October 25, 2002

FPL Group, Inc. announces the renewal of its 364-day credit facility; total credit facilities exceed $3 billion

JUNO BEACH, Fla. -- FPL Group, Inc. (NYSE: FPL) today announced the renewal of its existing 364-day credit facility. In conjunction with the previously existing multi-year portion of the credit facility, total credit facilities exceed $3 billion. Approximately $1 billion of the total credit facilities is dedicated to Florida Power & Light Company with the remaining $2 billion allocated to FPL Group Capital Inc.

Moray Dewhurst, chief financial officer for FPL Group, said, "I am pleased to announce the renewal of our 364-day corporate credit facility. With the renewal of this facility we have over $3 billion of credit lines to support the daily operations of the company. Liquidity is extremely important in today's market and I am pleased to have the support of our banking partners. Receiving this amount of credit support at this time is a testament to the financial strength of the company and a confirmation of our commitment to financial discipline."

JP Morgan, Citibank, Bank of America, and Wachovia were the lead arrangers on the transaction which included a total of 21 banks.

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.