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FPL ANNOUNCES SALE OF PREFERRED STOCK

 MIAMI, June 16 /PRNewswire/ -- Florida Power & Light Company (FPL) today accepted an offer of $99.125 per share as the net price to the company for the sale of 500,000 shares of FPL's Preferred Stock, $100 Par Value, Series T. The preferred stock will have a dividend rate of 7.05 percent and pay an annual dividend of $7.05 per share. The effective cost to FPL will be 7.11 percent.
 The preferred stock will be offered to the public at a price of $100 per share by Merrill Lynch & Co. The effective yield to the public will be 7.05 percent.
 The net proceeds from the sale will be added to FPL's general funds and are expected to be used, along with other funds, to redeem all 500,000 shares of FPL's 8.84 percent Preferred Stock, Series L. The redemption is expected to occur on or about Aug. 2, 1993.
 A copy of the prospectus relating to these securities can be obtained from Merrill Lynch & Co.
 FPL is one of the largest investor-owned electric utilities in the nation and the principal subsidiary of FPL Group, Inc. (NYSE: FPL).
 -0- 6/16/93
 /CONTACT: Dale Thomas of Florida Power & Light Co., 305-552-3894 or 305-552-3895/
 (FPL)


CO: Florida Power & Light Co. ST: Florida IN: UTI SU: OFR

AW -- FL009 -- 2774 06/16/93 16:53 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
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