COLUMBUS, Ohio, Oct. 25, 2011 – The following subsidiaries of American Electric Power (NYSE: AEP) announced today that they will redeem all of the outstanding shares of preferred stock of their respective companies on Dec. 1, 2011. 

• AEP Texas Central Company, 41,708 shares outstanding of its Cumulative Preferred Stock,  4.00% Series (CUSIP 0010EP207) at $105.75 per share, plus an amount equal to accrued dividends from Nov. 1, 2011.
• AEP Texas Central Company, 11,750 shares outstanding of its Cumulative Preferred Stock,  4.20% Series (CUSIP 0010EP306) at $103.75 per share, plus an amount equal to accrued dividends from Nov. 1, 2011.
• AEP Texas North Company, 23,481 shares outstanding of its Cumulative Preferred Stock, 4.40% Series (CUSIP 0010EQ205) at $107.00 per share, plus an amount equal to accrued dividends from Oct. 1, 2011.
• Appalachian Power Company, 177,363 shares outstanding of its Cumulative Preferred Stock, 4-1/2% Series (CUSIP 037735107) at $110.00 per share, plus an amount equal to accrued dividends from Nov. 1, 2011.
• Indiana Michigan Power Company, 11,055 shares outstanding of its Cumulative Preferred Stock, 4.12% Series (CUSIP 454889205) at $102.728 per share, plus an amount equal to accrued dividends from Oct. 1, 2011.
• Indiana Michigan Power Company, 55,253 shares outstanding of its Cumulative Preferred Stock, 4-1/8% Series (CUSIP 454889304) at $106.125 per share, plus an amount equal to accrued dividends from Oct. 1, 2011.
• Indiana Michigan Power Company, 14,412 shares outstanding of its Cumulative Preferred Stock, 4.56% Series (CUSIP 454889825) at $102.00 per share, plus an amount equal to accrued dividends from Oct. 1, 2011.
• Ohio Power Company, 14,495 shares outstanding of its Cumulative Preferred Stock, 4.08% Series (CUSIP 677415101) at $103.00 per share. Dividends will be paid on Dec. 1, 2011 in the usual manner.
• Ohio Power Company, 22,824 shares outstanding of its Cumulative Preferred Stock, 4.20% Series (CUSIP 677415200) at $103.20 per share. Dividends will be paid on Dec. 1, 2011 in the usual manner.
• Ohio Power Company, 31,482 shares outstanding of its Cumulative Preferred Stock, 4.40% Series (CUSIP 677415309) at $104.00 per share. Dividends will be paid on Dec. 1, 2011 in the usual manner.
• Ohio Power Company, 97,332 shares outstanding of its Cumulative Preferred Stock, 4-1/2% Series (CUSIP 677415408) at $110.00 per share. Dividends will be paid on Dec. 1, 2011 in the usual manner.
• Public Service Company of Oklahoma, 44,508 shares outstanding of its Cumulative Preferred Stock, 4.00% Series (CUSIP 744533209) at $105.75 per share, plus an amount equal to accrued dividends from Oct. 1, 2011.
• Public Service Company of Oklahoma, 4,310 shares outstanding of its Cumulative Preferred Stock, 4.24% Series (CUSIP 744533308) at $103.19 per share, plus an amount equal to accrued dividends from Oct. 1, 2011.
• Southwestern Electric Power Company, 7,386 shares outstanding of its Cumulative Preferred Stock, 4.28% Series (CUSIP 845437102) at $103.904 per share, plus an amount equal to accrued dividends from Oct. 1, 2011.
• Southwestern Electric Power Company, 1,902 shares outstanding of its Cumulative Preferred Stock, 4.65% Series (CUSIP 845437201) at $102.75 per share, plus an amount equal to accrued dividends from Oct. 1, 2011.
• Southwestern Electric Power Company, 37,650 shares outstanding of its Cumulative Preferred Stock, 5.00% Series (CUSIP 845437300) at $109.00 per share, plus an amount equal to accrued dividends from Oct. 1, 2011.

The total purchase price to complete the 16 redemptions is approximately $64 million, including accrued but unpaid dividends. The preferred stock redemptions are being made under terms of the series of stock which permit them to be redeemed at any time.

The notice of redemption and related materials is expected to be mailed to holders of record of the shares to be redeemed on or before Nov. 1, 2011. Computershare is the redemption agent for these series of preferred stock.

American Electric Power is one of the largest electric utilities in the United States, delivering electricity to more than 5 million customers in 11 states. AEP ranks among the nation’s largest generators of electricity, owning nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a nearly 39,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP’s transmission system directly or indirectly serves about 10 percent of the electricity demand in the Eastern Interconnection, the interconnected transmission system that covers 38 eastern and central U.S. states and eastern Canada, and approximately 11 percent of the electricity demand in ERCOT, the transmission system that covers much of Texas. AEP’s utility units operate as AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana and east Texas). AEP’s headquarters are in Columbus, Ohio.

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This report made by American Electric Power contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although AEP believes that its expectations are based on reasonable assumptions, any such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are: Electric load and customer growth; weather conditions, including storms; available sources and costs of, and transportation for, fuels and the creditworthiness of fuel suppliers and transporters; availability of generating capacity and the performance of AEP’s generating plants; the ability to recover regulatory assets and stranded costs in connection with deregulation; the ability to recover increases in fuel and other energy costs through regulated or competitive electric rates; the ability to build or acquire generating capacity when needed at acceptable prices and terms and to recover those costs through applicable rate cases; new legislation, litigation and government regulation including requirements for reduced emissions of sulfur, nitrogen, mercury, carbon and other substances; timing and resolution of pending and future rate cases, negotiations and other regulatory decisions (including rate or other recovery for new investments, transmission service and environmental compliance); resolution of litigation (including pending Clean Air Act enforcement actions and disputes arising from the bankruptcy of Enron Corp.); AEP’s ability to constrain its operation and maintenance costs; AEP’s ability to sell assets at acceptable prices and on other acceptable terms, including rights to share in earnings derived from the assets subsequent to their sale; the economic climate and growth in its service territory and changes in market demand and demographic patterns; inflationary trends; its ability to develop and execute a strategy based on a view regarding prices of electricity, natural gas and other energy-related commodities; changes in the creditworthiness and number of participants in the energy trading market; changes in the financial markets, particularly those affecting the availability of capital and AEP’s ability to refinance existing debt at attractive rates; actions of rating agencies, including changes in the ratings of debt; volatility and changes in markets for electricity, natural gas and other energy-related commodities; changes in utility regulation, including membership and integration into regional transmission structures; accounting pronouncements periodically issued by accounting standard-setting bodies; the performance of AEP’s pension and other postretirement benefit plans; prices for power that AEP generates and sells at wholesale; changes in technology, particularly with respect to new, developing or alternative sources of generation and other risks and unforeseen events, including wars, the effects of terrorism (including increased security costs), embargoes and other catastrophic events.