Columbus, Ohio, and Dallas, April 28, 1999 – American Electric Power (NYSE: AEP), Central and South West Corp. (CSW) (NYSE: CSR) and local unions of the International Brotherhood of Electrical Workers (IBEW) representing employees of AEP and CSW have ratified a settlement agreement covering issues raised in the pending merger between AEP and CSW, the parties announced today. AEP and CSW are obtaining necessary state and federal regulatory approvals for the merger, which was announced on Dec. 22, 1997, and targeting completion of the merger by the end of 1999. The merged company will be known as American Electric Power. As part of the settlement, the IBEW local unions will withdraw their opposition to completing the merger. "This settlement is great news for the companies and our IBEW employees," said William J. Lhota, AEP executive vice president. "It represents a partnership between the companies and the union as we work together to prepare for the very competitive marketplace that awaits our industry. This is a momentum-building step as we move toward completion of a merger that is expected to bring more than $2 billion in savings to our customers and shareholders." "We're pleased to have reached a settlement that will allow our companies and employees to focus on completing this merger and creating a new company that will be a leader in the energy industry," said Venita McCellon-Allen, senior vice president of customer relations and corporate development. "We look forward to working with our employees and the IBEW to build the new AEP." The settlement covers approximately 3,700 IBEW members employed by AEP and CSW in Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia. The settlement confirms that the companies will not eliminate any current IBEW employee as a result of the merger. The company will also recognize existing labor agreements. IBEW local union officials said, “The agreement addresses job security concerns raised by employees and includes other important improvements that reflect the commitment of the companies to build a cooperative and constructive relationship with the IBEW and employees as we move into the future.” Central and South West Corp. is a global, diversified public utility holding company based in Dallas. CSW owns four electric operating subsidiaries serving 1.7 million customers in Texas, Oklahoma, Louisiana and Arkansas; a regional electricity company in the United Kingdom; other international energy operations and non-utility subsidiaries involved in energy-related investments, telecommunications, energy efficiency and financial transactions. AEP, 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.