At a meeting held on October 26, 2001, the Board of Directors of Alabama Power Company declared the regular quarterly dividends on the company's outstanding preferred stock as follows:

                             Preferred Stock
                             ($100 Par Value)
                         4.20% - $1.05 per share
                         4.52% - $1.13 per share
                         4.60% - $1.15 per share
                         4.64% - $1.16 per share
                         4.72% - $1.18 per share
                         4.92% - $1.23 per share

                         Class A Preferred Stock
                           ($25 Capital Value)
                         5.20% - $.325 per share
                         5.83% - $.3644 per share

These dividends are for the quarter ending December 31, 2001, payable January 1, 2002, to stockholders of record December 17, 2001.

               Auction Class A Preferred Stock, 1988 Series
                           ($100 Capital Value)

In addition, the Board of Directors declared dividends for the Auction Class A Preferred Stock (1988 Series) at an annual rate to be determined in accordance with the auction procedures as set forth in the amendment to the Charter dated November 18, 1988, for the dividend period beginning October 16, 2001, which is payable on December 4, 2001, to stockholders of record on December 3, 2001; and for the dividend period beginning December 4, 2001, that is payable on January 22, 2002, to stockholders of record on January 21, 2002.

               Auction Class A Preferred Stock, 1993 Series
                           ($100 Capital Value)

In addition, the Board of Directors declared dividends for the Auction Class A Preferred Stock (1993 Series) at an annual rate to be determined in accordance with the auction procedures as set forth in the amendment to the Charter dated October 27, 1993, for the dividend period beginning October 3, 2001, which is payable on November 27, 2001, to stockholders of record on November 26, 2001; and for the dividend period beginning November 27, 2001, that is payable on January 15, 2002, to stockholders of record on January 14, 2002.

Alabama Power, a subsidiary of Atlanta-based Southern Company , provides reliable, affordable electricity to more than 1.3 million customers across the state.

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SOURCE: Alabama Power Company