FPL FiberNet

Focusing on metro markets

FPL Group's fiber-optic subsidiary, FPL FiberNet, provides wholesale telecommunications services in Florida to major local, long-distance, and wireless telecommunications companies and Internet service providers. The company supplies long-haul network capability to Florida Power & Light, ensuring a robust and cost-effective communications link among FPL plants and operations.

Florida is the nation's fourth largest telecommunications market. Since its inception in 2000, FPL FiberNet has successfully focused on building its intra-city network in major metropolitan areas in the state, where demand continues to grow.

The company anticipates little improvement in the depressed telecommunications market in the near term. As a result, it will make very limited investments in the business and expects to be at or near break even in 2003. Longer term, the company is well positioned to profit from the strong underlying growth of data communications usage.