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KU ENERGY CORPORATION ANNOUNCES RESULTS

 LEXINGTON, Ky., Jan. 12 /PRNewswire/ -- KU Energy Corporation (NYSE: KU) today reported earnings for the three and twelve months ended Dec. 31, 1993, of $.40 and $2.11, respectively, as compared to $.37 and $1.96 for the corresponding periods of 1992.
 John T. Newton, KU Energy Chairman and President, said that the Company's results for 1993 were primarily attributed to weather related growth in sales and lower interest charges. "We are pleased to have achieved these results while continuing to provide reliable service to our customers at rates that are more than 45 percent below the national average," Newton said.
 KU Energy's 1993 sales were 6 percent above sales in 1992. A return to more normal weather following very mild temperatures in 1992 and unusually hot summer weather in 1993 were the primary reasons for the increase. Reflecting the favorable weather, residential sales for the year rose 10 percent. The continued strength of the service area economy also contributed to the increase in sales. Industrial sales were up 10 percent for 1993. Operating revenues for 1993 totaled $606.6 million, an increase of 5 percent from 1992. Operating expenses for the year were $502.1 million as compared to $470.9 million for 1992.
 Interest and other charges declined 19 percent to $35.3 million in 1993 as a result of debt refinancing in 1992 and 1993 at favorable rates as well as the redemption of debt in 1993.
 Sales for the fourth quarter of 1993 rose 10 percent. The main contributors to the increase were greater sales to neighboring utilities and to industrial customers. Residential and commercial sales also increased during the fourth quarter of 1993 due to cooler temperatures than in the fourth quarter of 1992. Operating revenues for the fourth quarter of 1993 totaled $151.8 million, a 9 percent increase from 1992. Operating expenses of $130.9 million for the quarter were 10 percent above the fourth quarter of 1992.
 Results for 1993 reflect increased operating expenses of about $1.0 million (net of tax and capitalization) or 2.5 cents per share for the three months ended Dec. 31, 1993, and about $3.8 million (net of tax and capitalization) or 10 cents per share for the twelve months ended Dec. 31, 1993, associated with the adoption of Statement of Financial Accounting Standards No. 106 (SFAS 106) effective Jan. 1, 1993.
 KU Energy Corporation is a holding company whose principal subsidiary is Kentucky Utilities Company.
 KU ENERGY CORPORATION AND SUBSIDIARIES
 STATEMENTS OF INCOME
 FOR THE PERIODS ENDED DEC. 31, 1993 AND 1992
 (UNAUDITED)
 Three Months Ended Twelve Months Ended
 Dec. 31, Dec. 31,
 1993 1992 1993 1992
 (in thousands except for per share amounts)
 Operating Revenues $151,823 $139,831 $606,608 $576,260
 Operating Expenses:
 Fuel, principally
 coal, used in
 generation 46,525 40,694 178,910 168,470
 Electric power purchased 8,583 8,330 34,711 32,753
 Other operating
 expenses 27,633 24,011 106,124 95,109
 Maintenance 20,235 20,652 59,458 61,270
 Depreciation 15,195 14,733 60,811 58,931
 Federal and state
 income taxes 8,995 7,271 47,752 40,992
 Other taxes 3,706 3,323 14,357 13,401
 130,872 119,014 502,123 470,926
 Net Operating Income 20,951 20,817 104,485 105,334
 Other income and
 Deductions:
 Interest and dividend
 income 915 1,826 4,737 7,866
 Other income and
 deductions - net 1,653 1,347 6,033 4,415
 2,568 3,173 10,770 12,281
 Income Before Interest
 and Other Charges 23,519 23,990 115,255 117,615
 Interest and Other
 Charges 8,268 10,037 35,272 43,433
 Net Income $15,251 $13,953 $79,983 $74,182
 Average Common Shares
 Outstanding 37,818 37,818 37,818 37,818
 Earnings Per Average
 Common Share $0.40 $0.37 $2.11 $1.96
 The information contained herein is not given in connection with the sale or offer for sale or offer to buy any security.
 -0- 1/12/94
 /CONTACT: William N. English or Karen F. Klein of KU Energy Corporation, 606-288-1155/
 (KUE)


CO: KU Energy Corporation; Kentucky Utilities ST: Kentucky IN: UTI SU: ERN

CM-DF -- CH009 -- 1474 01/12/94 15:04 EST
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Date:Jan 12, 1994
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