EXHIBIT 99

Florida Progress Corporation
Investor News
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Analyst Contacts:
Mark A. Myers (813) 866-4245
Greg Beuris (813) 866-4442


Crystal River Nuclear Plant Returns to Service

St. Petersburg, Florida, February 9, 1998 -- Florida Power Corporation's Crystal
River  nuclear plant was returned to service over the weekend after being out of
service  for  about  16  months.  The  plant  is  currently  operating  at about
70-percent  of its  productive  capacity  and is expected  to reach  100-percent
capacity sometime this week.

"Safe Harbor"  Statement  under the Private  Securities  Litigation Reform Act
of 1995:  this news  release  contains a forward  looking  statement  regarding
the power ascension  phase of the restart of the nuclear plant.  This  statement
involves risks and  uncertainties  that could cause actual  results or outcomes
to differ materially  from  expectations.  Key factors that could have a direct
impact on actual  results  include  various  factors  that  could  impact  the
successful escalation  of power of the  nuclear  plant,  such as the  timing and
nature of actions by the NRC, potential new plant  modifications not foreseen at
this time which could impact the operation of the plant and other factors
described in the company's Securities and Exchange Commission filings.

Florida Progress (NYSE:FPC) is a Fortune 500 diversified utility holding company
with assets of $5.8 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 and rail services.


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