Juno Beach, Fla. – FPL Group Capital Inc today announced the sale of $350 million principal amount of Series F Junior Subordinated Debentures bearing interest at 8.75 percent per year and maturing March 1, 2069, and has granted the underwriters an option to purchase an additional $52.5 million of junior subordinated debentures to cover over-allotments. The junior subordinated debentures will be guaranteed by FPL Group Capital’s parent company, FPL Group, Inc. (NYSE: FPL). Both the junior subordinated debentures and the guarantee are subordinated to senior indebtedness.

The junior subordinated debentures were offered to the public at a price of $25.00 per debenture.

Net proceeds from the sale will be added to FPL Group Capital’s general funds, and FPL Group Capital expects to use its general funds to repay a portion of commercial paper issued to fund investments by FPL Group Capital in independent power projects, including renewable power projects.

The sale was underwritten by a group that includes Banc of America Securities LLC, Citigroup Global Markets Inc., Morgan Stanley & Co. Incorporated, UBS Securities LLC and Wachovia Capital Markets, LLC as joint book-running managers.  The junior co-managers were Raymond James & Associates, Inc. and RBC Capital Markets Corporation.  Morgan Stanley & Co. Incorporated and Wachovia Capital Markets, LLC acted as structuring advisors for this transaction.

FPL Group: Energy Solutions for the Next Era
FPL Group (NYSE: FPL) is a leading clean energy company with 2008 revenues of more than $16 billion, approximately 39,000 megawatts of generating capacity, and more than 15,000 employees in 27 states and Canada.  Headquartered in Juno Beach, Fla., FPL Group’s principal subsidiaries are NextEra Energy Resources, LLC, the largest generator in North America of renewable energy from the wind and sun, and Florida Power & Light Company, which serves 4.5 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the country.  Through its subsidiaries, FPL Group collectively operates the third largest U.S. nuclear power generation fleet.  For more information about FPL Group companies, visit these Web sites:www.FPLGroup.com, www.NextEraEnergyResources.com, www.FPL.com.