Released By Williams

GULFSTREAM NATURAL GAS SYSTEM REACHES FIRM TRANSPORTATION AGREEMENT WITH FLORIDA POWER & LIGHT COMPANY

TAMPA, Fla. – Gulfstream Natural Gas System, L.L.C. announced today the execution of a 23-year agreement with Florida Power & Light Company in which Gulfstream will provide up to 350 million cubic feet per day of firm natural gas transportation service to FPL for its Martin and Manatee power plant expansions.

Gulfstream will extend the Florida mainline it placed in service last year by approximately 110 miles to FPL’s Martin plant. The company anticipates construction of the previously certificated 30-inch diameter mainline extension from Polk County to Martin County and related lateral facilities to begin next year with a targeted completion in late 2004.

FPL plans to add one natural gas-fired, combined-cycle generating unit to its existing Manatee plant site in Parrish, Fla., and another to its existing Martin plant site in Indiantown, Fla. The two units, totaling 1,900 megawatts, will serve an additional 400,000 customers beginning in mid-2005.

The Federal Energy Regulatory Commission in February 2001 approved the construction and operation of the entire 753-mile Gulfstream pipeline project. The Florida Department of Environmental Protection issued its environmental permit in March 2001. Gulfstream later received permission from FERC to phase construction – placing 581 miles in service last May and the remainder in service at a later date.

“We are very pleased to have reached an agreement to provide natural gas transportation service to FPL’s Martin and Manatee power plant expansions,” said Guy Buckley, Gulfstream senior vice president and general manager. “We look forward to providing FPL with reliable, economic transportation services on both the east and west coasts of Florida for many years to come.”

“Our agreement with Gulfstream offers our customers two key benefits,” said Joe Stepenovitch, FPL director of energy marketing and trading.  “One is a very competitively-priced new source of natural gas transportation, and the other is the improved reliability resulting from having a second gas pipeline supplier for FPL.”

Since the Gulfstream project was initiated in 1999, company representatives have worked with state and local officials as well as civic and community groups to share information and answer questions about the project, conducting public meetings, delivering presentations and making information available through its web site.

Placed into service in May 2002, Gulfstream Natural Gas System is currently a 581-mile pipeline system with the capacity to deliver 1.1 billion cubic feet of natural gas each day to serve Florida’s growing energy needs. The pipeline is a joint development between Williams (NYSE:WMB) and Duke Energy (NYSE:DUK). Additional information is available on the Internet at www.gulfstreamgas.com or by calling the company toll-free at 1-888-GAS-4-FLA.

Florida Power & Light Company is the principal subsidiary of FPL Group, Inc. (NYSE: FPL), nationally known as a high-quality, efficient and customer-driven organization focused on energy-related products and services. With annual revenues of more than $8 billion and a presence in 24 states, FPL Group is widely recognized as one of the country's premier power companies. Florida Power & Light Company serves more than 4 million customer accounts in Florida. FPL Energy, Inc., FPL Group's energy-generating subsidiary, is a leader in producing electricity from clean and renewable fuels. Additional information is available on the Internet at www.FPL.com, www.FPLGroup.com and www.FPLEnergy.com.

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the companies believe any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995.

Contact:	Chris Stockton
Phone:	713/215-2010
24 Hour Phone:	n/a
Email:	Christopher.L.Stockton@Williams.com