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INDIANA MICHIGAN POWER TO REDEEM BONDS

 FORT WAYNE, Ind., March 25 /PRNewswire/ -- Indiana Michigan Power Company today announced that it will redeem on April 24 the entire outstanding $75,000,000 of its 9-1/8 percent Series of First Mortgage Bonds due 1997 and that it will redeem on May 1 the entire outstanding $34,034,000 of its 9-1/2 percent Series due 2008.
 9-1/8 Percent Series Due 1997
 The company will redeem on April 24, 1993 the entire outstanding $75,000,000 principal amount of the 9-1/8 percent Series due 1997 at 100 percent of the principal amount of the bonds plus accrued interest to the date of redemption, to be paid upon presentment.
 This redemption is in accordance with the terms of the mortgage under which the bonds were issued which permit the company to redeem the bonds with certain funds deposited with the trustee under the mortgage.
 The notice of redemption is expected to be mailed today.
 9-1/2 Percent Series Due 2008
 The company will redeem on May 1, 1993, $20,961,000 principal amount of the 9-1/2 percent Series of First Mortgage Bonds due 2008 at 100.48 percent of the principal amount of the bonds together with accrued interest to the date of redemption, to be paid upon presentment.
 This redemption is in accordance with the terms of the mortgage under which the bonds were issued which permit the company to redeem the bonds with certain funds deposited with the trustee under the mortgage.
 The company will also redeem on May 1, 1993, the entire remaining then-to-be outstanding $13,073,000 principal amount of the 9-1/2 percent Series due 2008 not previously called for redemption at 103.75 percent of the principal amount of the bonds together with accrued interest to the date of redemption, to be paid upon presentment.
 This redemption is in accordance with the terms of the mortgage under which the bonds were issued which permit the company to redeem the bonds prior to maturity.
 The notice of redemption is expected to be mailed on or before April 1, 1993.
 The Bank of New York, is the redemption agent and trustee.
 Indiana Michigan Power is one of seven operating companies of American Electric Power Co., Inc. (NYSE: AEP). Indiana Michigan Power, headquartered in Fort Wayne, Ind., provides service to approximately 520,000 customers.
 -0- 3/25/93
 /CONTACT: Luke M. Feck, Senior Vice President-Public Affairs, American Electric Power, 614-223-1650/
 (AEP)


CO: Indiana Michigan Power Company ST: Indiana IN: UTI SU:

BM -- CL015 -- 9620 03/25/93 13:09 EST
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Publication:PR Newswire
Date:Mar 25, 1993
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