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FPL ANNOUNCES SALE OF PREFERRED STOCK

 MIAMI, Aug. 31 /PRNewswire/ -- Florida Power & Light Company (FPL) today accepted an offer of $99.125 per share as the net price to the company for the sale of 650,000 shares of FPL's Preferred Stock, $100 Par Value, Series U. The preferred stock will have a dividend rate of 6.75 percent and pay an annual dividend of $6.75 per share. The effective cost to FPL will be 6.81 percent.
 The preferred stock will be offered to the public at a price of $100 per share by Salomon Brothers Inc. The effective yield to the public will be 6.75 percent.
 The net proceeds from the sale will be added to FPL's general funds and are expected to be used to redeem all 350,000 shares of FPL's 8.50 Percent Preferred Stock, Series P and all 257,000 shares of FPL's 8.70 Percent Preferred Stock, Series M. The redemption is expected to occur on or about Oct. 8, 1993.
 A copy of the prospectus relating to these securities can be obtained from Salomon Brothers Inc.
 FPL is one of the largest investor-owned electric utilities in the nation and the principal subsidiary of FPL Group, Inc. (NYSE: FPL).
 -0- 8/31/93
 /CONTACT: Bill Swank of Florida Power & Light Company, 305-552-3894 or 305-552-3895/
 (FPL)


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

AW -- FL004 -- 7671 08/31/93 17:22 EDT
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Publication:PR Newswire
Date:Aug 31, 1993
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