PPL Corporation (NYSE: PPL) Friday (5/25) declared a quarterly dividend on common stock of 26.5 cents per share, payable July 1, 2001, to shareowners of record June 8, 2001.

In addition, PPL Electric Utilities Corp., a subsidiary of PPL Corporation, declared the following quarterly dividends on its preferred stock, payable July 1, 2001, to shareowners of record June 8, 2001.

Preferred

4 1/2%................$1.125

3.35% Series.....$0.8375

4.40% Series.....$1.10

4.60% Series.....$1.15

6.125% Series...$1.53125

6.15% Series.....$1.5375

6.33% Series.....$1.5825

6.75% Series.....$1.6875

In the first quarter of 2001, PPL Corporation achieved record earnings for the sixth consecutive quarter. First-quarter earnings were $1.52 per diluted share, a 54 percent increase over the same period of 2000. PPL’s dramatic growth in 2000 and 2001 can be traced directly to the success of its strategies in the non-regulated generation and energy marketing sectors. About 80 percent of the company’s earnings now are derived from its non-regulated generation, marketing and international operations.