The board of directors of PPL Electric Utilities Corporation, a subsidiary of PPL Corporation, has set a special meeting of shareowners for Tuesday, July 17, 2001, at 10:30 a.m. in the North Auditorium of its headquarters building at Two North Ninth Street in Allentown, Pa.

The purpose of the meeting is to approve certain steps of a strategic initiative to confirm the structural separation of PPL Electric Utilities Corporation from PPL Corporation and other affiliate companies, as previously announced in April. Shareowners will be asked to approve a division under Pennsylvania law to separate from PPL Electric Utilities certain potential liabilities and a related amount of cash, together with associated amendments to the articles of incorporation and bylaws of PPL Electric Utilities.