Item 7.01 Regulation FD Disclosure

James H. Miller, Chairman, President and Chief Executive Officer of PPL Corporation ("PPL"), has established a pre-arranged stock trading plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934 and PPL's policies regarding stock transactions. This trading plan covers (i) the exercise of 72,200 stock options granted to Mr. Miller in 2003 and the sale of the underlying shares; and (ii) the sale of the shares of PPL common stock he will receive, after withholding shares to cover payment of taxes, upon the vesting of 60,000 restricted stock units granted in 2001. The plan is being established to permit Mr. Miller to diversify a portion of his holdings in excess of his stock ownership requirement under PPL's Executive Equity Ownership Guidelines (currently five times annual base salary).

Certain other executive officers of PPL have or are expected to enter into trading plans to sell PPL common stock in accordance with Rule 10b5-1 and PPL's policies regarding stock transactions, including PPL's Executive Equity Ownership Guidelines. Any sales of stock by Mr. Miller or other PPL executive officers under these plans will be reported in accordance with the applicable rules of the Securities and Exchange Commission.

---