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SOUTHERN COMPANY ANNOUNCES EARNINGS

 ATLANTA, July 29 /PRNewswire/ -- "Our financial performance for the first half of this year shows moderate improvement over our 1992 results, reflecting strong demand for electricity across the region we serve," Southern Company President Edward L. Addison said today.
 The Southern Company (NYSE: SO) is the parent firm of five electric utilities: Alabama Power, Georgia Power, Gulf Power, Mississippi Power, and Savannah Electric. The Southern Company's common stock is one of the 20 most widely held corporate stocks in America.
 Addison announced that earnings for the first six months of 1993 were $427 million or $1.35 a share -- up $19 million or 6 cents a share from the first six months of 1992.
 For the 12 months ending June 30, net income totaled $973 million or $3.07 a share -- a decrease of $3 million or 2 cents a share from the corresponding period a year earlier. Both the six-month and 12-month periods ending June 30 were affected by a gain of $18 million or 6 cents a share from the second installment in the sale of Plant Scherer Unit 4 to utilities in Florida.
 Earnings for the 12 months ending June 30, 1992, were affected by a gain of $114 million or 36 cents a share from the settlement of a contract dispute with Gulf States Utilities in November 1991.
 Net income for the three months ending June 30, was $250 million or 79 cents a share, up $27 million or 9 cents a share from the comparable period in 1992.
 Reviewing operations, Addison said electricity use by retail customers in The Southern Company's service area increased 3.6 percent during the first six months of 1993. In-home electricity needs were up 6.0 percent to 16.3 billion kilowatt-hours. Electricity consumption by commercial customers -- offices, stores, and other non-manufacturing firms -- gained 4.5 percent to 15.4 billion kilowatt-hours. Industrial energy use increased 1.5 percent to 23.8 billion kilowatt-hours.
 Total sales of electricity to customers of The Southern Company -- including sales to other utilities -- were up 4.9 percent for the first half of 1993.
 THE SOUTHERN COMPANY AND SUBSIDIARIES
 Consolidated Condensed Income Data
 (Amounts in millions)
 6 months ended June 1993 1992 Pct. chg.
 Operating revenues $3,908 $3,819 2.3
 Income before interest charges $ 866 $ 837 3.5
 Consolidated net income $ 427 $ 408 4.8
 Average number of shares of common
 stock outstanding 317 316 0.6
 Earnings per share of common
 stock $ 1.35 $ 1.29 4.7
 Kilowatthour sales:
 Retail sales 55,848 53,889 3.6
 Total sales 69,333 66,106 4.9
 12 months ended June 1993(a) 1992(a) Pct. chg.
 Operating revenues $8,161 $8,064 1.2
 Income before interest charges $1,822 $1,850 (1.5)
 Consolidated net income $ 973 $ 976 (0.4)
 Average number of shares of common
 stock outstanding 317 316 0.4
 Earnings per share of common
 stock $ 3.07 $ 3.09 (0.6)
 Kilowatthour sales:
 Retail sales 115,206 112,147 2.7
 Total sales 145,212 141,588 2.6
 (a) Income before interest charges and consolidated net income include a settlement from Gulf States Utilities Company.
 3 months ended June 1993 1992 Pct. chg.
 Operating revenues $2,068 $2,011 2.8
 Income before interest charges 486 438 11.0
 Consolidated net income 250 223 12.2
 Average number of shares of common
 stock outstanding 318 316 7.6
 Earnings per share of common
 stock $ 0.79 $ 0.70 12.9
 Kilowatthour sales: (millions)
 Retail sales 28,932 27,711 4.4
 Total sales 35,974 34,658 3.8
 -0- 7/29/93
 /CONTACT: David Mould or Karen O'Leary of The Southern Company, 404-455-1077/
 (SO)


CO: The Southern Company ST: Georgia IN: UTI SU: ERN

BR-TG -- AT015 -- 7255 07/29/93 13:33 EDT
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Date:Jul 29, 1993
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