COLUMBUS, Ohio, May 22, 2002 - American Electric Power (NYSE: AEP) today submitted a response to a request from the Federal Energy Regulatory Commission (FERC) confirming that AEP had not participated in California energy market strategies outlined in Enron memos and under investigation by the FERC.

“From the beginning, we were confident that we had not been involved in the types of activities being investigated by the FERC,” said Eric J. van der Walde, AEP’s executive vice president of marketing and trading. “We have now completed a review of all of our California transactions and can confirm the answers we supplied the commission are accurate.”

AEP and more than 100 other companies received fact-finding letters from the FERC dated May 8 with instructions to “admit or deny” allegations made in 11 statements related to Enron’s California strategies detailed in Enron internal memos obtained by the FERC. Companies admitting involvement were to submit documentation relating to the strategies. Responses were to be submitted to the FERC by today.

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.

AEP´s May 22 response to FERC