Morgan Stanley Dean Witter Capital Partners Principal joins FPL FiberNet president to reveal Carriers' Carrier secrets of success

June 2, 2000

WASHINGTON, DC -- John B. Ehrenkranz, principal of Morgan Stanley Witter Capital Partners, and Neil Flynn, president of FPL FiberNet and chairman of the United Telecom Council (UTC) Business Development Division, will explore opportunities for utilities in the carriers' carrier market during a workshop entitled, "Carriers' Carrier Market Strategies: Dark Fiber or Dark Side of the Moon" from 9 a.m. to 10:15 p.m. on Tuesday, June 27 at the Phoenix Civic Plaza in Phoenix, Arizona.

The session is part of UTC Telecom 2000, the largest utility telecom conference and exhibition held annually for professionals who develop and manage telecommunications and IT systems for utilities, pipelines, and other critical infrastructure companies.

According to UTC President and CEO Bill Moroney, utilities are particularly suited for the billion-dollar carriers' carrier business. "UTC is pleased to host John Ehrenkranz, who has been a driver behind many such ventures and Neil Flynn, whose vision helped FPL FiberNet recently secure a $100 million-plus, long-term contract with SBC Communications to provide dark fiber in five major metropolitan cities in Florida."

If time permits, Flynn will moderate a special Deal-a-thon at the end of the session where attendees will be given 30 seconds to address the group and talk about deals they are interested in and deals they have to offer.

For more information or to register for UTC Telecom 2000, visit the web site at http://www.utc.org/telecom2000 or call 202.972.0030.

About FPL FiberNet

FPL FiberNet is the telecommunications subsidiary of FPL Group, Inc., (NYSE: FPL), one of the nation's largest providers of electricity-related services with annual revenues of more than $6 billion. Florida Power & Light Company, with 3.8 million customer accounts in Florida, is FPL Group's principal subsidiary. FPL Energy, LLC, is FPL Group's U.S. and international energy-generating subsidiary and a leader in producing electricity from clean and renewable fuels. Additional Information about FPL FiberNet is available on the Internet at http://www.fplFiberNet.com.

About Morgan Stanley Dean Witter Capitol Partners

Morgan Stanley Dean Witter Capital Partners manages a group of funds that invest in companies operating in a broad range of industries including telecommunications, financial services, healthcare, technology, energy and chemicals on a global basis. Capital Partners has invested over $3 billion in more than 60 companies since its inception 15 years ago. Capital Partners' current fund, Morgan Stanley Dean Witter Capital Partners IV, is capitalized at $3 billion.

About UTC

Founded in 1948, the United Telecom Council is a global non-profit association representing the telecommunications and information technology interests of electric, gas, and water utilities; natural gas pipelines; and other critical infrastructure companies and their strategic business partners.

Release issued by United Telecom Council (UTC) on June 2.
Contact: Makita Weaver, 202-872-0030 x 206, e-mail: Mweaver@utc.org