Here are some reasons to learn more about PPL:

Commitment:

PPL Corporation strives to balance our commitment to our customers, our communities and our environment. But we also understand that each business decision must ultimately build a foundation for shareowner value.

Yes, the marketplace has changed dramatically. The 1990s saw an end to the traditional electric utility. In this exciting new era of competition, PPL has positioned itself to take advantage of new opportunities in both the regulated and deregulated industry. Our corporate strategies emphasize growth in shareowner value through expansion into new markets and the offering of new energy-related products and service.

The one thing that hasn't changed is PPL's commitment to increasing the value of your investment in our company.

Performance:

• Driven by stronger results in its international delivery business segment and special items, PPL Corporation reported higher first-quarter 2008 earnings compared with a year ago, the company announced May 2. 

• PPL’s reported earnings in the most recent quarter were $0.69 per share, 33 percent higher than a year ago. The increase was primarily due to a net credit of $0.08 per share in special items recorded in the first quarter of 2008 compared with a net charge of $0.13 per share in special items recorded during the same period a year ago.
   
• PPL’s first-quarter 2008 earnings from ongoing operations, which exclude special items, were 6 percent lower than a year ago, at $0.61 per share, primarily due to the expiration of the federal synfuel tax credit program at the end of 2007. This decline reflects a loss of $0.08 per share in synfuel benefits, $0.03 per share in lower energy margins from the company’s U.S. power plants, and $0.03 per share from the loss in earnings from PPL’s Latin American businesses as a result of their sales in 2007. Higher earnings of $0.10 per share from PPL’s U.K. electricity delivery businesses, including a $0.04 per share increase in delivery margins, partially offset these declines.
   
• Reported earnings in the first quarter of 2008 included special items of $0.08 per share in net credits. For the first-quarter of 2008, PPL recorded a special credit of $0.13 per share related to the mark-to-market impacts of energy-related, non-trading economic hedges. The mark-to-market gains or losses on the energy hedges will reverse as the hedging contracts settle in the future. PPL also recorded special charges of $0.04 per share as a result of a valuation adjustment to prior-year synfuel tax credits and $0.01 per share for a groundwater litigation settlement offer related to the Colstrip generating plant in Montana. Synfuel operations ceased production at the end of 2007. In the first quarter of 2007, PPL recorded net special charges of $0.13 per share, which included an $0.11 per share special charge related to the sales of its Latin American electricity delivery businesses.
   
• First-quarter 2008 earnings from PPL’s regulated Pennsylvania delivery operations were essentially flat compared with a year ago. However, first-quarter earnings at PPL’s regulated electricity distribution businesses in the U.K. were higher compared with a year ago. In the current business environment, all of PPL’s business segments are performing as expected, and they are successfully executing their respective business plans.

“Earnings from ongoing operations” excludes the impact of special items. Special items include charges, credits or gains that are unusual or non-recurring and the mark-to-market impact of energy-related, non-trading economic hedges. The mark-to-market impact of these hedges is economically neutral to the company because the mark-to-market gains or losses on the energy hedges will reverse as the hedging contracts settle in the future. Earnings from ongoing operations should not be considered as an alternative to reported earnings, or net income, which is an indicator of operating performance determined in accordance with generally accepted accounting principles (GAAP). PPL believes that earnings from ongoing operations, although a non-GAAP measure, is also useful and meaningful to investors because it provides them with PPL’s underlying earnings performance as another criterion in making their investment decisions. PPL’s management also uses earnings from ongoing operations in measuring certain corporate performance goals. Other companies may use different measures to present financial performance.

For more information, contact PPL Investor Services at 1-800-345-3085.