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PENNSYLVANIA POWER & LIGHT TO REDEEM TWO SERIES OF PREFERRED SHARES

PENNSYLVANIA POWER & LIGHT TO REDEEM TWO SERIES OF PREFERRED SHARES
 ALLENTOWN, Pa., Dec. 18 /PRNewswire/ -- Pennsylvania Power & Light Co. (NYSE: PPL) (PP&L) announced today that it will redeem all 258,900 outstanding shares of its 9.24 percent series preferred stock, and all 77,630 outstanding shares of its 9 percent series preferred stock on Feb. 1, 1992.
 The redemption price for the 9.24 percent series will be $101.77 per share. The 9 percent series will be redeemed at $101.75 per share. The redemption price includes dividends accrued to the date of redemption of 77 cents per share for these 9.24 percent series and 75 cents for the 9 percent series.
 Holders of the preferred shares will receive instructions by the end of December regarding details of the redemption.
 PP&L supplies electricity to a 10,000 square-mile area of 29 counties in Central Eastern Pennsylvania. Among the communities it serves are Allentown, Bethlehem, Harrisburg, Hazleton, Lancaster, Scranton, Wilkes-Barre and Williamsport.
 /delval/
 -0- 12/18/91
 /CONTACT: John R. Biggar of Pennsylvania Power & Light, 215-774-5613/
 (PPL) CO: Pennsylvania Power & Light Co. ST: Pennsylvania IN: UTI SU:


CC -- PH026 -- 3548 12/18/91 16:05 EST
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Publication:PR Newswire
Date:Dec 18, 1991
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