ROANOKE, Va. April 27, 1999 -- Appalachian Power Co., a wholly owned subsidiary of American Electric Power (NYSE: AEP), today announced it will redeem $77,234,000 of certain First Mortgage Bonds, Designated Secured Medium Term Notes, on May 28, 1999. The redemptions are of: the entire $37,471,000 principal amount of the 8.43% Series due June 1, 2022, the entire $30,000,000 principal amount of the 7.90% Series due June 1, 2023, and $9,763,000 of the $40,000,000 currently outstanding principal amount of the 7.80% Series due May 1, 2023. All bonds will be redeemed at the special redemption price of 100 percent of the principal amount of each bond plus accrued interest to May 28, 1999. This action is being taken under the terms of the mortgage under which the bonds were issued, which permit Appalachian to redeem the bonds with funds deposited with the trustee. The notice of redemption is expected to be mailed on or before April 28, 1999. Bankers Trust Company, New York, is the redemption agent and trustee. American Electric Power, 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.