At a meeting held on April 27, 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 June 30, 2001, payable July 1, 2001, to stockholders of record June 15, 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 April 3, 2001, which is payable on May 22, 2001, to stockholders of record on May 21, 2001; and for the dividend period beginning May 22, 2001, that is payable on July 10, 2001, to stockholders of record on July 9, 2001.

               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 March 21, 2001, which is payable on May 9, 2001, to stockholders of record on May 8, 2001; and for the dividend period beginning May 9, 2001, that is payable on June 27, 2001, to stockholders of record on June 26, 2001.

Alabama Power provides affordable, reliable electric service to 1.3 million customers in the lower two-thirds of Alabama. Alabama Power owns and operates a total of 22 electric generating plants. Alabama Power is a subsidiary of Atlanta-based Southern Company , which operates more than 32,000 megawatts of electric generating capacity in the Southeast. Southern Company is one of the largest producers of electricity in the United States.

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SOURCE: Alabama Power