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Business Description
FPL Group, Inc. is a public utility holding company. FPL Group's principal subsidiary, FPL, is engaged in the generation, transmission, distribution and sale of electric energy. FPL Group Capital, a wholly owned subsidiary of FPL Group, holds the capital stock and provides funding for the operating subsidiaries other than FPL. The business activities of these operating subsidiaries primarily consist of FPL Energy's non-rate regulated power projects. FPL supplies electric service to a population of nearly eight million throughout most of the east and lower west coasts of Florida. During 2001, FPL served approximately 3.9 million customer accounts. FPL owns and operates four nuclear units: two at Turkey Point and two at St. Lucie.

Financial Information
FPL Group, Inc. is engaged in the generation, transmission, distribution and sale of electric energy to 3.9 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 6/30/02, revenues fell less than 1% to $4.09 billion. Net income before acct. change rose 26% to $416 million. Results reflect lower fuel costs, offset by the absence of merger-related costs.