Southern Company announces redemption of Cumulative Quarterly Income Preferred Securities

ATLANTA -- Southern Company today announced the planned redemption on Dec. 23, 2003, of all $150 million aggregate liquidation amount of the Southern Company Capital Trust V 6.875 percent Cumulative Quarterly Income Preferred Securities due Dec. 31, 2028.

The redemption price for the full redemption of the Southern Company Capital Trust V 6.875 percent Preferred Securities will be $25 per Cumulative Quarterly Income Preferred Security plus accrued and unpaid distributions thereon to the redemption date.

Deutsche Bank Trust Company Americas, as Property Trustee, will notify each registered holder by First-Class Mail on or about Nov. 21, 2003. Deutsche Bank Trust Company Americas is located at 60 Wall Street, New York, N.Y., 10005. The books will be closed on the redemption date.

With 4 million customers and nearly 39,000 megawatts of generating capacity, Atlanta-based Southern Company (NYSE: SO) is the premier super-regional energy company in the Southeast and a leading U.S. producer of electricity. Southern Company owns electric utilities in four states, a growing competitive generation company, an energy services business and a competitive retail natural gas business, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices that are 15 percent below the national average. Southern Company has been named two consecutive years No. 1 on Fortune magazine’s “America’s Most Admired Companies” list in the Electric and Gas Utility industry. Southern Company has been ranked the nation’s top energy utility in the American Customer Satisfaction Index four years in a row, and in the latest survey tied for the highest score among all service industry companies. Southern Company has more than 500,000 shareholders, making its common stock one of the most widely held in the United States. Visit the Southern Company Web site at

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