The Board of Directors of Savannah Electric and Power Company today declared a quarterly dividend of $0.415 per share on the Company`s 6.64% Preferred Stock.

Dividends are payable Wednesday, April 15, 1998 to shareholders of record Tuesday, March 31, 1998.

In other news, the Board elected Nancy E. Frankenhauser to the position of corporate secretary. She was previously comptroller and assistant corporate secretary. Frankenhauser will retain the position of comptroller in addition to her new responsibilities. She joined the Company in 1986 and has held positions of increasing responsibility within the Accounting organization.