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CP&L TO REDEEM BONDS

 CP&L TO REDEEM BONDS
 RALEIGH, N.C., July 14 /PRNewswire/ -- On August 17, 1992, Carolina


Power & Light (NYSE: CPL) plans to redeem in full three series of First Mortgage Bonds. The series are $40 million in First Mortgage Bonds, 8 3/4 percent Series due Jan. 1, 2000; $50 million in first Mortgage Bonds, 8 3/4 percent Series due Aug. 1, 2000; and $84.233 million in First Mortgage Bonds, 9 1/4 percent Series due June 1, 2008.
 The redemptions are subject to the deposit of sufficient cash with the trustee on Aug. 17, 1992. The company intends to pay bondholders of the 8 3/4 percent Series due Jan. 1, 2000, the principal amount of the bonds at the redemption price of $102.24, plus accrued interest to Aug. 17, 1992.
 For bondholders of the 8 3/4 percent Series due Aug. 1, 2000, the company intends to pay the principal amount of the bonds at the redemption price of $102.12, plus accrued interest to Aug. 17, 1992.
 The company intends to pay bondholders of the 9 1/4 percent Series due June 1, 2008, the principal amount of the bonds at the redemption price of $104.69, plus accrued interest to Aug. 17, 1992.
 -0- 7/14/92
 /CONTACT: Kyle Hampton, CP&L, 919-546-6189/
 (CPL) CO: Carolina Power & Light ST: North Carolina IN: UTI SU:


DF -- CH008 -- 9229 07/14/92 15:50 EDT
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Publication:PR Newswire
Date:Jul 14, 1992
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