Alabama Power Company announced today the full redemption of its outstanding 9 percent series first mortgage bonds due 2024 according to William B. Hutchins, III, Executive Vice President, Chief Financial Officer and Treasurer.

The redemption date for the 9 percent series first mortgage bonds will be August 31, 2001. These bonds will be redeemed at a price of 105.9 percent of principal amount, plus accrued interest to the date of redemption.

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