FPL Group names Armando Olivera president of Florida Power & Light Co.

June 25, 2003 — FPL Group, Inc. announced Tuesday the appointment of Armando Olivera to serve as president of its principal subsidiary Florida Power & Light Company. Olivera, 53, had previously served as senior vice president of power systems for the Florida-based utility.

Olivera, a thirty-year veteran of the company, has served in a variety of management positions in the areas of transmission and distribution operations, fuels management, and strategic planning and resource allocation. He succeeds Paul Evanson, who earlier this month was named chairman, president and CEO of Allegheny Energy.

“Armando brings a wealth of experience and a proven track record in operational excellence. He is an extremely bright and highly energetic leader, and well-equipped to lead the continued success of one of the best electric utilities in the nation,” said Lew Hay, chairman and CEO of FPL Group.

“We are fortunate to have such a well-qualified internal candidate who I am confident will bring a combination of continuity as well as a fresh perspective to our utility operations,” Hay added.

During Olivera’s leadership of power systems, FPL significantly increased service reliability, placing its performance within the top 20 percent of the industry. At the same time, the company’s operations and maintenance costs per kilowatt hour were well below the industry average. Over that five-year period, FPL added 350,000 new customers, and Olivera oversaw a multi-billion dollar capital expansion program to meet that growth and enhance overall system reliability.

“I am delighted to serve as president of such an outstanding organization,” said Olivera. “We have a dedicated team of nearly 10,000 FPL employees who are focused on delivering low-cost, reliable power with high quality customer service. We will strive to continue to improve our ability to meet or exceed our customers’ expectations. My goal is to nurture and foster our high performance culture, thereby continuing to serve the needs of our employees, customers and shareholders.”

Olivera holds a bachelor of science degree in electrical engineering from Cornell University and a master of business administration degree from the University of Miami. He also is a graduate of the professional management development program of the Harvard Business School.

Olivera is vice chairman of the Florida Reliability Coordinating Council and is a member of the committee on power delivery of the Association of Edison Illuminating Companies.

FPL Group, with annual revenues of more than $8 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 24 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 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.

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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