BRIDGMAN, Mich., Dec. 1, 2003 - American Electric Power’s (NYSE:AEP) Cook Nuclear Plant Unit 1 returned to service Nov. 26 after a 39-day refueling outage. About 50 percent more work was completed during this outage to support Cook’s equipment reliability initiatives and improve post-outage plant operation. At the same time, considerable reductions in the safety incident rate and worker radiation exposure were achieved.

“A significant amount of quality work was completed safely and in a timely fashion,” said Mano K. Nazar, senior vice president and chief nuclear officer. “The team made great strides in reducing outage duration, safety incidents and radiation exposure over previous outages.”

Final safety and radiation exposure data is being collected, but estimates show the AEP and contractor safety incident rate was 54 percent lower than for the Unit 2 refueling completed in June. The collective site radiation exposure was the lowest ever, reduced from the Cook record by at least 35 percent.

American Electric Power owns and operates more than 42,000 megawatts of generating capacity in the United States and select international markets and is the largest electricity generator 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 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio.

The comments set forth above include forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. Although AEP and its registrant subsidiaries believe that their expectations are based on reasonable assumptions, any such statements may be influenced by factors that could cause actual outcomes and results to be materially different from those projected. Among the factors that could cause actual results to differ materially from those in the forward-looking statements are: electric load and customer growth; abnormal weather conditions; available sources and costs of fuels; availability of generating capacity; the speed and degree to which competition is introduced to the company’s service territories; the ability to recover stranded costs in connection with deregulation; new legislation and government regulation including requirements for reduced emissions of sulfur, nitrogen, carbon and other substances; pending as future rate cases and negotiations; oversight and/or investigation of the energy sector or its participants; the company’s ability to successfully control costs; the success of acquiring new business ventures and disposing of existing investments that no longer match the company’s corporate profile; international and country-specific developments affecting foreign investments including the disposition of any current foreign investments and potential additional foreign investments; the economic climate and growth in the company’s service territory and changes in market demand and demographic patterns; inflationary trends; accounting pronouncements periodically issued by accounting standard-setting bodies; the performance of AEP’s pension plan; electricity and gas market prices; interest rates; liquidity in the banking, capital and wholesale power markets; actions of rating agencies; changes in technology, including the increased use of distributed generation within the company’s transmission and distribution service territory; and other risks and unforeseen events, including wars, the effects of terrorism, embargoes and other catastrophic events.