COLUMBUS, Ohio, March 30, 2004 - Public Service Company of Oklahoma, a wholly owned operating subsidiary of American Electric Power (NYSE: AEP), today announced that on May 5, 2004, its trust subsidiary, PSO Capital I, will redeem all of its outstanding 8% Trust Originated Preferred Securities, Series A (CUSIP No. 693639205), at the redemption price of $25 per preferred security, plus accrued and unpaid distributions of $0.19444 per preferred security.

Distributions will cease to accrue on the securities as of the redemption date. The outstanding principal amount is $75,000,000.

The notice of redemption is expected to be mailed on or before April 2, 2004, to holders of record.

The Bank of New York is the redemption agent and trustee.