COLUMBUS, Ohio, Jan. 23, 2002 - The Board of Directors of American Electric Power Co. (NYSE: AEP) today declared a regular quarterly cash dividend of 60 cents a share on the company’s common stock.

The dividend is payable March 8, 2002, to shareholders of record as of Feb. 8, 2002, and is the company’s 367th consecutive quarterly common stock cash dividend. AEP has paid a cash dividend on its common stock every quarter since July 1910.

American Electric Power is a multinational energy company based in Columbus, Ohio. AEP owns and operates more than 38,000 megawatts of generating capacity, making it America’s largest generator of electricity. The company is also a leading wholesale energy marketer and trader, ranking second in North America in wholesale electricity and wholesale natural gas volume. AEP provides retail electricity to more than 7 million customers worldwide and has holdings in the U.S. and select international markets. Wholly owned subsidiaries are involved in power engineering and construction services.