Company description
  *  Birmingham based investor-owned electric utility; a subsidiary of
     Southern Company .

  Performance
  *  Earnings up for the first quarter and 12-month period ended March 2001.

  Net Income
  *  First Quarter Net Income
     $ 69,952,000 for the first quarter of 2001
     $ 67,512,000 for the first quarter of 2000

  *  12 Months Ended Net Income
     $ 422,356,000 for the 12-month period that ended March 2001
     $ 404,317,000 for the 12-month period that ended March 2000

  Total Territorial Energy Sales
  *  First Quarter Energy Sales
     12.4 billion kilowatt-hours for the first quarter of 2001
     12.7 billion kilowatt-hours for the first quarter of 2000

  *  12 Months Ended Energy Sales
     55.7 billion kilowatt-hours for the 12-month period that ended March
       2001
     54.3 billion kilowatt-hours for the 12-month period that ended March
       2000

  Comments

"Territorial energy sales decreased due to lower industrial sales as a result of a slower economy during the quarter ended March 2001. However, residential and commercial sales increased due to colder weather resulting in the increase in net income when compared to the same period of 2000. Net income increased in the twelve month period ended March 2001 due to an increase in territorial sales partially offset by increased non-fuel operating expenses."

-- William B. Hutchins, III, executive vice president and chief financial officer.

SOURCE: Alabama Power