Pennsylvania Power & Light Co. announced that PP&L Capital Trust II has offered $150 million of Trust Originated Preferred Securities (Preferred Securities) to the public through an underwriting group headed by Merrill Lynch & Co., A. G. Edwards & Sons, Inc., Legg Mason Wood Walker, Incorporated, Morgan Stanley Dean Witter, Paine Webber Incorporated and Prudential Securities Incorporated. PP&L previously sold $100 million of Preferred Securities in April 1997 through PP&L Capital Trust.

The additional Preferred Securities will be offered to the public at a price of $25.00 per security to provide a yield of 8.10%.

With certain exceptions related to changes in federal tax law or the federal Investment Company Act of 1940, the Preferred Securities will not be redeemable prior to July 1, 2002. Thereafter, they may be redeemed in whole or in part at the option of the company at $25.00 per security plus accrued and unpaid distributions to the date of redemption.

The net proceeds from the sale of the Preferred Securities will be used for general corporate purposes, including the reduction of short-term debt incurred to fund the tender offer by PP&L Resources for the company's preferred stock. The closing of the sale is subject to the approval of the Pennsylvania Public Utility Commission; the commission is expected to act on the matter at its June 12, 1997 meeting.