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CP&L PLANS TO REDEEM SERIAL PREFERRED STOCKS

 CP&L PLANS TO REDEEM SERIAL PREFERRED STOCKS
 RALEIGH, N.C., Aug. 27 /PRNewswire/ -- Carolina Power & Light


(NYSE: CPL) plans to redeem all remaining outstanding shares of two series of Preferred Stocks on Oct. 1, 1992. The redemptions will be of 650,000 shares of the Serial Preferred Stock, $8.48 Series, and 300,000 shares of the Serial Preferred Stock, $9.10 Series.
 CP&L will pay to each holder of shares of these two series of Serial Preferred Stocks the stated redemption price of $101.00 per share.
 Dividends on the Serial Preferred Stocks shall cease to accrue on the Redemption Date. The usual quarterly dividends on the Serial Preferred Stocks will be paid in the regular manner on Oct. 1, 1992, to shareholders of record as of Sept. 16, 1992.
 -0- 8/27/92
 /CONTACT: R.E. "Dick" Stanard, Carolina Power & Light, 919-546-6189 (24-Hour Media Contact Line)/
 (CPL) CO: Carolina Power & Light ST: North Carolina IN: OIL SU:


JZ -- CH006 -- 3971 08/27/92 13:26 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
Words:170
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