At a meeting held on Oct. 25, 2002, the Board of Directors of Alabama Power Company declared the regular quarterly dividends on the company's outstanding preferred stock as follows:

                             Preferred Stock
                             ($100 Par Value)
                         4.20% - $1.05 per share
                         4.52% - $1.13 per share
                         4.60% - $1.15 per share
                         4.64% - $1.16 per share
                         4.72% - $1.18 per share
                         4.92% - $1.23 per share

                         Class A Preferred Stock
                           ($25 Capital Value)
                         5.20% - $.325 per share
                         5.83% - $.3644 per share

These dividends are for the quarter ending Dec. 31, 2002, payable Jan. 1, 2003, to stockholders of record on Dec. 17, 2002.

               Auction Class A Preferred Stock, 1988 Series
                           ($100 Capital Value)

In addition, the Board of Directors declared dividends for the Auction Class A preferred stock (1988 Series) at an annual rate to be determined in accordance with the Auction procedures as set forth in the amendment to the Charter dated Nov. 18, 1988, as further amended on Nov. 21, 2001, for the dividend period beginning Sept. 24, 2002, which is payable on Nov. 13, 2002, to stockholders of record on Nov. 12, 2002.

               Auction Class A Preferred Stock, 1993 Series
                           ($100 Capital Value)

In addition, the Board of Directors declared dividends for the Auction Class A preferred stock (1993 Series) at an annual rate to be determined in accordance with the Auction procedures as set forth in the amendment to the Charter dated Oct. 27, 1993, as further amended on Nov. 21, 2001, for the dividend period beginning Sept. 18, 2002, which is payable on Nov. 6, 2002, to stockholders of record on Nov. 5, 2002.

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