PPL strengthens risk management function with new executive

ALLENTOWN, Pa., Dec. 5, 2002 — To further strengthen its existing risk management process, PPL Corp. has named a vice president of risk management.

Vijay Singh will report to PPL Chairman, Chief Executive Officer and President William F. Hecht.

Singh will chair the company’s existing Risk Management Committee, which comprises senior officers of key business functions. He will oversee the full spectrum of corporate risks throughout PPL, including business risks associated with energy, interest rates, foreign currency exchange rates, credit, insurance and project development.

“Our chief risk officer will fill a key role in the system we established to identify and manage the various risks associated with our business,” said Hecht. “He will integrate the risk management functions that already exist in key areas of our company and assess overall corporate exposures.”

Singh, who will start Dec. 16, will work closely with PPL’s treasury and insurance departments, its energy marketing and trading operation, and other business units, Hecht said. He will be an officer and employee of PPL’s services subsidiary.

Singh currently works as vice president and risk control officer at ConAgra Foods, Inc., in Omaha, Neb., where he is responsible for monitoring commodity, interest rate and currency risk.

Previously, Singh was director of pricing and quantitative analysis and a senior financial economist at Cinergy Power Markets and Trading, Florence, Ky.

Singh holds a Ph.D. in finance from Ohio State University, a master’s degree in finance and international business from the Asian Institute of Management in Manila, the Philippines, and a bachelor’s degree in economics and mathematics from University of Delhi in New Delhi, India.

Before joining Cinergy, Singh was an assistant professor of finance at the University of Pittsburgh, Georgia Tech and George Mason University. Prior to that, he was a senior financial analyst at The Hong Kong and Shanghai Bank in Hong Kong, was a consultant for Phil-Fuji Xerox Corp. in the Philippines, and held various positions at the State Bank of India in Delhi, India.

PPL Corporation, headquartered in Allentown, Pa., controls about 11,500 megawatts of generating capacity in the United States, sells energy in key U.S. markets and delivers electricity to customers in Pennsylvania, the United Kingdom and Latin America.

Source: PPL Corporation

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