Alabama Power Dividends Declared
PRNewswire
BIRMINGHAM, Ala.

At a meeting held on January 26, 2001, 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, 2001, payable April 1, 2001, to stockholders of record March 16, 2001.

               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, for the dividend period beginning December 26, 2000, which is payable on February 13, 2001, to stockholders of record on February 12, 2001; and for the dividend period beginning February 13, 2001, that is payable on April 3, 2001, to stockholders of record on April 2, 2001.

               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 (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, for the dividend period beginning December 13, 2000, which is payable on January 31, 2001, to stockholders of record on January 30, 2001; and for the dividend period beginning January 31, 2001, that is payable on March 21, 2001, to stockholders of record on March 20, 2001.

Alabama Power, a subsidiary of Southern Company , is an investor-owned electric utility serving 1.3 million customers in the southern two-thirds of Alabama.

SOURCE: Alabama Power

Contact: Darya Braggs of Alabama Power, 205-257-4155, or
djbraggs@southernco.com