9/4/2002

STALEY NAMED TO LEAD AEP’S INTERNATIONAL ENERGY MARKETING, TRADING, GENERATION

COLUMBUS, Ohio, Sept. 4, 2002 - American Electric Power (NYSE: AEP) has announced a change in the leadership of its London-based international wholesale energy marketing, trading and generation operations.

H.D. (Hank) Jones, managing director of AEP Energy Services Ltd., has resigned to pursue other opportunities. Jones had led AEP’s international energy business since its inception in 1999.

Stuart Staley, who was responsible for AEP’s London-based international coal and freight trading group, will assume Jones’ duties as head of international wholesale energy marketing, trading and generation.

“Hank’s role in building our international presence was important and we wish him well in the future,” said Eric van der Walde, executive vice president, AEP Energy Services Inc., the parent company for the international operations.

“Stuart Staley has a strong background in energy markets,” van der Walde said. “His leadership of the coal and freight trading group has been impressive. We are operating in international markets that have undergone significant changes in recent months, but we are committed to the markets - and to our strategy - so it is important that we make changes necessary to continue our success.

“Stu will keep our international operations moving forward.”

Staley joined AEP in December, when the company acquired existing contracts and hired key staff from the Enron international coal team. Prior to heading the international coal team, Staley had extensive experience in energy trading with Enron in both U.S. and international markets. Staley earned his masters of business administration from Yale University in New Haven, Conn., following the completion of his undergraduate degree from Williams College in Williamstown, Mass.

American Electric Power is a multinational energy company with a balanced portfolio of energy assets. AEP, the United States’ largest electricity generator, owns and operates more than 42,000 megawatts of generating capacity in the U.S. and select international markets. AEP is a leading wholesale energy marketer, ranking among North America’s top providers of wholesale power and natural gas with a growing wholesale presence in European markets. In addition to electricity generation, AEP owns and operates natural gas pipeline systems, natural gas storage, coal mines, and the fourth-largest inland barge company 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 wires. The company is based in Columbus, Ohio.

Pat D. Hemlepp
Director, Corporate Media Relations
American Electric Power
614/223-1620