FirstEnergy Corp.               For Release:  November 17, 1998
76 South Main Street
Akron, Ohio 44308-1890


News Media Contact:
David C. Poeppelmeier
(330) 384-5813


      FIRSTENERGY ANNOUNCES COMMON STOCK REPURCHASE PROGRAM

     FirstEnergy Corp.'s Board of Directors today authorized the 
repurchase up to 15 million shares of the Company's outstanding 
common stock over a three-year period beginning in 1999.

     "We believe our common stock represents a good value," said 
FirstEnergy Vice President and Chief Financial Officer Richard H. 
Marsh.  "The stock repurchase program should result in share-
price appreciation that will benefit the Company and our 
shareholders."

     FirstEnergy said the anticipated $450-million repurchase 
program will reacquire approximately six percent of its 
approximate 237 million shares of outstanding common stock.  The 
repurchase of common stock, which will be dependent on market 
conditions and the company's financial flexibility, will be 
accomplished primarily through the use of operating cash flow. 

     FirstEnergy is a diversified energy services holding company 
headquartered in Akron, Ohio.  Its four electric utility 
operating companies -  Ohio Edison and its subsidiary, 
Pennsylvania Power, The Illuminating Company and Toledo Edison -  
comprise the nation's 12th largest investor-owned electric system 
serving 2.2 million customers within 13,200 square miles of 
northern and central Ohio and western Pennsylvania.


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