JUNO BEACH, Fla., Nov. 29 /PRNewswire/ -- FPL Group, Inc. (NYSE: FPL)
today said it continues to be optimistic about the vitality of its
electricity-related businesses and indicated its exposure is minimal from the
very serious difficulties being experienced by Enron.
(Photo: http://www.newscom.com/cgi-bin/prnh/20010621/FPLLOGO )
"Currently, FPL Group has net income exposure to Enron of less than
$2 million," said Moray Dewhurst, chief financial officer.
"The company has taken aggressive actions over the past three to four
weeks to minimize its outstanding credit exposure to Enron," said Mr.
Dewhurst. "Over the last few weeks we have reduced our trading with Enron and
have correspondingly reduced our exposure. As of yesterday, we have suspended
all trading with Enron."
Caution regarding forward-looking statements: Any statements made herein
about future operating results or other future events are forward-looking
statements under the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. Actual results may differ substantially from
such forward-looking statements. A discussion of factors that could cause
actual results or events to vary is contained in FPL Group's 2000 SEC
Form 10-K.
FPL Group, with annual revenues of more than $7 billion, is one of the
nation's largest providers of electricity-related services. Its principal
subsidiary, Florida Power & Light Company, serves approximately 3.9 million
customer accounts in Florida. FPL Energy, LLC, an FPL Group energy-generating
subsidiary, is a leader in producing electricity from clean and renewable
fuels. Additional information is available on the Internet at
http://www.fplgroup.com, http://www.fpl.com and http://www.fplenergy.com .
SOURCE FPL Group, Inc.
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http://www.fpl.com
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CONTACT:
Florida Power & Light Company, Corporate
Communications Media Line, +1-305-552-3163
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