Mar 30, 2004 -- Public Service Company of Oklahoma, a wholly owned operating subsidiary of American Electric Power (NYSE: AEP), today announced that on May 5, 2004, its trust subsidiary, PSO Capital I, will redeem all of its outstanding 8% Trust Originated Preferred Securities, Series A (CUSIP No. 693639205), at the redemption price of $25 per preferred security, plus accrued and unpaid distributions of $0.19444 per preferred security.

QUANTUMONLINE.COM SECURITY DESCRIPTION:  PSO Capital I, 8.00% Trust Originated Preferred Securities (TOPrS), Series A, liquidation preference $25 per share, guaranteed by Public Service Co. of Oklahoma, a wholly-owned subsidiary of American Electric Power (NYSE: AEP), redeemable at the issuer's option on or after 4/30/2002 at $25 per share plus accrued and unpaid dividends, maturing 4/30/2037, distributions of 8.00% ($2.00) per annum are paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 8% Junior Subordinated Deferrable Interest Debentures, Series A due 4/30/2037 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.

Stock Exchange	Cpn Rate Ann Amt	LiqPref CallPrice	Call Date Matur Date	Moodys/S&P Dated	Distribution Dates	15% Tax Rate
NYSE Chart	8.00% $2.00	$25.00 $25.00	Called for 5/05/2004 4/30/2037	Baa2 BBB 2/17/2004	3/31, 6/30, 9/30 & 12/31 Click for MW ExDiv Date Click for Yahoo ExDiv Date	No

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Address:   1 Riverside Plaza, 28th Floor, Columbus, OH 43215
Main Phone Number	614-716-1000
Fax Number	614-716-1823
Investor Relations   Kathleen Kozero	614-716-2819
Toll Free Phone Number	800-237-2667

CEO - Michael G. Morris

CFO - Brian X. Tierney