Alabama Power Company has requested that the Industrial Development Board of the Town of Wilsonville (the "Board") issue $21,450,000 of its pollution control revenue refunding bonds to redeem the Board's Pollution Control Revenue Refunding Bonds, Series C (Alabama Power Company Gaston Plant Project) (the "Series C Bonds") issued to refinance the costs of certain pollution control facilities at Alabama Power Company's Ernest C. Gaston Steam Plant Unit No. 5. The redemption of the Series C Bonds is contingent upon the authorization by the Board of the issuance of the new bonds and the successful closing of the sale of the new bonds. If redeemed as planned, the redemption price will be 100% of the principal amount thereof plus accrued interest to the date of redemption.

Alabama Power, a Southern Company subsidiary, is an investor-owned electric utility serving more than 1.4 million customers in the southern two- thirds of Alabama.

SOURCE: Alabama Power Company