February 11, 2002

FPL Group board increases dividend

JUNO BEACH, Fla. - The board of directors of FPL Group, Inc. (NYSE: FPL) today increased the quarterly common stock dividend from 56 cents to 58 cents a share. The dividend is payable March 15 to stockholders of record Feb. 22.

Today's board action raises the annual dividend to $2.32 and marks the 225th consecutive quarterly dividend paid to common stockholders over the past 56 years.

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 more than a dozen states, it is widely recognized as one of the country's premier power companies. Its principal subsidiary, Florida Power & Light Company, serves approximately 3.9 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. Additional information is available on the Internet at www.fplgroup.com, www.fpl.com and www.fplenergy.com.