August 20, 2002

FPL Group elects Frank Zarb to board of directors

JUNO BEACH, Fla. - FPL Group, Inc. (NYSE: FPL) today announced Frank G. Zarb has been elected to its board of directors. Frank G. Zarb is chairman of Frank Zarb Associates. He serves as senior advisor to Hellman and Friedman LLC, The Nasdaq Stock Market, Inc., and the NASD.

Zarb became chairman and chief executive officer of Nasdaq and its parent organization, the National Association of Securities Dealers, Inc. (NASD), in 1997. He served as Nasdaq CEO until 2000 and chairman until 2001.

Most recently, Zarb was appointed to the board of directors of the Lower Manhattan Development Corporation, an organization charged with overseeing the development of the Downtown New York City area following the Sept. 11 World Trade Center attacks, by New York Governor George Pataki.

From 1994 to 1997, Zarb was CEO and president of Alexander & Alexander Services, Inc., a global organization providing risk management, insurance brokerage and human resource management consulting. Prior to that he was vice chairman and Group CEO of The Travelers, Inc. and chairman and CEO of Smith Barney, a Travelers subsidiary, which he joined in 1988. He was a senior partner at Lazard Freres & Co. from 1978 to 1988.

Zarb has played a key role in national and regional energy policy having served from 1974 to 1977 as the senior official for all U.S. government energy-related activities. During that time he was executive director of the cabinet-level Energy Resources Council, administrator of the Federal Energy Administration and assistant to the president for energy affairs. He also served as chairman of the Long Island Power Authority, the state agency responsible for overseeing the restructuring of the electric power system of Long Island.

He currently serves as a member of the board and chairman of the executive committee of the American International Group (AIG) and a member of the board of trustees of the Gerald R. Ford Foundation and Hofstra University.

Zarb earned his B.S. and M.B.A. degrees in business from Hofstra University and was awarded an honorary doctor of law degree by the university and the school's Outstanding Scholar Award. The Georgetown University McDonough School of Business conferred an honorary doctorate on him in 2000.

Zarb is one of 12 members serving on the FPL Group board of directors.

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 20 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. Additional information is available on the Internet at www.fplgroup.com, www.fpl.com and www.fplenergy.com.