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American Electric Power Declares Quarterly Dividend on Common Stock

July 30, 1999

COLUMBUS, Ohio, July 28, 1999 – The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 60 cents a share on the company’s common stock. The dividend is payable Sept. 10, 1999, to shareholders of record as of Aug. 10, 1999, and is the company’s 357th consecutive quarterly common stock cash dividend. AEP has paid a cash dividend on its common stock every quarter since July 1910. AEP, a global energy company, is one of the United States' largest investor-owned utilities, providing energy to 3 million customers in Indiana, Kentucky, Michigan, Ohio, Tennessee, Virginia and West Virginia. AEP has holdings in the United States, the United Kingdom, China and Australia. Wholly owned subsidiaries provide power engineering, energy consulting and energy management services around the world. The company is based in Columbus, Ohio. On Dec. 22, 1997, AEP announced a definitive merger agreement for a tax-free, stock-for-stock transaction with Central and South West Corp., a public utility holding company based in Dallas.

For More Information, Contact: Media Pat D. Hemlepp Manager, Media Relations 614/223-1620 Analysts John S. Bilacic Manager, Investor Relations 614/223-2847

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