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Listed below is a reply from the CEO Bill Hecht that was taken from the February/March issue of "PPL Dimensions".

Financial Analysts:
What is PPL management planning to do to unlock greater potential value for your share-owners from your various stand-alone businesses-through tactics such as developing an IPO, issuing a tracking stock or contributing assets to a joint venture?

We do continue to unlock the value that we think is hidden in some of our assets. There are parts of our business that could command higher prices than the current price of PPL Corp. common stock. We are not ready to make an announcement at this time about any strategic initiatives in this regard, but we are continuing to work on them. As soon as we've made this decision we'll inform the investment community. At this time, our best judgment is that we will announce a clear plan about where we are headed in this regard at about the time we announce our first quarter 2001 earnings (in late April).

The shareholder meeting is scheduled for April 27. This seems to me like an appropriate time for such an announcement.

Best regards,

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