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Aug. 28, 2003News Release
COLUMBUS, Ohio, Aug. 28, 2003 - Ohio Power Co., a wholly owned operating subsidiary of American Electric Power (NYSE: AEP), today announced that on Oct. 1, 2003, it will redeem the entire outstanding $5,000,000 principal amount of its First Mortgage Bonds, Designated Secured Medium-Term Notes, 7.75% Series due April 1, 2023, and the entire outstanding $20,250,000 principal amount of its First Mortgage Bonds, Designated Secured Medium-Term Notes, 7.375% Series due Oct. 1, 2023.

The bonds will be redeemed in accordance with the terms of the mortgage under which the bonds were issued, at the regular redemption price of 103.88% of the principal amount of the bonds of the 7.75% Series and 103.69% of the principal amount of the bonds of the 7.375% Series, plus accrued interest for each series to the date of redemption.

The notice of redemption is expected to be mailed on or before Aug. 29, 2003, to holders of record.

JPMorgan Chase Bank, New York, is the redemption agent and trustee.

Analysts: Bette Jo Rozsa
Managing Director, Investor Relations
614/716-2840


Media: David Hagelin
Corporate Media Relations
614/716-1938

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