COLUMBUS, Ohio, Feb. 27, 2003 - Columbus Southern Power Co. (CSP) today announced that it will redeem the entire $44,000,000 principal amount of four of its outstanding series First Mortgage Bonds due in 2022. The bonds to be redeemed are:

• 8.70% Series of First Mortgage Bonds due July 1, 2022, at their regular redemption price of 104.35% of the principal amount thereof plus accrued interest

• 8.40% Series of First Mortgage Bonds due Aug. 15, 2022, at their regular redemption price of 104.20% plus accrued interest

• 8.55% Series of First Mortgage Bonds due Aug. 1, 2022, at their regular redemption price of 104.28% plus accrued interest

• 8.40% Series of First Mortgage Bonds due Oct. 15, 2022, at their regular redemption price of 104.20% plus accrued interest

Accrued interest on each series will be paid from Oct. 1, 2002, to the date of redemption.

The redemptions are being made under terms of the bonds, which permit CSP to redeem them prior to maturity. Notice of redemption is expected to be mailed to bondholders of record on or before Feb. 28, 2003.

Citibank, N.A., New York, is the redemption agent and trustee.

CSP is an operating electric utility subsidiary of American Electric Power (NYSE: AEP).