PPL Corporation (NYSE: PPL) has completed the previously announced sale of its controlling interest in its Bolivian electricity delivery business and a related construction company to a group organized by the management team and local labor unions.

Empressa de Luz y Fuerza Electrica Cochabamba S.A. (Elfec) and Empresa de Ingenieria y Servicios Integrales Cochabamba S.A. (Integra) represented by far the smallest portion of PPL’s investment in its international operations. The two businesses have about 280,000 customers in Bolivia.

As previously announced, PPL recorded a special after-tax charge of $22 million, or 6 cents per share, in the first quarter of 2007 as a result of its decision to sell the Bolivian operation.   

Earlier this year, PPL announced its intention to sell all of its regulated electricity delivery businesses in Chile, El Salvador and Bolivia. In May, PPL completed the sale of its controlling interest in its El Salvadoran electricty delivery business to Ashmore Energy International (AEI) for $180 million through a stock purchase agreement.

Also, as previously announced, PPL expects the sale of its combined Latin American portfolio to result in a special after-tax earnings gain in 2007, inclusive of special after-tax charges recorded in the first quarter related to the sale of the businesses.

Through its financial advisor, J.P. Morgan Securities, Inc., PPL is proceeding with the auction process for the Chilean business, by far the largest of the three Latin American businesses. The company expects the Chilean asset sale to be completed later in 2007.

PPL continues to provide electricity delivery services to 2.6 million customers in the United Kingdom.

PPL Corporation, headquartered in Allentown, Pa., controls more than 11,000 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to more than 4 million customers in Pennsylvania, the United Kingdom and Latin America.

Certain statements contained in this news release, including statements with respect to future earnings impacts and business disposition, are "forward-looking statements" within the meaning of the federal securities laws. Although PPL Corporation believes that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements involve a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements. The following are among the important factors that could cause actual results to differ materially from the forward-looking statements: political, regulatory or economic developments and conditions in foreign countries; capital markets; disposition proceeds; and foreign exchange rates. Any such forward-looking statements should be considered in light of such factors and in conjunction with PPL Corporation's Form 10-K and other reports on file with the Securities and Exchange Commission.