FPL Announces Sale of $400 Million of First Mortgage Bonds.

JUNO BEACH, Fla. -- Florida Power & Light Company today announced the sale of $400 million principal amount of 31-year first mortgage bonds bearing interest at 5.65 percent per year and maturing on February 1, 2037.

The first mortgage bonds will be offered to the public at 99.288 percent of par to yield 5.699 percent when held to maturity.

Net proceeds from the sale will be added to Florida Power & Light Company's general funds and are expected to be used to repay a portion of Florida Power & Light Company's short-term borrowings and for other corporate purposes.

The sale was underwritten by a group that includes Banc of America Securities LLC and Lehman Brothers, Inc. as lead managers. The co-managers are Calyon Securities (USA) Inc., Greenwich Capital Markets, Inc., Lazard Capital Markets LLC, LaSalle Financial Services, Inc., Scotia Capital (USA) Inc., BBVA Securities Inc., Fortis Securities LLC, HSBC Securities (USA) Inc., HVB Capital Markets, Inc., and SunTrust Capital Markets, Inc. A prospectus relating to these first mortgage bonds may be obtained from Banc of America Securities LLC and Lehman Brothers, Inc.

Florida Power & Light Company is the principal subsidiary of FPL Group, Inc. (NYSE:FPL), nationally known as a high quality, efficient and customer-driven organization focused on energy-related products and services. With annual revenues of more than $10 billion and a growing presence in 26 states, FPL Group is widely recognized as one of the country's premier power companies. Florida Power & Light Company serves 4.3 million customer accounts in Florida. FPL Energy, LLC, FPL Group's wholesale electricity generating subsidiary, is a leader in producing electricity from clean and renewable fuels. Additional information is available on the Internet at http://www.FPL.com, http://www.FPLGroup.com and http://www.FPLEnergy.com.