AEP subsidiary to redeem Senior Notes

COLUMBUS, Ohio, May 27, 2003 - Appalachian Power Co. will redeem all the outstanding principal amount of its 7.20% Senior Notes, Series A, due 2038, and its 7.30% Senior Notes, Series B, due 2038, on June 30, 2003, at 100% of the principal amount outstanding. Interest payable on June 30, 2003, will be paid in the usual manner.

Notice of the redemption is expected to be mailed on or before May 30, 2003.

This redemption is in accordance with the terms of the indenture under which the notes were issued.

The Bank of New York is the redemption agent and trustee for Appalachian Power Co.’s notes.

Media:David Hagelin
Corporate Media Relations

Analysts: Bette Jo Rozsa
Managing Director, Investor Relations