ALLENTOWN, Pa.---PP&L, Inc. today (8/6) announced that it has determined the purchase prices on its previously announced debt tender offers for any and all of about $1.66 billion of 11 series of its first mortgage bonds.

PP&L, Inc. is the major subsidiary of PP&L Resources, Inc. (NYSE: PPL).

Below is a list of 10 of the series of mortgage bonds tendered, which were priced based on the yield on specified United States Treasury reference securities plus specified fixed spreads. Shown for each series are the yield on the specified U.S. Treasury security as of noon Eastern Standard Time today, fixed spread, the purchase price, the accrued interest and the total purchase price plus accrued interest, assuming a settlement date of Aug. 11, 1999.

Separately, PP&L, Inc. is offering to purchase any or all of its 9 1/4 percent series due 2019 (CUSIP No. 709051 BH 8) at a fixed price of $1,026.30 per $1,000 principal amount plus accrued interest of $33.40.

The tender offers for each series of bonds will expire at 5 p.m. Eastern Standard Time on Tuesday, Aug. 10, 1999, unless further extended or terminated by PP&L, Inc. If all conditions to the tender offers are met and PP&L, Inc. accepts bonds tendered for payment, settlement will occur promptly after the expiration date.

Full details of the terms and conditions of the offers, including the pricing formula, are included in the company's Offer to Purchase for the mortgage bonds dated July 27, 1999. The tender offers are dependent upon certain conditions -- including receipt by PP&L, Inc. of proceeds associated with the sale of transition bonds, previously announced -- and PP&L, Inc. is under no obligation to accept tendered mortgage bonds for payment.

CUSIP Number	Series of First Mortgage Bond	Reference U.S. Treasury Yield (%)	Tender Spread (%)	Purchase Price ($)	Accrued Interest ($)	Total Purchase Price Plus Accrued Interest ($)
709051 BJ 4	9 3/8% due 2021	5.702	.30	1,099.16	10.42	1,109.58
709051 BM 7	8 1/2% due 2022	5.86	.45	1,088.80	23.61	1,112.41
709051 BQ 8	7 7/8% due 2023	5.943	.60	1,069.30	2.19	1,071.49
709051 BL 9	7 3/4% due 2002	5.86	.30	1,039.15	21.53	1,060.68
709051 CC 8	7.70% due 2009	5.988	.65	1,077.34	27.81	1,105.15
709051 CD 6	7 3/8% due 2014	5.988	.75	1,058.45	32.78	1,091.23
709051 CA 2	7.30% due 2024	5.959	.75	1,048.06	32.44	1,080.50
709051 BN 5	6 7/8% due 2003	5.943	.35	1,017.87	1.91	1,019.78
709051 CB 0	6 7/8% due 2004	5.959	.40	1,020.08	30.56	1,050.64
709051 BY 1	6 3/4% due 2023	5.998	.70	1,023.52	24.38	1,047.90

Morgan Stanley Dean Witter (800-624-1808) and Banc One Capital Markets, Inc. (877-810-9199) are acting as joint dealer managers for the tender offers. Holders who have any questions should contact either of the joint dealer managers at the listed telephone numbers or Innisfree, Inc., the information agent, at 888-750-5834.

This press release is not an offer to purchase the securities. The tender offers are made only pursuant to the offering documents.