COLUMBUS, Ohio, April 25, 2003 - American Electric Power (NYSE: AEP) has completed its exit from Nordic energy trading markets.

“AEP made the strategic decision in October to refocus its wholesale activities on markets where the company owns energy assets,” said Stuart Staley, managing director of AEP Energy Services Ltd., AEP’s London-based wholesale energy subsidiary. “The Nordic team is a market leader and a strong performer, but we do not have assets in that market so it no longer fit our strategy.”

Under terms of an agreement, the management team responsible for AEP’s activities in NordPool will assume AEP’s Nordic trading book (the portfolio of forward positions held in the Nordic energy market) and assume office leases and other related responsibilities. AEP recognized a $16.6 million loss in the fourth quarter of 2002 associated with its decision to exit the Nordic trading business. The impact on AEP’s 2003 earnings related to exiting the Nordic business will not be significant.

AEP entered the Nordic energy markets in January 2002 when it hired 35 former employees from Enron Nordic Energy and assumed operation of existing offices in Oslo, Norway, and Stockholm, Sweden.

American Electric Power owns and operates more than 42,000 megawatts of generating capacity in the United States and select international markets and is the largest electricity generator in the U.S. AEP is also one of the largest electric utilities in the United States, with almost 5 million customers linked to AEP’s 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio.

The comments set forth above include forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, including (1) statements concerning the Company´s plans, objectives, expected performance and expenditures and (2) other statements that are other than statements of historical fact. These forward-looking statements reflect assumptions, and involve a number of risks and uncertainties. Among the factors that could cause actual results to differ materially from forward-looking statements are electric load and customer growth, abnormal weather conditions, availability of generating capacity, the ability to recover net regulatory assets and other stranded costs in connection with deregulation of generation, the outcome of environmental regulation and litigation, the impact of fluctuation in commodity prices and interest rates, and other risks and unforeseen events over which the Company has no control. The reader is also directed to the Company´s periodic filings with the Securities and Exchange Commission for additional factors that may impact the Company´s results of operations and financial condition. Furthermore, historical results may not be indicative of the Company´s future performance.