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No. of Recommendations: 0
Hang on to your shares. Stock prices follow earnings. The company has been beating earnings estimates and forecasts for the last several quarters. Their corporate strategy that was implemented when the utility deregulation was being formed has been and should continue to be rewarding for shareholders.

In addition, management is planning to unlock greater potential value for shareowners by establishing an IPO, issuing a tracking stock or contributing assets to a joint venture. According to the CEO (William Hecht) they will announce a strategic initiative possibly by the end of April. Southern Company recently spun-off Mirant and both companies shareholders have benefited from this strategy.

I took a substantial position back in March of 2000 at a price of 18.60. I'm going to let this growth story and the energy shortage play itself out before I consider selling these shares.

Information from the company's web site follows:

Performance:
The numbers speak for themselves:
· In late January, we reported the most successful year in our history. Our record 2000 earnings were 40 percent higher than a year ago. The company's adjusted earnings of $3.28 per share are 23 cents higher than analysts' consensus estimate.
· Our total return to shareowners during 2000, paced by the outstanding performance of our common stock in the market, was about 105 percent, a level higher than all but two of the 71 energy companies that are part of the Edison Electric Institute index.
· PPL's stock price, which increased from $22.875 per share at the beginning of 2000 to $45.188 per share at the end of the year, more than doubled the growth rate of the Dow Jones Utility Average for 2000.
· The company is increasing both its 2001 and 2002 earnings forecasts by about 35 cents per share from earlier forecasts. The 2001 forecast now is $3.60 to $3.65 per share, and the 2002 forecast, $3.90 to $4.00 per share.
· Achievement of the company's 2002 earnings projection would mean that PPL would have more than doubled its earnings per share since 1998, when its adjusted earnings were $1.87 per share.
· Our record-setting earnings performance in recent quarters can be directly attributed to the company's success, over the last several years, in capitalizing on opportunities offered by the competitive energy marketplace.
· Our corporate strategy of concentrating on the generation and sale of competitively priced energy in key U.S. markets while operating high-quality energy delivery businesses in selected regions around the world has led to record-breaking, sustainable growth.
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