COLUMBUS, Ohio, Jan. 6, 2000 – AEP Resources Inc., a subsidiary of American Electric Power (NYSE: AEP), has acquired a 50 percent share of the Bajio Power Project from InterGen.

Bajio is a 600 megawatt natural gas-fired, combined cycle power plant under construction in the municipality of San Luis de la Paz in the state of Guanajuato, Mexico, approximately 160 miles from Mexico City.

InterGen was awarded the contract for the build, own and operate facility by Mexico´s Comisión Federal de Electricidad (CFE) on April 29, 1999. The cost of the project is approximately $430 million. AEP Resources will assume half of the costs under terms of the agreement.

CFE has signed a 25-year power purchase agreement for 85 percent of the power and will provide the facility with natural gas as the base fuel and diesel as the alternate fuel. The remaining power will be delivered to industrial consumers in the region.

Commercial operations are projected for November 2001.

"We´re very pleased to join InterGen in the Bajio project," said Jim Sweeney, AEP Resources´ vice president - Latin America development. "We were very interested in the project when bidding was underway and are looking forward to working with InterGen during construction and operation of the plant."

InterGen is an international power generation company jointly owned by Shell Generating Limited and Bechtel Enterprises Holdings, Inc. The company is now operating or building a total of nine power stations representing 5,920 MW. The company has secured contracts, bid awards or governmental mandates for power stations representing an additional 6,440 MW. InterGen has projects operating, under construction and/or mandate in the United Kingdom, the Philippines, Colombia, Mexico, China, Egypt, Turkey, Brazil and Australia, and is developing projects in a number of other countries.

AEP Resources, a wholly owned subsidiary of American Electric Power, pursues a significant presence in selected energy markets with supporting assets globally. The company has assets in the United States, the United Kingdom, Australia and China. AEP Resources manages global developments from its offices in Columbus, Ohio; Washington, D.C; Houston; London; Singapore; Toronto; Beijing; and Sydney, Australia.

American Electric Power, a global energy company, is one of the United States´ largest investor-owned utilities, providing energy to 3 million customers in Indiana, Kentucky, Michigan, Ohio, Tennessee, Virginia and West Virginia. AEP has holdings in the United States, the United Kingdom, China and Australia. Wholly owned subsidiaries provide power engineering, energy consulting and energy management services around the world. The company is based in Columbus, Ohio. On Dec. 22, 1997, AEP announced a definitive merger agreement for a tax-free, stock-for-stock transaction with Central and South West Corp., a public utility holding company based in Dallas.