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APPALACHIAN POWER TO REDEEM PART OF PREFERRED STOCK ISSUE

 APPALACHIAN POWER TO REDEEM
 PART OF PREFERRED STOCK ISSUE
 ROANOKE, Va., March 26 /PRNewswire/ -- Appalachian Power Company today announced that on May 1 it will redeem $4 million of its $2.65 preferred stock. The $2.65 preferred stock to be redeemed totals 160,000 shares or 10 percent of the originally issued shares.
 Redemption price for the preferred is $25 per share and will be paid by check upon presentation of the shares called for redemption. The quarterly dividend of $0.6625 per share will be paid separately by check mailed in the usual manner.
 This redemption is being made under terms of the sinking fund established for retirement of the issue, which requires Appalachian Power to redeem 5 percent of this series (80,000 shares) on May 1 each year (beginning in 1984). In addition, the company has the non-cumulative option of redeeming another 5 percent (an additional 80,000 shares) at the same time.
 Transfer books for this series will be closed at the close of business on March 30 to allow for selection by lot of the shares to be called for redemption. They will be opened on or about April 1 when the notice of redemption is expected to be mailed to holders of record of the shares to be redeemed. Sinking fund agent is First Chicago Trust Company of New York, Inc.
 Appalachian Power is an operating electric utility subsidiary of American Electric Power Company (NYSE: AEP), Columbus.
 -0- 3/26/92
 /CONTACT: Michael L. Mahoney of American Electric Power, 614-223-1674/
 (AEP) CO: American Electric Power Company ST: Ohio IN: UTI SU:


KK -- CL009 -- 1899 03/26/92 10:53 EST
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Publication:PR Newswire
Date:Mar 26, 1992
Words:277
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