Indiana Michigan Power to Redeem Bonds

April 27, 1999•News Release

FORT WAYNE, Ind., April 27, 1999 -- Indiana Michigan Power Co., a wholly owned subsidiary of American Electric Power Co., (NYSE: AEP), today announced that it will redeem the entire outstanding principal amount of three series of its First Mortgage Bonds: $20,000,000 principal amount of its 6.80% Series due 2003, $20,000,000 of its 6.55% Series due 2003 and $25,000,000 of its 6.55% Series due 2004 on May 28, 1999, all at the special redemption price of 100 percent of the principal amount thereof plus interest accrued to May 28, 1999. This redemption is in accordance with the terms of the mortgage under which the bonds were issued, which permit the company to redeem the bonds with certain funds deposited with the trustee under the mortgage. The notice of redemption is expected to be mailed on April 28, 1999. The Bank of New York is the redemption agent and trustee. American Electric Power, a global energy company, is one of the United States' largest investor-owned utilities, providing energy to 3 million customers in Indiana, Kentucky, Michigan, Ohio, Tennessee, Virginia and West Virginia. AEP has holdings in the United States, the United Kingdom, China and Australia. Wholly owned subsidiaries provide power engineering, energy consulting and energy management services around the world. The company is based in Columbus, Ohio. On Dec. 22, 1997, AEP announced a definitive merger agreement for a tax-free, stock-for-stock transaction with Central and South West Corp., a public utility holding company based in Dallas.

For More Information, Contact: John S. Bilacic Manager Investor Relations 614/223-2847 or Geoff Chatas Managing Director, Corporate Finance 614/223-2873

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