Jan. 30, 2003

FPL Energy begins construction of second New York City peaking unit

JUNO BEACH, Fla. -- FPL Energy, LLC, a subsidiary of FPL Group (NYSE:FPL) today announced it has begun construction of a 54-megawatt dual fuel peaking unit to supply electricity to the Long Island Power Authority (LIPA) for the Rockaway Peninsula in Queens County, New York City.

The new facility will be adjacent to FPL Energy's existing Bayswater Energy Center and will be capable of using fuel oil or natural gas to generate electricity. FPL Energy expects to complete construction of Jamaica Bay Energy Center by early summer, 2003, in time to provide power during the area's warm summer months. The output of the facility will be sold to LIPA under a long-term power contract. It is anticipated that the facility will operate only during periods of peak demand and will help meet the growing energy demands of the Rockaway Peninsula.

"We're excited about the opportunity to develop another power plant to help meet the growing energy needs in the New York market and, together with LIPA, bring needed power supply to the Rockaway Peninsula," said Jim Robo, FPL Energy President.

The Jamaica Bay Energy Center will be FPL Energy's second power generation facility in New York. In July, 2002, FPL Energy began commercial operation at the 54-megawatt Bayswater Energy Center. The output from the Bayswater facility is also sold to LIPA under a long-term power contract.

FPL Energy is a leading independent producer of clean energy, including natural gas, wind, solar, hydroelectric and nuclear. Wind power represents approximately 24 percent of the company's portfolio, with more than 80 percent being fueled by renewable or clean-burning sources. It has more than 80 facilities, with nearly 7,300 megawatts in operation. It is a subsidiary of FPL Group, Inc., nationally known as a high quality, efficient and customer-driven organization focused on energy-related products and services. Its sister subsidiary, Florida Power & Light Company, serves approximately 4 million customer accounts in Florida. Additional information is available on the Internet at www.FPLGroup.com, www.FPL.com and www.FPLEnergy.com.