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SOUTHERN COMPANY TO BUY INTEREST IN FIRST PACIFIC NETWORKS

 ATLANTA, March 17 /PRNewswire/ -- The Southern Company (NYSE: SO) has entered into a letter of intent with First Pacific Networks, Inc. (NASDAQ: FPNX) (FPN) of Sunnyvale, Calif., to acquire an interest in FPN and test its energy-management technology in The Southern Company's service territory.
 The Southern Company 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.
 The letter of intent focuses on marketing and installing FPN's PowerView(TM) product, an interactive demand-side energy management system. PowerView promotes more efficient use of energy by providing customers with expanded control of energy usage and enhancing communications between customers and the utility company.
 "This technology is consistent with The Southern Company's corporate goal of providing world-class service by giving our customers more options and greater control over their energy use," Southern Company President Edward L. Addison said. He added that the technology "builds upon the demand-side management initiatives already in place in our jurisdictions."
 The proposed agreements, subject to satisfactory completion of due diligence and technical review by Southern and approval by government regulators and the boards of both companies, provides for The Southern Company to acquire a 9.95 percent equity position in First Pacific Networks, Inc.
 In addition, the proposal would grant The Southern Company technology licenses, provide for revenue-sharing agreements, and provide for funding engineering and tailored collaborations with the Electric Power Research Institute.
 -0- 3/17/93 R
 /CONTACT: David Mould of The Southern Company, 404-455-1077/
 (SO FPNX)


CO: The Southern Company; First Pacific Networks, Inc. ST: Georgia, California IN: OIL SU:

RA-BN -- AT012R -- 7403 03/18/93 10:44 EST
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Publication:PR Newswire
Date:Mar 18, 1993
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