8/31/2004

AEP names Sloat vice president - investor relations; Pena to retire at end of 2004

COLUMBUS, Ohio, Aug. 31, 2004 - Julie Sloat has been named vice president - investor relations for American Electric Power (NYSE: AEP), effective immediately. She had been managing director - investor relations.

In addition, Armando Peña, senior vice president - financial policy, announced that he will retire at the end of 2004 after 33 years with AEP.

“Under Julie’s capable leadership, we will have continued success in clearly communicating our strategy to our shareholders, the owners of this company,” said Michael G. Morris, AEP’s chairman, president and chief executive officer.

“Of course, Armando will leave an indelible stamp on AEP’s finance and investor relations organizations,” Morris said. “His many years of dedicated service have benefited the company immeasurably, and we wish him the best in his retirement.”

Sloat will report to Susan Tomasky, executive vice president and chief financial officer.

“The skills and energy Julie already has brought to our investor relations group have helped enhance our profile in the investment community,” said Tomasky. “Her new role will provide more opportunities for her to make a positive impact.”

Sloat, 35, joined AEP’s credit risk management department in 1999 and moved to the company’s investor relations department a year later. She was named managing director - investor relations in 2003. Before joining AEP, Sloat was employed by Bank One from 1995 to 1999, serving as a bank debt underwriter and buy-side equity analyst covering the electric utilities sector. She worked for M&T Mortgage Corp., a subsidiary of M&T Bank Corp., from 1993 to 1995.

Sloat earned a bachelor’s degree in business administration with a double major in finance and economics from The Ohio State University (OSU). In 1999, she received a master’s degree in business administration from OSU and was the recipient of the Faculty Recognition Academic Excellence Award and the Weidler Scholar Award for placing in the top 15 percent of her class.

She completed Level I of the Chartered Financial Analyst examination series. She also served as first vice president of the National Investor Relations Institute Central Ohio Chapter Board of Directors in 2003-2004 and as second vice president during the prior year.

Peña, 59, has held his current post since early 2003. He previously served as senior vice president - finance of AEP Service Corp. and as treasurer of AEP and its subsidiary companies, including AEP Service Corp.

Peña, who joined AEP in 1971 as a controllership staff analyst, also held the positions of assistant to the president, assistant vice president - banking and security analyst, and vice president - finance.

American Electric Power owns more than 36,000 megawatts of generating capacity in the United States and is the nation’s largest electricity generator. AEP is also one of the largest electric utilities in the United States, with more than 5 million customers linked to AEP’s 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio.

MEDIA CONTACT:
David Hagelin
Corporate Media Relations
614/716-1938

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