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FPL ANNOUNCES SALE AND REDEMPTION OF FIRST MORTGAGE BONDS

 MIAMI, Feb. 10 /PRNewswire/ -- Florida Power & Light Company (FPL) today accepted an offer from Kidder Peabody and Morgan Stanley for the sale of $150 million of 30-year first mortgage bonds bearing interest at 7 3/4 percent per year, due Feb. 1, 2023, and accepted an offer from Merrill Lynch, Nomura, and Yamaichi International for the sale of $100 million of 10-year first mortgage bonds bearing interest at 6 5/8 percent per year, due Feb. 1, 2003.
 The 30-year bonds will be offered to the public at 98.63 percent of par to yield 7.87 percent when held to maturity and the 10-year bonds will be offered to the public at 97.83 percent of par to yield 6.80 percent when held to maturity. FPL's interest cost, after underwriting commissions, is 7.92 percent for the 30-year bonds and 6.97 percent for the 10-year bonds. A prospectus relating to the bonds may be obtained from the underwriters.
 Proceeds from these sales are expected to be used to redeem $75 million principal amount of first mortgage bonds, 9 1/8 percent Series due Jan. 1, 2008, and to fund the construction of additional electric facilities. The redemption is expected to occur on or about March 12, 1993.
 FPL is one of the largest investor-owned electric utilities in the nation and the principal subsidiary of FPL Group, Inc. (NYSE: FPL).
 -0- 2/10/93
 /CONTACT: Bill Swank of Florida Power & Light, 305-552-3894 or 305-552-3895/
 (FPL)


CO: Florida Power & Light ST: Florida IN: UTI SU:

AW -- FL005 -- 5141 02/10/93 12:13 EST
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Publication:PR Newswire
Date:Feb 10, 1993
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