COLUMBUS, Ohio, May 2, 2005 – American Electric Power (NYSE: AEP) and its remarketing agents, Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc., are giving notice that the remarketing of AEP’s 5.75% Senior Notes (CUSIP No. 025537AC5) due Aug. 16, 2007, will be rescheduled to a subsequent remarketing period referenced in the forward-purchase contract agreement. These notes are related to AEP equity units (CUSIP No. 025537200) offered in June 2002.

The notes will not be remarketed as originally scheduled during the initial remarketing period, May 11, 2005, through May 13, 2005, as indicated in a forward-purchase contract agreement dated June 11, 2002. The remarketing is being postponed pending completion of a periodic review of AEP’s annual report on Form 10-K by the Securities and Exchange Commission (SEC). Under Sarbanes-Oxley, the SEC is required to review public companies at least every three years. The last time AEP was reviewed by the SEC was in 2002.

AEP issued $345 million aggregate principal amount of the Senior Notes when it issued 6.9 million equity units at a public offering price of $50 in June 2002. Each equity unit consists of an unsecured note and a forward-purchase contract to purchase AEP common stock on the settlement date Aug. 16, 2005.

American Electric Power owns more than 36,000 megawatts of generating capacity in the United States and is the nation´s largest electricity generator. AEP is also one of the largest electric utilities in the United States, with more than 5 million customers linked to AEP’s 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio.

This report made by AEP and certain of its subsidiaries contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although AEP and each of its registrant subsidiaries believe that their 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 credit-worthiness 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; 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); oversight and/or investigation of the energy sector or its participants; 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 AEP´s service territory and changes in market demand and demographic patterns; inflationary trends; AEP´s 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 and other risks and unforeseen events, including wars, the effects of terrorism (including increased security costs), embargoes and other catastrophic events.