EXHIBIT 99.(a)

Florida Progress Corporation
News Release 
Corporate Relations Department, St. Petersburg, Florida


                                                 Media Contact:
                                                 Karen Raihill -- (813) 866-5023


Florida Progress Approves Spin-off of
Echelon International to Shareholders

ST. PETERSBURG, Fla. (November 21, 1996) -- Florida Progress Corporation (NYSE:
FPC), approved today the previously announced spin-off of Echelon International
Corporation (NYSE: EIN), its lending, leasing and real estate company, to
shareholders. Each Florida Progress shareholder of record as of December 5, 1996
will receive one share of Echelon International for every 15 shares of Florida
Progress stock and a check for any remaining fractional share amount. Echelon
International stock certificates will be mailed to shareholders on or about
December 18.

In July, Florida Progress announced its decision to spin-off Echelon
International to its shareholders through a tax-free stock dividend. The
spin-off allows Florida Progress to focus its attention on its core utility and
coal and transportation businesses while launching Echelon International as a
well capitalized business with a management team dedicated to seeking growth
opportunities to maximize the value of its assets for shareholders.

An Information Statement describing the spin-off and the business and financial
condition of Echelon International will be mailed to all Florida Progress
shareholders in the next couple of weeks.

Florida Progress is a Fortune 500 diversified utility holding company with
assets of $5.6 billion. Its principal subsidiary is Florida Power, the state's
second-largest electric utility with about 1.3 million customers. Diversified
operations include coal mining, marine operations, rail service and life
insurance.

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