AEP subsidiary to redeem First Mortgage Bonds

COLUMBUS, Ohio, May 22, 2003 - AEP Texas Central Co. (formerly Central Power and Light Co.) will redeem all the outstanding principal amount of its First Mortgage Bonds, Series II, 7-1/2%, due April 1, 2023, on June 25, 2003, at 103.32% of the principal amount outstanding plus accrued interest to the date of redemption.

Notice of the redemption is expected to be mailed on or before May 25, 2003.

This redemption is in accordance with the terms of the indenture under which the First Mortgage Bonds were issued.

The Bank of New York is the redemption agent and trustee for AEP Texas Central Co.’s bonds.

David Hagelin
Corporate Media Relations

Bette Jo Rozsa
Managing Director, Investor Relations