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FPL GROUP REPORTS OPERATING RESULTS FOR FOURTH QUARTER, 12 MONTHS OF 1991

 FPL GROUP REPORTS OPERATING RESULTS
 FOR FOURTH QUARTER, 12 MONTHS OF 1991
 JUNO BEACH, Fla., Jan. 23 /PRNewswire/ -- FPL Group, Inc. (NYSE: FPL), parent company of Florida Power & Light Company, today reported unaudited operating results for the fourth quarter and 12 month periods ended Dec. 31, 1991.
 For the fourth quarter, FPL Group's income from continuing operations increased to $42 million, or $0.25 per share, from $31 million, or $0.22 per share, in the fourth quarter a year ago. Florida Power & Light Company contributed $39 million to FPL Group's net income compared with $38 million last year.
 For the full year 1991, operating revenues increased 4 percent to $5.2 billion from $5.0 billion on 1990. FPL Group's 1991 income from continuing operations was $376 million, or $2.31 per share, compared with $298 million, or $2.18 per share, for 1990.
 "Income from continuing operations in 1991 would have been $432 million, or $2.65 per share, without an after-tax charge of $56 million taken in the second quarter for restructuring of the utility operations," said James L. Broadhead, chairman and chief executive officer of FPL Group. "This compares with 1990 income from continuing operations of $361 million, or $2.64 per share, excluding writedowns associated with the disposition of several non-utility businesses."
 The average number of common shares outstanding for 1991 increased to 163 million from 137 million, an increase of 19 percent.
 FPL Group, Inc. is a holding company whose principal subsidiary is Florida Power & Light Company, one of the largest electric utilities in the nation. FPL Group's common stock is listed on the New York, Tokyo and London stock exchanges.
 FPL GROUP, INC.
 Financial Summary
 (in thousands, except per share amounts)
 Three Months Ended Dec. 31,
 1991 1990
 Revenues:
 Utility $1,160,067 $1,230,157
 Non-utility $ 21,179 $ 31,268
 Total Revenues $1,181,246 $1,261,425
 Income from continuing
 operations $ 42,363 $ 30,959
 Discontinued operations -- $ 10,448
 Net Income $ 42,363 $ 41,407
 Income from continuing
 operations per share $ 0.25 $ 0.22
 Discontinued operations per
 share -- $ 0.07
 Earnings per share $ 0.25 $ 0.29
 Average shares outstanding 166,711 141,544
 Twelve Months Ended Dec. 31,
 1991 1990
 Revenues:
 Utility $5,158,766 $4,987,690
 Non-utility $ 90,670 $ 98,655
 Total Revenues $5,249,436 $5,086,345
 Income from continuing
 operations (A) $ 376,148 $ 298,175
 Discontinued operations (B) $ (135,570) $ (689,180)
 Net income (loss) $ 240,578 $ (391,005)
 Income from continuing
 operations per share (A) $ 2.31 $ 2.18
 Discontinued operations
 per share (B) $ (0.83) $ (5.04)
 Earnings (loss) per share $ 1.48 $ (2.86)
 Average shares outstanding 163,101 136,732
 (A) -- 1991 includes a $56,138 ($0.34 per share) after-tax charge for restructuring and 1990 includes a $62,900 ($0.46 per share) after-tax write-down of investment in subsidiaries.
 (B) -- After-tax write-down of the investment in and operating losses of Colonial Penn, a former subsidiary sold in 1991.
 -0- 1/23/92
 /CONTACT: Dale Thomas of FPL Group, Inc., 305-552-3894 or 305-552-3895/
 (FPL) CO: FPL Group, Inc. ST: Florida IN: UTI SU: ERN


AW-SS -- FL005 -- 2920 01/23/92 15:05 EST
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Date:Jan 23, 1992
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