EXHIBIT 99.(C)

FLORIDA POWER CORPORATION
Corporate Communications
3201 34th Street South
St. Petersburg, FL  33711
(813) 866-4334
                                  NEWS RELEASE

For more information contact:
Karen Raihill
(813) 866-5023


                     ALLEN J. KEESLER, JR., PLANS TO RETIRE
                AS PRESIDENT AND CEO OF FLORIDA POWER CORPORATION


         St.  Petersburg,  FL (January 17, 1996) -- Allen J.  Keesler,  Jr., 57,
President and Chief Executive  Officer of Florida Power  Corporation since 1988,
today  announced he will end his 33-year  career with the utility by retiring on
April 1.

         Florida  Progress  Chairman and CEO Dr. Jack B.  Critchfield  said that
Keesler's upcoming  retirement  provides the opportunity for the company to plan
an orderly  succession of top management for Florida Progress and Florida Power.
To begin that process,  Critchfield said that he will relinquish his position as
Chairman  of  Florida  Power.  This  responsibility  will be  assumed by Richard
Korpan,  who  will  become  Chairman  and  CEO of  Florida  Power  as  part of a
transition  period of up to one year.  Korpan  also will  retain  his  executive
responsibilities at Florida Progress as President and Chief Operating Officer.

         Joseph H.  Richardson,  46,  will be promoted  to  President  and Chief
Operating  Officer of Florida Power,  effective April 1. Richardson is currently
Senior Vice President, Energy Distribution.

         "Over the last several  years,  Allen Keesler has made some tough,  but
very necessary, decisions to prepare Florida Power for increasing changes in the
industry. Under his leadership the company has become much better positioned for
a more  competitive  marketplace.  We appreciate all his  contributions  to this
company and wish him well," Critchfield said.

         Keesler,  who joined Florida Power in 1963, has seen Florida Power, the
second-largest electric utility in the state, grow from 325,000 customers to now
serving 1.3 million  customers.  In 1982 he became  President and CEO of Talquin
Corporation,  Progress'  former  real estate  subsidiary,  before  returning  to
Florida Power more than eight years ago as  President.  Earlier in his career he
had held several positions in engineering and operations.

         Korpan joined Florida  Progress in 1989 as Executive Vice President and
Chief Financial  Officer.  He has been President and COO of Progress since 1991.
He has 20 years of utility  experience  with Public Service  Company of Colorado
and San Diego Gas & Electric Company.

                                     (more)


Keesler plans retirement
Page 2


         Richardson,  who was Senior Vice President for Legal and Administrative
Services before assuming his current  position,  will continue to be responsible
for the energy  distribution area, and now will have fossil generation,  nuclear
generation,  energy delivery, and several corporate staff functions reporting to
him.  Richardson  began  his  career  at  Florida  Power  in 1976  in the  legal
department before transferring to Florida Progress in 1982. He served in several
staff and  operating  roles at  Florida  Progress  and its  subsidiaries  before
rejoining Florida Power in 1993.

         Florida Power is the largest  subsidiary of Florida  Progress  Corp., a
Fortune 500 utility holding  company with assets of $5.8 billion.  Florida Power
serves a 20,000-square-mile  service area in west central, central, and northern
Florida.    Progress'   diversified   operations   include   coal   mining   and
transportation, life insurance, real estate, and lending and leasing.

96S/03S