Southern Company announced today a new investment plan that allows for direct purchase of the company’s common stock.

The new plan — called the Southern Investment Plan — will replace the company’s existing dividend reinvestment plan.

“This plan helps meet the needs of our investors and potential investors,” said A.W. Dahlberg, Southern Company chairman, president and chief executive officer. “Many investors want to purchase our stock more easily and frequently. Southern Investment Plan gives them what they want.”

The Southern Investment Plan takes effect Jan. 1, 1997. It allows investors to purchase shares of Southern Company common stock directly with a minimum initial investment of $250, which includes a one-time enrollment fee of $10.

The plan also allows for purchases of common stock twice a month, rather than the once a quarter allowed under the current dividend reinvestment plan.

Investors also benefit by:

· Being able to make monthly optional cash investments automatically via electronic withdrawals from their bank accounts.

· Having Southern Company pay all brokerage fees and costs to purchase common stock.

· Purchasing additional shares of Southern Company common stock by reinvesting all or a portion of their dividends.

· Receiving dividends by check or through electronic deposits to bank accounts.

· Selling shares of common stock held in the plan through the plan, subject to certain restrictions and limitations.

A prospectus and plan enrollment forms will be available Jan. 1. To obtain those materials, interested investors may call (800) 554-7626 after Jan. 1 or write: Stockholder Services, P.O. Box 88300, Atlanta, Ga. 30356-8300.

Southern Company shareholders who participate in the current dividend reinvestment plan will be automatically enrolled in the Southern Investment Plan.

Atlanta-based Southern Company (NYSE: SO), the nation’s largest producer of electricity, is the parent firm of five electric utilities — Alabama Power, Georgia Power, Gulf Power, Mississippi Power and Savannah Electric. It also owns Southern Energy Inc., which develops, builds, owns and operates power production and delivery facilities and provides a broad range of technical services to utilities and industrial companies in the U.S. and international markets.

Southern Company’s common stock is one of the 20 most widely held corporate stocks in America.