October 18, 2002

FPL Group elects James L. Camaren to board of directors

JUNO BEACH, Fla. - FPL Group, Inc. (NYSE: FPL) today announced James L. Camaren has been elected to its board of directors. Camaren is chairman and chief executive officer of Utilities, Inc., one of the largest investor-owned water utilities with 275,000 customers in 17 states.

Camaren joined the company, based in North Brook, Ill., in 1987 and has served as vice president of business development, executive vice president, and vice chairman.

Since Camaren became chairman in 1996, Utilities, Inc. has had customer growth approximately three times the industry average; acquired and assimilated over 40 utilities, which has doubled the size of the customer base; achieved consistent annual returns on equity which has averaged more than 15 percent; realized a compounded annual growth rate for net income in excess of 15 percent; and increased the market value of shareholder equity approximately five-fold.

Nuon, a Dutch company, purchased Utilities, Inc. in March of this year.

Prior to joining Utilities, Inc., Camaren was a senior financial analyst for Amoco Corporation, responsible for financial evaluations of both exploration and production opportunities in Africa and the Middle East. Camaren holds a bachelor's degree in economics from UCLA and a master's of science degree in industrial administration from Carnegie-Mellon University.

Camaren is one of 13 members serving on the FPL Group board of directors.

Florida Power & Light Company is the principal subsidiary of FPL Group, Inc. (NYSE: FPL), nationally known as a high quality, efficient and customer-driven organization focused on energy-related products and services. With annual revenues of more than $8 billion and a presence in 20 states, FPL Group is widely recognized as one of the country's premier power companies. Florida Power & Light Company serves approximately 4 million customer accounts in Florida. FPL Energy, Inc., FPL Group's energy-generating subsidiary, is a leader in producing electricity from clean and renewable fuels. Additional information is available on the Internet at www.fpl.com, www.fplgroup.com and www.fplenergy.com.

 

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