QUANTUMONLINE.COM SECURITY DESCRIPTION:  PPL Capital Funding Trust I, 7 3/4% Premium Equity Participating Security (PEPS) Units, stated amount $25 per unit, initially consisting of PEPS Units which include a stock purchase contract and a 7.29% PPL Capital Funding Trust I Trust Preferred Security with a principal amount of $25. The stock purchase contract requires the holder to purchase for $25 a variable number of shares of PPL Corp. (NYSE: PPL) common stock no later than 5/18/2004 and pays a contract adjustment rate of 0.46% per annum. The stock purchase settlement rate will be 0.3845 shares per unit if the then current market price is equal to or greater than $65.03 and 0.4690 shares per unit if the market price is equal to or less than $53.30. For market prices between those values the settlement rate will be $25 divided by the market value. Prior to the IPO of this security, the last reported sale price of the common stock on 5/03/2001 was $53.30. The trust preferred security is due 5/18/2006 and is subject to reset and remarketing on or after 2/18/2004. The PEPS Units pay quarterly distributions of 7.75% ($1.9375) per annum on 2/18, 5/18, 8/18 & 11/18 to holders of record on the first day of the month in which the payment is due. The trust preferred securities are pledged as collateral to secure the holder's obligations under the stock purchase contract. The holder has the right at any time to convert the PEPS Units to Treasury PEPS Units by the substitution of a specified zero-coupon U.S. Treasury security for the trust preferred securities and to later recreate PEPS Units. See the IPO prospectus for extensive additional information on the PEPS units and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Conversion Shares@Price	Distribution Dates	15% Tax Rate
NYSE Chart	7.75% $1.9375	$25.00 N/A	5/18/2004 5/18/2006	Baa3 BBB 2/17/2004	0.3845@$65.03+ 0.4690@$53.30-	2/18, 5/18, 8/18 & 11/18 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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HOME PAGE:     http://www.pplweb.com/
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Email Address	invrel@pplweb.com
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Address and Phone Numbers

Address:   Two North Ninth Street, Allentown, PA 18101
Main Phone Number	610-774-5151
Fax Number	610-774-5106
Investor Relations   Tim Paukovits	610-774-4124
Toll Free Phone Number	800-345-3085

CEO - William F. Hecht

CFO - John R. Biggar