FPL Group, Inc. today announced that Moray Dewhurst has been elected chief financial officer of the $7 billion electricity-related services company. He will assume his new position mid-July.

Mr. Dewhurst, age 46, previously served as a senior partner and director of Dean & Company, a management consulting and investment firm that he co- founded in 1993. While at Dean, he worked closely with FPL Group and its businesses. Under contract with FPL Group and Entergy Corporation, Mr. Dewhurst had the responsibility for leading the financial integration team for the two companies prior to their merger being terminated in April. He also has assisted FPL Group's independent power producer subsidiary, FPL Energy, in assessing its operations and subsequently redesigning business processes, as well as developing analytical tools and techniques to enhance business operations and planning.

"We are fortunate to have Moray Dewhurst join the FPL Group team," said Lew Hay, president and chief executive officer. "Moray has vast experience working with Fortune 100 companies in developing and refining business operations and strategies that have resulted in significant enhancements to company performance and shareholder value."

Prior to forming Dean & Company, Mr. Dewhurst was a senior partner at Mercer Management Consulting and predecessor management consulting companies. He has extensive experience working with companies that have faced industry deregulation issues such as the telecommunications sector. A substantial portion of Mr. Dewhurst's practice has involved acquisitions and divestitures, financial policy and structure issues and financial restructurings.

Mr. Dewhurst has a bachelor of science degree in naval architecture and marine engineering from Massachusetts Institute of Technology and a masters in business administration from the MIT Sloan School of Management. While at the Sloan School, he was awarded the Henry Ford II Award for outstanding scholastic achievement and co-authored papers on pension fund investment policy with Fischer Black, an economist known for his work in co-developing the Black-Scholes option-pricing formula.

FPL Group, with annual revenues of more than $7 billion, is one of the nation's largest providers of electricity-related services. Its principal subsidiary, Florida Power & Light Company, serves approximately 3.9 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 http://www.fplgroup.com/, http://www.fpl.com/ and http://www.fplenergy.com/.

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SOURCE: Florida Power & Light Company