ATLANTA – Southern Company plans to continue its current share repurchase program, Chairman and Chief Executive Officer Bill Dahlberg announced today.

Southern Company’s board of directors approved in April the repurchase of up to 50 million shares of the company’s common stock over a two-year period. To date, the company has repurchased 30.8 million shares under the program for $813 million.

“Continuing to move forward with the repurchase program reflects our confidence in the strategies we have put in place and our strong belief that Southern Company stock is undervalued by a significant amount in the current trading range,” Dahlberg said.

The repurchase program authorizes on a discretionary basis open market and privately negotiated transactions. It does not establish a target price or timetable for specific repurchases.

Southern Company (NYSE: SO) is an international energy company that operates more than 48,000 megawatts of electric generating capacity worldwide. It is the largest producer of electricity in the United States and one of the world’s largest independent power producers. Southern Company subsidiaries and their affiliates serve 12 million retail customers worldwide and millions more through the wholesale market. Based in Atlanta, Southern Company is the parent firm of Alabama Power, Georgia Power, Gulf Power, Mississippi Power and Savannah Electric.

Through its Southern Energy Inc. subsidiary, Southern Company has operations in 12 countries on five continents and has a growing presence in North America with assets in the Northeast, the Midwest, California and Texas. Southern Company also provides energy-related marketing, trading and technical services in the United States and Europe and offers Southern LINC wireless telecommunications.