PPL Corporation (NYSE: PPL) today declared a quarterly dividend on its common stock of $0.385 per share, payable July 1, 2003, to shareowners of record June 10, 2003. Earlier this year, PPL Corporation increased its common stock dividend level by 6.9 percent, from $0.36 per share to $0.385 per share on a quarterly basis. Payment of this increased level began on April 1, 2003. In addition, PPL Electric Utilities Corporation, a subsidiary of PPL Corporation, today declared the following quarterly dividends on its preferred stock, payable July 1, 2003, to shareowners of record June 10, 2003. 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 6.33% Series....$1.5825 6.75% Series....$1.6875