February 14, 2003

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 58 cents to 60 cents a share. The dividend is payable March 17 to stockholders of record Feb. 28.Today's board action raises the annual dividend to $2.40 and marks the 229th consecutive quarterly dividend paid to common stockholders over the past 57years.

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 24 states, it is widely recognized as one of the country's premier power companies. Its principal subsidiary, Florida Power & Light Company, serves more than 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.FPLEenergy.com.

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