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PPL Montana reaches agreement to sell hydroelectric facilities



        PPL Montana reaches agreement to sell hydroelectric facilities

Includes more than 630 megawatts of generating capacity

PR Newswire

ALLENTOWN, Pa., Sept. 26, 2013

ALLENTOWN, Pa., Sept. 26, 2013 /PRNewswire/ -- PPL Corporation (NYSE: PPL)
announced Thursday (9/26) that its PPL Montana, LLC subsidiary has reached an
agreement to sell its hydroelectric facilities to NorthWestern Energy for $900
million in cash, subject to certain adjustments.

The agreement includes PPL Montana's 11 hydroelectric power plants, which have
a combined generating capacity of more than 630 megawatts, as well as the
company's Hebgen Lake reservoir. The sale is expected to close in the second
half of 2014 and will require regulatory approvals, including approval from
the Federal Energy Regulatory Commission and Montana Public Service
Commission.

"This is an opportunity to secure attractive shareowner value for
high-performing, non-carbon assets," said William H. Spence, chairman,
president and chief executive officer of PPL Corporation.

The agreement does not include PPL Montana's interest in the Colstrip facility
or its J.E. Corette coal-fired facility located near Billings.  The Colstrip
plant is jointly owned by PPL Montana and five other companies, including
NorthWestern Energy. PPL Montana previously announced that it plans to
mothball the Corette plant in April 2015.

The agreement also does not include the Butte-based power marketing and
trading operations of PPL Montana's marketing and trading affiliate, PPL
EnergyPlus, LLC. PPL EnergyPlus will continue to market the output of PPL
Montana's remaining generation assets and continue to serve its current and
prospective customers.

In a related transaction, PPL Montana will pay $271 million to terminate a
sale-leaseback arrangement for its interest in the Colstrip coal-fired
facility. Termination of the lease is expected to be completed by the end of
2013 and is subject to approval of the Federal Energy Regulatory Commission.

PPL estimates that the total net proceeds of the sale of its Montana
hydroelectric facilities, the termination of the sale-leaseback agreement, and
other adjustments, on the terms set forth in the applicable agreements, will
be approximately $623 million.

PPL Montana's hydroelectric facilities include its Thompson Falls Dam on the
Clark Fork River; Kerr Dam on the Flathead River; Madison Dam on the Madison
River; Hauser, Holter, Black Eagle, Rainbow, Cochrane, Ryan and Morony dams
along the Missouri River; and Mystic Lake Dam on West Rosebud Creek.

UBS Investment Bank and RBC Capital Markets LLC served as PPL's financial
advisors. Simpson Thatcher & Bartlett LLP served as PPL's legal advisor.

PPL Corporation, with 2012 revenue of more than $12 billion, is one of the
largest companies in the U.S. utility sector. The PPL family of companies
delivers electricity and natural gas to about 10 million customers in the
United States and the United Kingdom, owns more than 18,000 megawatts of
generating capacity in the United States and sells energy in key U.S. markets.
More information is available at www.pplweb.com.

Certain statements contained in this news release, including statements with
respect to future earnings, cash flow and business conditions, 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. Among the
important factors that could cause actual results to differ materially from
the forward-looking statements are: political, regulatory or economic
developments and conditions, and requirements or conditions that could be
imposed in connection with obtaining necessary regulatory approvals. Any such
forward-looking statements should be considered in light of such factors and
in conjunction with other factors described in PPL Corporation's Form 10-K and
other reports on file with the Securities and Exchange Commission.

SOURCE PPL Corporation

Website: http://www.pplweb.com
Contact: Montana news media -- David Hoffman, 406-431-6783; Other news media
-- George C. Lewis, 610-774-5997; Financial analysts -- Joseph P. Bergstein,
610-774-5609
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