PPL Corporation (NYSE: PPL) today declared a quarterly dividend on its common stock of 36 cents per share, payable Jan. 1, 2003, to shareowners of record Dec. 10, 2002.

In addition, PPL Electric Utilities Corporation, a subsidiary of PPL Corporation, today declared the following quarterly dividends on its preferred stock, payable Jan. 1, 2003, to shareowners of record Dec. 10, 2002.

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