ALLENTOWN, Pa.---PP&L Resources, Inc. (NYSE:PPL) today (5/5) revised its first quarter 1999 earnings to 76 cents per share from the previously reported 70 cents per share. The revised figure of 76 cents per share represents an increase of about 26 percent from the 60 cents per share reported for the comparable period a year ago.

The change in previously reported earnings for the first quarter of 1999 resulted from a correction in recording a purchased power expense during the quarter. When adjusted to exclude the effects of weather, the revised earnings for the first quarter were 79 cents per share.

The revised reported amount for the 12 months ended March 31, 1999, was a loss of $ 3.38, a $0.06 per share change from the loss of $3.44 reported previously. The revised 12-months-ended earnings, as adjusted to exclude the effects of weather, charges related to the transition to a competitive electricity market in Pennsylvania and one-time adjustments were $2.14 per share, an increase of $0.06 from previously reported earnings of $2.08 per share.