PP&L Resources, Inc. Wednesday (1/22) reported earnings of $2.05 per share of common stock for the 12-month period ended Dec. 31, 1996, unchanged from the $2.05 per share in earnings reported by the company in the previous 12-month period.

Reported earnings in 1995 were influenced by the cost of ongoing work-force reductions, and by several one-time adjustments related primarily to regulatory decisions by the Pennsylvania Public Utility Commission and the sale of coal reserves.

When the effects of those one-time adjustments are removed, earnings for 1995 were $1.79 per share, compared with $2.05 per share for 1996.

"This increase in earnings reflects the 3.8 percent base rate increase granted by the state Public Utility Commission in September 1995 and the growth in electricity sales by Pennsylvania Power & Light Co., our electric utility subsidiary," said Ronald E. Hill, senior vice president-Financial. Overall, sales to service-area customers were up by 3.4 percent during 1996. Part of the increase was attributable to colder weather in the first quarter of 1996. "When the effects of weather are removed, 1996 sales still reflect strong growth -- an increase of 2.9 percent," Hill said.

"We're very encouraged by the continued increase in electricity sales, especially in the commercial and industrial sectors," said Hill. He noted that weather-adjusted commercial sales increased 3.6 percent in 1996, and industrial sales rose 1.7 percent, compared to 1995. "Commercial and industrial sales are good indicators of our region's economic health," he said. A reduction in PP&L's contractual bulk power sales to a New Jersey utility reduced earnings by about 8 cents per share during 1996.

Under the terms of the contract, the amount of bulk power sold will continue to decline over the next several years. PP&L has increased its efforts to sell this energy and capacity on the open market.

In the fourth quarter of 1996, PP&L Resources reported earnings of 45 cents per share, compared with earnings of 56 cents per share in the fourth quarter of 1995. After excluding the effects of work-force reductions and a one-time adjustment related to the sale of PP&L coal reserves, fourth quarter 1995 earnings were 45 cents a share, the same as the 45 cents per share earnings in the fourth quarter of 1996.

PP&L RESOURCES, INC. AND SUBSIDIARY COMPANIES CONSOLIDATED FINANCIAL INFORMATION (UNAUDITED) December 1996 Thousands of Dollars

3 Months Ended Dec. 31

12 Months Ended Dec. 31

	1996	1995		1996	1995
Operating revenues	$737,392	$732,851		$2,910,243	$2,751,798
Net income	73,053	89,434		329,432	322,653
Earnings per share of common stock (based on average number of shares outstanding)	$0.45	$0.56		$2.05	$2.05
Average number of shares outstanding (thousands)	162,218	158,992		161,060	157,649

SYSTEM SALES COMPARISONS -- ACTUAL Millions of kwh

3 Months Ended Dec. 31

12 Months Ended Dec. 31

	1996	1995	% Change		1996	1995	% Change
Residential	2,815	2,724	3.3		11,848	11,300	4.8
Commercial	2,523	2,427	4.0		10,288	9,948	3.4
Industrial	2,601	2,467	5.4		10,016	9,845	1.7
Other	438	397	10.3		1,638	1,578	3.8
Total	8,377	8,015	4.5		33,790	32,671	3.4

SYSTEM SALES COMPARISONS -- WEATHER-ADJUSTED Millions of kwh

3 Months Ended Dec. 31

12 Months Ended Dec. 31

	1996	1995	% Change		1996	1995	% Change
Residential	2,749	2,592	6.1		11,620	11,260	3.2
Commercial	2,506	2,394	4.7		10,250	9,890	3.6
Industrial	2,601	2,467	5.4		10,016	9,845	1.7
Other	435	384	13.3		1,627	1,565	4.0
Total	8,291	7,837	5.8		33,513	32,560	2.9