Item 8.01 Other Events
As previously disclosed, PPL Montana, LLC ("PPL Montana") has been engaged in
litigation in Montana First Judicial District Court (the "Court") regarding a
claim by the State of Montana for annual lease payments or other compensation
for PPL Montana's use and occupancy of certain portions of the beds of navigable
rivers in Montana for operation of hydropower facilities. On June 16, 2008, the
Court ruled that the State of Montana is entitled to back rent from PPL Montana
of approximately $34.7 million for the period between 2000 and 2006, and
approximately $6.2 million for 2007. In addition, the Court ruled that the
Montana State Land Board must determine the terms and conditions of annual
leases, including payments due from PPL Montana, for 2008 and subsequent years.
PPL Montana is reviewing the Court's decision and will determine whether to
appeal the decision to the Montana Supreme Court. PPL Montana will assess the
accounting implications of the decision as part of the financial closing for the
second quarter of 2008.
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