At a meeting held on January 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 March 31, 2002, payable April 1, 2002, to stockholders of record March 15, 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 November 18, 1988, as further amended November 21, 2001, for the dividend period beginning January 22, 2002, which is payable on March 12, 2002, to stockholders of record on March 11, 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 October 27, 1993, as further amended November 21, 2001, for the dividend period beginning January 15, 2002, which is payable on March 6, 2002, to stockholders of record on March 5, 2002; and for the dividend period beginning March 6, 2002, that is payable on April 24, 2002, to stockholders of record on April 23, 2002.

Alabama Power, a subsidiary of Atlanta-based Southern Company , provides reliable, affordable electricity to more than 1.3 million customers across the state.

MAKE YOUR OPINION COUNT - Click Here
http://tbutton.prnewswire.com/prn/11690X80013757

SOURCE: Alabama Power Company