PPL Completes Final Leg of Financing Related to Recent U.K. Acquisition

By Ppl Corporation, PRNE
Monday, May 16, 2011

LONDON, May 17, 2011 - PPL Corporation (NYSE: PPL) has completed the permanent financing related
to its acquisition of the former Central Networks electricity distribution
companies in the United Kingdom.

The acquired companies are operated by PPL's Western Power Distribution
under the names WPD East Midlands and WPD West Midlands.

WPD East Midlands and WPD West Midlands together have issued 1.4 billion
pounds Sterling of corporate bonds. The issue comprised 600 million pounds of
WPD East Midlands 5.25 % notes due 2023 and 800 million pounds of WPD West
Midlands 5.75 % notes due 2032.

The net proceeds from the offerings will be used to repay the remaining
1.2 billion pounds in outstanding indebtedness under the 3.6 billion pounds
bridge loan facility used to fund the purchase price for Central Networks
acquisition, as well as to pre-fund capital expenditure work. PPL expects the
bridge loan to be fully repaid on May 18, 2011.

Arrangers for the offerings were Barclays Bank plc, Credit Suisse
Securities (Europe) Limited, Merrill Lynch International and The Royal Bank
of Scotland plc. The notes have not been, and will not be, registered under
the Securities Act or securities laws of any other jurisdiction and may not
be offered or sold in the United States absent registration or pursuant to an
applicable exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and any other applicable
securities laws. This press release does not constitute an offer to sell or
the solicitation of an offer to buy the notes, nor shall it constitute an
offer, solicitation or sale in any jurisdiction in which such offer,
solicitation or sale is unlawful.

PPL Corporation, headquartered in Allentown, Pa., through its affiliated
companies, owns or controls about 19,000 megawatts of regulated and
competitive generating capacity in the United States, sells energy in key
U.S. markets, and delivers electricity and natural gas to about 10 million
customers in the United States and the United Kingdom.

Statements contained in this news release which are not historical facts
are "forward-looking statements" within the meaning of the federal securities
laws. Although PPL Corporation believes that the expectations and assumptions
reflected in these forward-looking statements are reasonable, these
statements are subject to a number of risks and uncertainties, and actual
results may differ materially from the results discussed in the statements.
Any such forward-looking statements should be considered in light of such
risks and uncertainties and in conjunction with PPL Corporation's Form 10-K
and other of its periodic reports on file with the Securities and Exchange

For news media - Dan McCarthy, +1-610-774-5758, For financial analysts - Joseph P. Bergstein, +1-610-774-5609, both of PPL Corporation; Note to Editors: Visit our media website at www.pplnewsroom.com for additional news and background about PPL Corporation.

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