Alabama Power Company to Partially Redeem 9 Percent First Mortgage Bonds

Apr 30, 2001, 01:00 ET from Alabama Power Company

    BIRMINGHAM, Ala., April 30 /PRNewswire/ -- Alabama Power Company announced
 today the partial redemption of its outstanding 9 percent series first
 mortgage bonds due 2024 according to William B. Hutchins, III, Executive Vice
 President, Chief Financial Officer and Treasurer.
     The redemption of $7,484,000 principal amount of the outstanding 9 percent
 series first mortgage bonds will occur on June 1, 2001, at a redemption price
 equal to the principal amount plus accrued interest.  Of this amount,
 $4,890,000 will be redeemed under the improvement fund requirements and an
 additional $2,594,000 will be redeemed with proceeds of released property on
 deposit with the Trustee, pursuant to provisions of Alabama Power Company's
 Indenture dated January 1, 1942, as amended and supplemented.
     The Chase Manhattan Bank, as trustee, will select on a random basis the
 bonds to be redeemed and will send a notice to the registered holders of all
 bonds being redeemed between 30 to 45 days before the date fixed for
 redemption.
     Alabama Power provides affordable, reliable electric service to 1.3
 million customers in the lower two-thirds of Alabama.  Alabama Power owns and
 operates a total of 22 electric generating plants.  Alabama Power is a
 subsidiary of Atlanta-based Southern Company (NYSE:   SO), which operates more
 than 32,000 megawatts of electric generating capacity in the Southeast.
 Southern Company is one of the largest producers of electricity in the United
 States.
 
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SOURCE Alabama Power Company
    BIRMINGHAM, Ala., April 30 /PRNewswire/ -- Alabama Power Company announced
 today the partial redemption of its outstanding 9 percent series first
 mortgage bonds due 2024 according to William B. Hutchins, III, Executive Vice
 President, Chief Financial Officer and Treasurer.
     The redemption of $7,484,000 principal amount of the outstanding 9 percent
 series first mortgage bonds will occur on June 1, 2001, at a redemption price
 equal to the principal amount plus accrued interest.  Of this amount,
 $4,890,000 will be redeemed under the improvement fund requirements and an
 additional $2,594,000 will be redeemed with proceeds of released property on
 deposit with the Trustee, pursuant to provisions of Alabama Power Company's
 Indenture dated January 1, 1942, as amended and supplemented.
     The Chase Manhattan Bank, as trustee, will select on a random basis the
 bonds to be redeemed and will send a notice to the registered holders of all
 bonds being redeemed between 30 to 45 days before the date fixed for
 redemption.
     Alabama Power provides affordable, reliable electric service to 1.3
 million customers in the lower two-thirds of Alabama.  Alabama Power owns and
 operates a total of 22 electric generating plants.  Alabama Power is a
 subsidiary of Atlanta-based Southern Company (NYSE:   SO), which operates more
 than 32,000 megawatts of electric generating capacity in the Southeast.
 Southern Company is one of the largest producers of electricity in the United
 States.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X89171763
 
 SOURCE  Alabama Power Company