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CP&L REPORTS 1992 EARNINGS EARNINGS, SALES, REVENUES INCREASE

 RALEIGH, N.C., Jan.. 27 /PRNewswire/ -- Carolina Power & Light (CP&L) (NYSE: CPL) today reported earnings of $2.36 per share of common stock for the year ending Dec. 31, 1992. That compares to earnings of $2.27 per share for 1991. These earnings reflect the effect of the two-for-one stock split announced in December 1992 to be effective on Feb. 1. Before the effect of the stock split, earnings per share were $4.72 for 1992 as compared to $4.53 for 1991.
 The company's energy sales grew 4.5 percent in 1992. Operating revenues for the year totaled $2.8 billion, an increase of 3 percent compared to 1991. Increased revenues reflect higher energy usage, primarily by industrial and wholesale customers.
 Earnings per share for the fourth quarter 1992 were 46 cents, compared to 35 cents for the same period in 1991. This also reflects the effect of the two-for-one stock split. Earnings per share before the effect of the stock split were 92 cents for the quarter compared to 71 cents for the same quarter in 1991.
 CP&L's operating revenues for the fourth quarter 1992 totaled $663 million, up 6.1 percent over the same period in 1991. Net income for fourth quarter 1992 was $70.8 million compared to $59.1 million for the same period last year. This increase in net income was primarily due to higher energy sales as a result of colder weather.
 During 1992, CP&L's industrial customers used 5.9 percent more energy, commercial customers 1.9 percent more energy and residential customers 1.5 percent more energy than the previous year.
 CAROLINA POWER & LIGHT CO. (CPL)
 EARNINGS RELEASE FOR PERIOD ENDING 12/31/92
 (000's except for EPS)
 Three Months Ended Twelve Months Ended
 Dec. 31, Dec. 31,
 1992 1991 1992 1991
 Revenue $663,024 $624,933 $2,766,821 $2,685,755
 Net Income $ 70,849 $ 59,140 $ 379,635 $ 376,974
 Earnings Per
 Share of Common
 Stock $ 0.46 $ 0.35 $ 2.36 $ 2.27
 Average Common
 Stock Outstanding
 (000's) 160,737 160,737 160,737 160,737
 Footnotes: Earnings per share reflect the two-for-one stock split announced by CP&L in December 1992 to be effective on Feb. 1, 1993. Earnings per share before the effect of the stock split were $4.72 for 1992 as compared to $4.53 for 1991. Earnings for 1992 reflect higher revenues and lower financing costs. Operating revenues for the fourth quarter 1992 increased by 6.1 percent compared to the same period in 1991. Net income for the fourth quarter 1992 was $70.8 million compared to $59.1 million for the same period last year. This increase in net income was primarily due to higher energy sales as a result of colder weather. The average number of common shares shown above also reflects the stock split.
 -0- 1/27/93
 /CONTACT: Wade Pridgen, Corp. Comm. Dept., Carolina Power & Light, 919-546-6189 (Direct Line, 24-hrs.)/
 (CPL)


CO: Carolina Power & Light ST: North Carolina, South Carolina IN: UTI SU: ERN

SB-MM -- CH007 -- 9626 01/27/93 11:56 EST
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Date:Jan 27, 1993
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