AEP subsidiary Indiana Michigan Power to redeem bonds

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 103.60% of the principal amount of the bonds of the 7.20% Series and 103.75% of the principal amount of the bonds of the 7.50% Series, plus accrued interest for each series to the date of redemption.

The notice of redemption is expected to be mailed on or before March 1, 2004, to holders of record.

These are the last series of bonds under this mortgage. The mortgage will be discharged after the first mortgage bonds are redeemed.

The Bank of New York is the redemption agent and trustee.