ATLANTA – Georgia Power announced today the planned redemption on July 19, 2002 of all $225 million aggregate liquidation amount of the Georgia Power Capital Trust I 7.75% Trust Preferred Securities due June 30, 2036 and all $189.25 million aggregate liquidation amount of the Georgia Power Capital Trust III 7.75% Cumulative Quarterly Income Preferred Securities due March 31, 2037.

The redemption price for the full redemption of the Georgia Power Capital Trust I 7.75% Trust Preferred Securities and the Georgia Power Capital Trust III 7.75% Cumulative Quarterly Income Preferred Securities will be $25 per Preferred Security plus accrued and unpaid distributions thereon to the redemption date.

JPMorgan Chase Bank, as Property Trustee, will notify each registered holder by first class mail on June 18, 2002. The books will be closed on the redemption date.