excellent performance of our marketing and trading operation and the hedging strategy that it employs, will allow us to meet the 2001 earnings projection that we made in April," said Biggar.
He said the company's electricity delivery operations in the United States and overseas also are contributing to the continued strong earnings for the year.

Biggar also said that the company expects to exceed the Wall Street third quarter consensus for PPL of 88 cents per share.
PPL expects to release third quarter 2001 results before the financial markets open on Oct. 24.
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