FPL Group Inc
Industry: Electric Utilities

FPL Group, with annual revenues of more than $8 billion, is nationally known as a high quality, efficient, and customer-driven organization focused on energy-related products and services. With a growing presence in 24 states, it is widely recognized as one of the country's premier power companies. Its principal subsidiary, Florida Power & Light Company, serves approximately 4 million customer accounts in Florida. FPL Energy, LLC, an FPL Group energy-generating subsidiary, is a leader in producing electricity from clean and renewable fuels.

Business Summary
FPL Group, Inc. is a public utility holding company. FPL Group's principal subsidiary, Florida Power & Light Company (FPL), is a rate-regulated utility engaged in the generation, transmission, distribution and sale of electric energy. FPL serves more than eight million people along the eastern seaboard and southern portion of Florida. FPL Energy LLC, FPL Group's wholesale energy subsidiary, produces electricity primarily utilizing natural gas, wind and nuclear resources. Together, FPL's and FPL Energy's generating assets represent approximately 30,000 megawatts of capacity. FPL FiberNet, LLC provides fiber-optic services to FPL, telecommunications companies and other customers throughout Florida.

Financial Summary
FPL Group, Inc. is engaged in the generation, transmission, distribution and sale of electric energy to 4.1 million customers throughout most of the east and lower west coasts of Florida. FPL is also involved in independent power projects. For the six months ended 6/30/05, revenues rose 5% to $5.18B. Net income fell 14% to $340M. Results reflect strong growth in customer accounts, offset by increased costs for fuel, purchased power, and interchange.