April 12, 2004
FPL Group ranked #1 for environmental performance in Innovest report

JUNO BEACH, Fla. -- For the third consecutive time, FPL Group, Inc. (NYSE: FPL) has received the number one ranking among 26 electric utilities in the United States in the latest Innovest Strategic Value Advisors report that compares environmental performance.

Innovest is an internationally recognized independent investment research firm specializing in environmental finance and investment opportunities. The report analyzes the performance of 26 utilities in areas including corporate governance, environmental risk and management, environmental business performance, carbon profile, environmental strategy and air emissions improvement.

The report naming FPL as number one said, “FPL has below average risk, above average environmental management capacity, and above average engagement in environmentally-favorable businesses.”

Lew Hay, FPL Group chairman and CEO, said, "We're gratified that Innovest has again recognized our commitment to excellence. FPL Group utilizes a concept known as sustainability, which is a long-term approach to doing business in a responsible, accountable manner. Every day, our 11,000-plus employees strive to reach a balance of economic accountability, environmental stewardship and social responsibility.”

Innovest found that environmental leaders, as a group, consistently outperform in the stock market by three to 30 percentage points a year. “As environmental issues are having a growing financial impact on firms, we project that FPL will most likely outperform the sector going forward,” said Carla Tabossi, senior analyst at Innovest.

In a separate report issued by Innovest, the Intangible Value Assessment report, FPL Group ranked number two of 26 electric companies. This study ranks companies based on drivers related to sustainability, which include corporate labor relations, emerging market strategy, products and services, and overall corporate governance.

FPL Group companies were also recently recognized by other organizations for their environmental practices.

• In 2003, FPL Group was presented with the prestigious Edison Award, the electric power industry’s highest honor.
• Platts, the energy information and market services unit of The McGraw-Hill Companies, presented FPL Group with a 2003 Global Energy Award as “Renewable Company of the Year” for the company’s clean energy portfolio.
• Earlier this year, the National Arbor Day Foundation named Florida Power & Light Company a Tree Line USA utility for the second year. The Tree Line USA program is sponsored by the Arbor Day Foundation in cooperation with the National Association of State Foresters and recognizes utilities that meet three requirements: a program of quality tree care, annual worker training in quality tree care practices, and a tree planting and public education program.

FPL Group has many successful environmental programs:

• FPL Group’s emissions rates are among the lowest of the 100 largest electric generators in the nation. Within the past decade, FPL Group has reduced its CO2 emissions rate by 12 percent. It has reduced other emissions as well, including SO2 rate by 28 percent and NOx rate by 41 percent.
• FPL Energy is the world’s leading producer of wind-generated electricity. Approximately 25 percent of FPL Energy’s generating capacity comes from wind power, representing more than 2,700 net megawatts. FPL Energy also operates the world's largest solar fields and is a leading producer of hydroelectric power.
• This year, FPL answered a challenge from the World Wildlife Fund (WWF) to become one of the first U.S. power companies to support WWF’s PowerSwitch! Program, promoting a mandatory cap on heat-trapping carbon dioxide emissions and committed to a 15 percent improvement in electric generation efficiency. FPL operates programs throughout its service territory to protect the environment. They range from nurturing the endangered American crocodile in South Florida, to managing river flows in Maine in order to meet the habitat needs of nesting loons and numerous fish species.
• FPL leads the nation in energy management and conservation programs. Participation in programs by more than 1.5 million customers has helped reduce demand over the past two decades, enough to avoid building 10 power plants. The company introduced a Sunshine Energy program this year to support the generation of electricity from renewable sources such as solar, wind, and hydro.

FPL Group, with annual revenues of more than $9 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 26 states, it is widely recognized as one of the country's premier power companies. Its principal subsidiary, Florida Power & Light Company, serves more than 4.2 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.