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412 FPL EMPLOYEES ACCEPT VOLUNTARY RETIREMENT PLAN

 JUNO BEACH, Fla., Sept. 20 /PRNewswire/ -- Florida Power and Light Company announced today that 412 employees in the non-bargaining unit work force have accepted a voluntary retirement plan offered as part of the utility's cost reduction effort.
 The total represents 81 percent of the 506 who were eligible for the plan companywide. Additional retirements are expected later this month when 368 eligible bargaining unit employees decide whether to accept a similar plan.
 "We are pleased that many employees are taking advantage of the plan, which offers a unique opportunity to retire with enhanced benefits," said Larry Kelleher, FPL senior vice president, human resources. "This level of participation compares favorably with similar plans offered recently by other corporations around the nation. FPL expresses its gratitude to our new retirees for their many years of service and wishes them well."
 The voluntary retirement plans were extended to employees 54 years of age or older with a minimum of 10 years of service. The plans offer the option of adding five years to an employee's age plus five years to length of service to calculate retirement benefits. A second alternative offers a regular pension based on actual age and service plus a supplemental pension based on three weeks' pay for every year of service with a maximum of 14 months. Retirements will be effective Oct. 1.
 The company also has begun offering special severance benefits to non-bargaining unit employees who are affected by the cost reducti efforts. FPL expects to complete the severance offers to eligible employees by mid-October and conclude the process before year-end.
 The special severance plan consists of three weeks' pay for each year of service with a minimum of four months' pay and a maximum of 12 months' pay. FPL additionally will provide outplacement services to employees accepting the special severance package.
 The voluntary retirement plans and special severance plan are part of a major cost reduction effort announced by FPL in July to enable the company to maintain stable rates for customers and to compete effectively in the rapidly changing utility industry.
 FPL, one of the nation's largest investor-owned utilities, is the principal subsidiary of FPL Group, Inc. (NYSE: FPL).
 -0- 9/20/93
 /CONTACT: Dale Thomas of Florida Power & Light Company corporate communications dept., 305-552-3894 or 305-552-3895/
 (FPL)


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

AW -- FL004 -- 3614 09/20/93 11:11 EDT
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Publication:PR Newswire
Date:Sep 20, 1993
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