Company closes sale on Trust Preferred Securities

Savannah Electric and Power Company today closed the sale of $40,000,000 aggregate liquidation amount of 6.85% Trust Preferred Securities of Savannah Electric Capital Trust I, according to Kirby R. Willis, Vice President, Treasurer and Chief Financial Officer. Savannah Electric will use the proceeds from the sale to repay its outstanding short-term debt and for other general corporate purposes.

Savannah Electric serves 125,000 customers in a five-county area of Southeast Georgia, including the city of Savannah. Savannah Electric is a subsidiary of Southern Company (NYSE: SO).