UNITED STATES OF AMERICA
BEFORE THE SECURITIES AND EXCHANGE COMMISSION
- ----------------------------------------------
:
In the Matter of :
:
AMERICAN ELECTRIC POWER COMPANY, INC. : CERTIFICATE OF
AEP GENERATING COMPANY : NOTIFICATION
APPALACHIAN POWER COMPANY : NO. 12
COLUMBUS SOUTHERN POWER COMPANY :
INDIANA MICHIGAN POWER COMPANY :
KENTUCKY POWER COMPANY :
KINGSPORT POWER COMPANY :
OHIO POWER COMPANY :
WHEELING POWER COMPANY :
Columbus, Ohio :
:
(70-8693) :
Public Utility Holding Company Act of 1935 :
- ----------------------------------------------:
THIS IS TO CERTIFY THAT AMERICAN ELECTRIC POWER COMPANY, INC., and certain
of its electric utility subsidiaries, in accordance with the terms and
conditions of, and for the purposes represented by, the Application or
declaration herein, as amended, the orders of the Securities and Exchange
Commission with respect thereto, dated December 8, 1995 and May 4, 1998, have
carried out the transactions listed below:
1. American Electric Power Company, Inc, Appalachian Power
Company, AEP Generating Company, Kentucky Power Company, Columbus Southern
Power Company, Indiana Michigan Power Company, Kingsport Power Company,
Ohio Power Company, and Wheeling Power Company made short-term note
borrowings from banks during the calendar quarter ended December 31, 1998;
American Electric Power Company, Inc., Appalachian Power Company and
Columbus Southern Power Company sold commercial paper to Lehman Brothers
Commercial Paper, Incorporated; Appalachian Power Company sold commercial
paper to First Chicago; Columbus Southern Power Company sold commercial
paper to Solomon Smith Barney; Indiana Michigan Power Company and Ohio
Power Company sold commercial paper to Goldman Sachs Money Markets, L.P.;
Kentucky Power Company sold commercial paper to Merrill Lynch Money
Markets, Incorporated; and American Electric Power Company, Inc., Columbus
Southern Power Company and Kentucky Power Company sold commercial paper to
Morgan Stanley & Co. during the calendar quarter ended December 31, 1998.
These note borrowings from banks and commercial paper transactions, if
any, are summarized on the attached computer printouts for each company. Bank
note borrowings are indicated as "BL" and Commercial Paper transactions by each
company are indicated as "CP".
The interest rate for each transaction involving note borrowings from
banks in the report is calculated on an interest-bearing basis and a 360-day
year. The interest rate for each commercial paper transaction is calculated on a
discounted basis and a 360-day year. The actual prime rates in effect during the
quarter are set forth in Exhibit A.
This Certificate of Notification is filed pursuant to the Commission's
Order in this proceeding after the end of the calendar quarter during which the
above-described transactions were consummated.
AMERICAN ELECTRIC POWER COMPANY, INC.
AEP GENERATING COMPANY
APPALACHIAN POWER COMPANY
COLUMBUS SOUTHERN POWER COMPANY
INDIANA MICHIGAN POWER COMPANY
KENTUCKY POWER COMPANY
KINGSPORT POWER COMPANY
OHIO POWER COMPANY
WHEELING POWER COMPANY
By: /s/ A. A. Pena
A. A. Pena, Vice President
Dated: January 8, 1999
<PAGE>
EXHIBIT A
AMERICAN ELECTRIC POWER SYSTEM
Schedule of Monthly Prime Rates
Fourth Quarter of the Calendar Year 1998
Month Actual Prime Rates*
Sep 1 - Oct 15 8.25%
Oct 16 - Nov 17 8.00%
Nov 18 - Dec 31 7.75%
* Represents the prime commercial lending rates of major New York City
banks as reported in The Wall Street Journal.
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
AMERICAN ELECTRIC POWER COMPANY, INC.
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/15/98 10/29/98 14 5.4800 850,000.00 1,811.44 851,811.44
10/21/98 11/20/98 30 5.4700 25,150,000.00 114,642.08 25,264,642.08
10/29/98 11/10/98 12 5.5100 12,725,000.00 23,371.58 12,748,371.58
11/10/98 11/12/98 2 5.2900 12,425,000.00 3,651.57 12,428,651.57
11/12/98 11/20/98 8 5.5000 12,425,000.00 15,186.11 12,440,186.11
11/16/98 11/20/98 4 5.4600 200,000.00 121.33 200,121.33
11/20/98 11/24/98 4 4.6487 30,000,000.00 15,495.67 30,015,495.67
11/20/98 11/24/98 4 4.9000 24,200,000.00 13,175.56 24,213,175.56
12/10/98 12/11/98 1 4.9021 10,300,000.00 1,402.55 10,301,402.55
---------------- ---------------- ----------------
BL TOTAL 128,275,000.00 188,857.89 128,463,857.89
CP 10/02/98 10/29/98 27 5.5800 12,248,524.50 51,475.50 12,300,000.00
10/06/98 10/30/98 24 5.7000 16,188,250.00 61,750.00 16,250,000.00
10/30/98 11/20/98 21 5.7100 16,195,873.96 54,126.04 16,250,000.00
11/24/98 11/30/98 6 5.4500 37,266,119.17 33,880.83 37,300,000.00
11/30/98 12/09/98 9 5.5000 39,645,412.50 54,587.50 39,700,000.00
12/02/98 12/18/98 16 5.2800 30,029,365.33 70,634.67 30,100,000.00
12/09/98 12/10/98 1 5.0000 39,694,486.11 5,513.89 39,700,000.00
12/10/98 12/15/98 5 5.1500 24,982,118.06 17,881.94 25,000,000.00
12/11/98 12/31/98 20 5.1700 8,575,298.89 24,701.11 8,600,000.00
12/14/98 12/18/98 4 5.4500 2,848,274.17 1,725.83 2,850,000.00
12/15/98 12/16/98 1 5.6000 26,195,924.44 4,075.56 26,200,000.00
12/16/98 12/29/98 13 5.3000 28,146,028.33 53,971.67 28,200,000.00
12/17/98 12/18/98 1 5.2000 2,799,595.56 404.44 2,800,000.00
12/18/98 12/21/98 3 5.0000 36,284,875.00 15,125.00 36,300,000.00
12/21/98 12/28/98 7 5.1500 36,263,649.58 36,350.42 36,300,000.00
12/22/98 12/31/98 9 5.2000 1,997,400.00 2,600.00 2,000,000.00
12/28/98 01/07/99 10 6.7000 24,953,472.22 46,527.78 25,000,000.00
12/28/98 01/07/99 10 6.7000 4,107,341.53 7,658.47 4,115,000.00
12/28/98 12/29/98 1 5.3000 7,083,956.93 1,043.07 7,085,000.00
12/29/98 01/05/99 7 7.2500 15,208,529.93 21,470.07 15,230,000.00
12/29/98 12/30/98 1 5.3000 22,066,750.81 3,249.19 22,070,000.00
12/30/98 01/04/99 5 6.8000 22,678,561.11 21,438.89 22,700,000.00
12/31/98 01/04/99 4 5.7500 10,743,131.94 6,868.06 10,750,000.00
---------------- ---------------- ----------------
CP TOTAL 466,202,940.07 597,059.93 466,800,000.00
---------------- ---------------- ----------------
AMERICAN ELECTRIC POWER COMPANY, INC. TOTAL 594,477,940.07 785,917.82 595,263,857.89
================ ================ ================
AVERAGE NUMBER OF DAYS 8.88
WEIGHTED AVERAGE RATE 5.4506
</TABLE>
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
AEP GENERATING COMPANY
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/01/98 10/23/98 22 5.5800 150,000.00 511.50 150,511.50
10/08/98 10/23/98 15 5.5800 3,625,000.00 8,428.13 3,633,428.13
10/13/98 10/23/98 10 5.6000 1,550,000.00 2,411.11 1,552,411.11
10/21/98 10/23/98 2 5.3500 5,325,000.00 1,582.71 5,326,582.71
10/27/98 10/30/98 3 5.3500 675,000.00 300.94 675,300.94
10/30/98 11/20/98 21 5.4500 4,950,000.00 15,736.88 4,965,736.88
11/02/98 11/20/98 18 5.4500 575,000.00 1,566.88 576,566.88
11/10/98 11/23/98 13 5.7500 4,775,000.00 9,914.76 4,784,914.76
11/18/98 11/20/98 2 5.2000 600,000.00 173.33 600,173.33
11/20/98 11/23/98 3 4.7000 1,900,000.00 744.17 1,900,744.17
12/07/98 12/21/98 14 5.2900 38,000,000.00 78,174.44 38,078,174.44
12/08/98 12/18/98 10 5.0800 325,000.00 458.61 325,458.61
12/21/98 01/06/99 16 6.4800 23,125,000.00 66,600.00 23,191,600.00
12/30/98 01/06/99 7 5.6200 425,000.00 464.43 425,464.43
12/31/98 01/04/99 4 6.2000 900,000.00 620.00 900,620.00
---------------- ---------------- ----------------
BL TOTAL 86,900,000.00 187,687.89 87,087,687.89
---------------- ---------------- ----------------
AEP GENERATING COMPANY TOTAL 86,900,000.00 187,687.89 87,087,687.89
================ ================ ================
AVERAGE NUMBER OF DAYS 10.67
WEIGHTED AVERAGE RATE 5.6611
</TABLE>
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
AMERICAN ELECTRIC POWER SERVICE CORP.
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/22/98 11/24/98 33 5.3957 14,000,000.00 69,244.82 14,069,244.82
11/13/98 12/18/98 35 5.7200 6,425,000.00 35,730.14 6,460,730.14
11/16/98 12/18/98 32 5.4800 3,125,000.00 15,222.22 3,140,222.22
11/30/98 12/18/98 18 5.3300 6,700,000.00 17,855.50 6,717,855.50
12/01/98 12/18/98 17 5.2600 4,800,000.00 11,922.67 4,811,922.67
12/03/98 12/18/98 15 5.2690 1,100,000.00 2,414.96 1,102,414.96
12/07/98 12/17/98 10 5.1422 1,800,000.00 2,571.10 1,802,571.10
12/08/98 12/17/98 9 5.3056 400,000.00 530.56 400,530.56
12/09/98 12/17/98 8 4.9500 500,000.00 550.00 500,550.00
12/10/98 12/17/98 7 5.1300 2,725,000.00 2,718.19 2,727,718.19
12/11/98 12/17/98 6 5.2000 800,000.00 693.33 800,693.33
12/14/98 12/17/98 3 5.3457 1,000,000.00 445.48 1,000,445.48
12/15/98 01/07/99 23 5.7125 10,625,000.00 38,777.56 10,663,777.56
12/18/98 01/07/99 20 5.7125 8,800,000.00 27,927.78 8,827,927.78
12/29/98 01/07/99 9 6.7500 325,000.00 548.44 325,548.44
12/30/98 01/07/99 8 5.3700 775,000.00 924.83 775,924.83
12/31/98 01/08/99 8 5.3800 8,300,000.00 9,923.11 8,309,923.11
---------------- ---------------- ----------------
BL TOTAL 72,200,000.00 238,000.69 72,438,000.69
---------------- ---------------- ----------------
AMERICAN ELECTRIC POWER SERVICE CORP. TOTAL 72,200,000.00 238,000.69 72,438,000.69
================ ================ ================
AVERAGE NUMBER OF DAYS 15.35
WEIGHTED AVERAGE RATE 5.4776
</TABLE>
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
APPALACHIAN POWER COMPANY
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/02/98 10/09/98 7 5.5600 7,400,000.00 8,000.22 7,408,000.22
10/06/98 10/14/98 8 5.7500 25,500,000.00 32,583.33 25,532,583.33
10/09/98 10/19/98 10 5.5500 3,300,000.00 5,087.50 3,305,087.50
10/13/98 10/19/98 6 5.7300 10,450,000.00 9,979.75 10,459,979.75
10/15/98 10/19/98 4 5.4800 2,700,000.00 1,644.00 2,701,644.00
10/16/98 10/21/98 5 5.3350 20,600,000.00 15,264.03 20,615,264.03
10/19/98 10/20/98 1 5.4800 8,000,000.00 1,217.78 8,001,217.78
10/19/98 10/20/98 1 5.3000 10,000,000.00 1,472.22 10,001,472.22
10/20/98 10/23/98 3 5.3800 11,225,000.00 5,032.54 11,230,032.54
10/20/98 10/23/98 3 5.4500 4,000,000.00 1,816.67 4,001,816.67
10/21/98 10/22/98 1 5.3325 20,400,000.00 3,021.75 20,403,021.75
10/22/98 10/26/98 4 5.2500 19,000,000.00 11,083.33 19,011,083.33
10/23/98 10/27/98 4 5.0922 6,750,000.00 3,819.15 6,753,819.15
10/26/98 10/28/98 2 5.3150 17,000,000.00 5,019.72 17,005,019.72
10/28/98 10/29/98 1 5.4250 16,100,000.00 2,426.18 16,102,426.18
10/29/98 11/03/98 5 5.5000 13,500,000.00 10,312.50 13,510,312.50
10/30/98 11/04/98 5 5.7750 21,000,000.00 16,843.75 21,016,843.75
11/03/98 11/09/98 6 5.5200 11,700,000.00 10,764.00 11,710,764.00
11/04/98 11/10/98 6 5.5565 18,200,000.00 16,854.72 18,216,854.72
11/06/98 11/13/98 7 5.6000 13,900,000.00 15,135.56 13,915,135.56
11/09/98 11/16/98 7 5.4900 8,150,000.00 8,700.13 8,158,700.13
11/10/98 11/17/98 7 5.4650 16,000,000.00 17,002.22 16,017,002.22
11/10/98 11/17/98 7 5.5400 5,850,000.00 6,301.75 5,856,301.75
11/16/98 11/19/98 3 5.9000 13,700,000.00 6,735.83 13,706,735.83
11/18/98 11/23/98 5 5.2000 3,650,000.00 2,636.11 3,652,636.11
11/20/98 12/02/98 12 5.2000 12,000,000.00 20,800.00 12,020,800.00
12/01/98 12/09/98 8 5.2600 9,800,000.00 11,455.11 9,811,455.11
12/02/98 12/11/98 9 5.2000 8,500,000.00 11,050.00 8,511,050.00
12/02/98 12/11/98 9 5.2800 400,000.00 528.00 400,528.00
12/10/98 12/18/98 8 5.0800 5,325,000.00 6,011.33 5,331,011.33
12/30/98 01/04/99 5 5.6200 31,000,000.00 24,197.22 31,024,197.22
12/30/98 01/04/99 5 5.9500 3,600,000.00 2,975.00 3,602,975.00
---------------- ---------------- ----------------
BL TOTAL 378,700,000.00 295,771.40 378,995,771.40
CP 10/01/98 10/06/98 5 5.7400 24,080,786.94 19,213.06 24,100,000.00
10/05/98 10/13/98 8 5.6300 7,989,991.11 10,008.89 8,000,000.00
10/06/98 10/16/98 10 5.8000 26,107,869.44 42,130.56 26,150,000.00
10/14/98 10/19/98 5 5.7000 13,489,312.50 10,687.50 13,500,000.00
11/02/98 11/06/98 4 5.9500 15,889,488.33 10,511.67 15,900,000.00
11/05/98 11/12/98 7 5.7300 10,488,301.25 11,698.75 10,500,000.00
11/12/98 11/18/98 6 5.6000 6,493,933.33 6,066.67 6,500,000.00
11/13/98 11/16/98 3 5.5500 6,996,762.50 3,237.50 7,000,000.00
11/17/98 11/20/98 3 5.5800 12,094,373.50 5,626.50 12,100,000.00
11/19/98 11/25/98 6 5.1500 8,842,403.75 7,596.25 8,850,000.00
11/23/98 12/03/98 10 5.5000 5,291,902.78 8,097.22 5,300,000.00
11/25/98 12/08/98 13 5.3300 2,345,476.90 4,523.10 2,350,000.00
11/30/98 12/07/98 7 5.6800 9,089,949.56 10,050.44 9,100,000.00
12/03/98 12/04/98 1 5.0000 4,999,305.56 694.44 5,000,000.00
12/03/98 12/04/98 1 5.0000 899,875.00 125.00 900,000.00
12/04/98 12/09/98 5 5.1500 8,119,188.37 5,811.63 8,125,000.00
12/07/98 12/08/98 1 5.0200 6,299,121.50 878.50 6,300,000.00
12/07/98 12/08/98 1 5.0200 499,930.28 69.72 500,000.00
12/08/98 12/14/98 6 5.1000 2,922,513.75 2,486.25 2,925,000.00
12/09/98 12/16/98 7 5.0800 6,643,431.28 6,568.72 6,650,000.00
12/09/98 12/17/98 8 5.0800 13,834,364.89 15,635.11 13,850,000.00
12/11/98 12/16/98 5 5.3000 9,992,638.89 7,361.11 10,000,000.00
12/11/98 12/16/98 5 5.3000 1,898,601.39 1,398.61 1,900,000.00
12/14/98 12/22/98 8 5.4000 1,847,780.00 2,220.00 1,850,000.00
12/15/98 12/16/98 1 5.5500 15,997,533.33 2,466.67 16,000,000.00
12/15/98 12/16/98 1 5.6000 8,098,740.00 1,260.00 8,100,000.00
12/16/98 12/22/98 6 5.3000 7,683,207.17 6,792.83 7,690,000.00
12/16/98 12/17/98 1 5.1500 17,307,523.71 2,476.29 17,310,000.00
12/16/98 12/17/98 1 5.1500 11,998,283.33 1,716.67 12,000,000.00
12/16/98 12/17/98 1 5.1500 699,899.86 100.14 700,000.00
12/17/98 12/18/98 1 5.1300 25,651,344.16 3,655.84 25,655,000.00
12/17/98 12/23/98 6 5.3000 9,991,166.67 8,833.33 10,000,000.00
12/17/98 12/30/98 13 5.3000 4,935,535.82 9,464.18 4,945,000.00
12/18/98 12/21/98 3 5.0000 25,689,291.67 10,708.33 25,700,000.00
12/18/98 12/28/98 10 5.3000 12,082,186.11 17,813.89 12,100,000.00
12/21/98 12/29/98 8 5.3500 32,461,361.11 38,638.89 32,500,000.00
12/22/98 01/05/99 14 6.5500 3,491,084.72 8,915.28 3,500,000.00
12/23/98 01/05/99 13 6.6000 8,379,980.00 20,020.00 8,400,000.00
12/28/98 01/06/99 9 6.7000 7,487,437.50 12,562.50 7,500,000.00
12/29/98 12/30/98 1 5.3000 28,995,730.56 4,269.44 29,000,000.00
12/29/98 12/30/98 1 5.3000 1,799,735.00 265.00 1,800,000.00
12/31/98 01/05/99 5 5.9000 22,381,644.44 18,355.56 22,400,000.00
---------------- ---------------- ----------------
CP TOTAL 452,288,987.96 361,012.04 452,650,000.00
---------------- ---------------- ----------------
APPALACHIAN POWER COMPANY TOTAL 830,988,987.96 656,783.44 831,645,771.40
================ ================ ================
AVERAGE NUMBER OF DAYS 5.46
WEIGHTED AVERAGE RATE 5.4773
</TABLE>
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
COLUMBUS SOUTHERN POWER COMPANY
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/07/98 10/14/98 7 5.6100 3,000,000.00 3,272.50 3,003,272.50
10/09/98 10/16/98 7 5.5500 1,000,000.00 1,079.17 1,001,079.17
10/13/98 10/22/98 9 5.4600 3,400,000.00 4,641.00 3,404,641.00
10/15/98 10/21/98 6 5.5800 14,000,000.00 13,020.00 14,013,020.00
10/16/98 10/23/98 7 5.4200 13,000,000.00 13,700.56 13,013,700.56
10/21/98 10/27/98 6 5.4500 10,200,000.00 9,265.00 10,209,265.00
10/23/98 10/28/98 5 5.3000 10,800,000.00 7,950.00 10,807,950.00
10/26/98 10/29/98 3 5.3500 21,500,000.00 9,585.42 21,509,585.42
10/27/98 10/29/98 2 5.4500 4,400,000.00 1,332.22 4,401,332.22
10/28/98 11/03/98 6 5.4900 7,500,000.00 6,862.50 7,506,862.50
10/28/98 11/04/98 7 5.4900 4,000,000.00 4,270.00 4,004,270.00
10/29/98 11/09/98 11 5.4500 22,700,000.00 37,801.81 22,737,801.81
11/03/98 11/13/98 10 5.4450 3,900,000.00 5,898.75 3,905,898.75
11/04/98 11/05/98 1 5.6000 2,775,000.00 431.67 2,775,431.67
11/09/98 11/12/98 3 5.4600 20,000,000.00 9,100.00 20,009,100.00
11/10/98 11/13/98 3 5.6600 4,625,000.00 2,181.46 4,627,181.46
11/12/98 11/17/98 5 5.4500 15,500,000.00 11,732.64 15,511,732.64
11/17/98 11/19/98 2 5.4500 10,250,000.00 3,103.47 10,253,103.47
11/18/98 11/23/98 5 5.2000 11,900,000.00 8,594.44 11,908,594.44
11/20/98 12/02/98 12 5.2000 2,500,000.00 4,333.33 2,504,333.33
---------------- ---------------- ----------------
BL TOTAL 186,950,000.00 158,155.94 187,108,155.94
CP 10/01/98 10/13/98 12 5.6200 4,491,570.00 8,430.00 4,500,000.00
10/02/98 10/19/98 17 5.5700 21,443,449.03 56,550.97 21,500,000.00
10/02/98 10/19/98 17 5.5700 398,947.89 1,052.11 400,000.00
10/05/98 10/09/98 4 5.7000 999,366.67 633.33 1,000,000.00
10/06/98 10/22/98 16 5.7100 997,462.22 2,537.78 1,000,000.00
10/09/98 10/16/98 7 5.6000 15,183,448.89 16,551.11 15,200,000.00
10/19/98 10/26/98 7 5.6000 21,976,044.44 23,955.56 22,000,000.00
10/30/98 11/10/98 11 5.8700 6,488,341.53 11,658.47 6,500,000.00
11/02/98 11/06/98 4 5.9300 15,140,017.83 9,982.17 15,150,000.00
11/06/98 11/16/98 10 5.4000 12,181,700.00 18,300.00 12,200,000.00
11/16/98 11/18/98 2 5.7500 12,695,943.06 4,056.94 12,700,000.00
11/19/98 11/25/98 6 5.1500 6,993,991.67 6,008.33 7,000,000.00
11/19/98 11/25/98 6 5.1500 299,742.50 257.50 300,000.00
11/23/98 12/08/98 15 5.3500 10,476,593.75 23,406.25 10,500,000.00
11/25/98 12/03/98 8 5.5000 4,394,622.22 5,377.78 4,400,000.00
11/30/98 12/07/98 7 5.4000 4,994,750.00 5,250.00 5,000,000.00
12/04/98 12/09/98 5 5.0500 2,248,421.87 1,578.13 2,250,000.00
12/07/98 12/09/98 2 4.9500 5,998,350.00 1,650.00 6,000,000.00
12/07/98 12/09/98 2 4.9500 1,449,601.25 398.75 1,450,000.00
12/08/98 12/14/98 6 4.9500 7,418,874.37 6,125.63 7,425,000.00
12/09/98 12/11/98 2 4.9500 4,998,625.00 1,375.00 5,000,000.00
12/09/98 12/11/98 2 4.9500 1,649,546.25 453.75 1,650,000.00
12/10/98 12/16/98 6 5.0500 17,984,850.00 15,150.00 18,000,000.00
12/10/98 12/16/98 6 5.0500 1,498,737.50 1,262.50 1,500,000.00
12/11/98 12/17/98 6 5.2000 3,496,966.67 3,033.33 3,500,000.00
12/14/98 12/18/98 4 5.3000 5,496,761.11 3,238.89 5,500,000.00
12/15/98 12/22/98 7 5.3000 26,972,175.00 27,825.00 27,000,000.00
12/16/98 12/28/98 12 5.3000 10,980,566.67 19,433.33 11,000,000.00
12/17/98 12/29/98 12 5.1500 7,487,125.00 12,875.00 7,500,000.00
12/17/98 12/29/98 12 5.1500 4,492,275.00 7,725.00 4,500,000.00
12/18/98 12/30/98 12 5.2500 3,693,525.00 6,475.00 3,700,000.00
12/21/98 01/05/99 15 6.4500 2,991,937.50 8,062.50 3,000,000.00
12/22/98 01/06/99 15 6.7000 22,935,791.67 64,208.33 23,000,000.00
12/28/98 01/07/99 10 6.7000 6,288,275.00 11,725.00 6,300,000.00
12/29/98 12/30/98 1 5.1500 2,999,570.83 429.17 3,000,000.00
12/29/98 12/30/98 1 5.1500 1,299,814.03 185.97 1,300,000.00
12/30/98 01/05/99 6 6.7000 3,496,091.67 3,908.33 3,500,000.00
12/31/98 01/04/99 4 5.7500 16,489,458.33 10,541.67 16,500,000.00
12/31/98 01/04/99 4 5.7500 199,872.22 127.78 200,000.00
---------------- ---------------- ----------------
CP TOTAL 301,723,203.64 401,796.36 302,125,000.00
---------------- ---------------- ----------------
COLUMBUS SOUTHERN POWER COMPANY TOTAL 488,673,203.64 559,952.30 489,233,155.94
================ ================ ================
AVERAGE NUMBER OF DAYS 7.08
WEIGHTED AVERAGE RATE 5.5166
</TABLE>
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
INDIANA MICHIGAN POWER COMPANY
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/01/98 10/06/98 5 5.4500 7,500,000.00 5,677.08 7,505,677.08
10/01/98 10/06/98 5 5.7300 21,500,000.00 17,110.42 21,517,110.42
10/02/98 10/19/98 17 5.5800 600,000.00 1,581.00 601,581.00
10/06/98 10/13/98 7 5.6400 10,000,000.00 10,966.67 10,010,966.67
10/06/98 10/14/98 8 5.7000 18,000,000.00 22,800.00 18,022,800.00
10/06/98 10/16/98 10 5.6400 2,225,000.00 3,485.83 2,228,485.83
10/07/98 10/09/98 2 5.3000 17,000,000.00 5,005.56 17,005,005.56
10/07/98 10/09/98 2 5.4724 4,000,000.00 1,216.09 4,001,216.09
10/07/98 10/16/98 9 5.6400 1,200,000.00 1,692.00 1,201,692.00
10/08/98 10/16/98 8 5.5800 2,750,000.00 3,410.00 2,753,410.00
10/09/98 10/16/98 7 5.5500 13,900,000.00 15,000.42 13,915,000.42
10/13/98 10/16/98 3 5.5800 7,000,000.00 3,255.00 7,003,255.00
10/14/98 10/19/98 5 5.6300 3,725,000.00 2,912.74 3,727,912.74
10/16/98 10/21/98 5 5.3000 8,800,000.00 6,477.78 8,806,477.78
10/19/98 10/20/98 1 5.4000 18,000,000.00 2,700.00 18,002,700.00
10/20/98 10/22/98 2 5.4000 18,500,000.00 5,550.00 18,505,550.00
10/21/98 10/26/98 5 5.3800 6,400,000.00 4,782.22 6,404,782.22
10/22/98 10/27/98 5 5.3000 16,500,000.00 12,145.83 16,512,145.83
10/23/98 10/28/98 5 5.3000 3,500,000.00 2,576.39 3,502,576.39
10/26/98 10/29/98 3 5.3600 8,000,000.00 3,573.33 8,003,573.33
10/27/98 11/02/98 6 5.4000 18,700,000.00 16,830.00 18,716,830.00
10/28/98 11/02/98 5 5.4900 2,450,000.00 1,868.13 2,451,868.13
10/29/98 11/03/98 5 5.6600 3,925,000.00 3,085.49 3,928,085.49
10/30/98 11/04/98 5 5.6500 28,050,000.00 22,011.46 28,072,011.46
11/02/98 11/05/98 3 5.6600 5,000,000.00 2,358.33 5,002,358.33
11/02/98 11/05/98 3 5.9000 33,300,000.00 16,372.50 33,316,372.50
11/03/98 11/06/98 3 5.4450 3,700,000.00 1,678.88 3,701,678.88
11/05/98 11/12/98 7 5.5500 33,300,000.00 35,936.25 33,335,936.25
11/05/98 11/12/98 7 5.5700 2,200,000.00 2,382.72 2,202,382.72
11/06/98 11/09/98 3 5.2200 3,600,000.00 1,566.00 3,601,566.00
11/12/98 11/13/98 1 5.4300 18,000,000.00 2,715.00 18,002,715.00
11/12/98 11/13/98 1 5.4300 1,200,000.00 181.00 1,200,181.00
11/13/98 11/16/98 3 5.5000 18,850,000.00 8,639.58 18,858,639.58
12/11/98 12/16/98 5 5.2000 1,400,000.00 1,011.11 1,401,011.11
12/14/98 12/17/98 3 5.3457 9,500,000.00 4,232.01 9,504,232.01
12/16/98 12/18/98 2 5.0289 2,200,000.00 614.64 2,200,614.64
---------------- ---------------- ----------------
BL TOTAL 374,475,000.00 253,401.46 374,728,401.46
CP 10/02/98 10/19/98 17 5.6000 38,497,924.44 102,075.56 38,600,000.00
11/04/98 11/09/98 5 5.7500 26,728,637.15 21,362.85 26,750,000.00
11/16/98 11/17/98 1 6.1500 9,498,377.08 1,622.92 9,500,000.00
11/24/98 11/25/98 1 4.9000 824,887.71 112.29 825,000.00
11/25/98 12/02/98 7 5.3800 6,293,409.50 6,590.50 6,300,000.00
11/30/98 12/03/98 3 5.7000 20,990,025.00 9,975.00 21,000,000.00
11/30/98 12/01/98 1 5.8000 4,329,302.39 697.61 4,330,000.00
11/30/98 12/02/98 2 5.7500 2,969,051.25 948.75 2,970,000.00
12/01/98 12/04/98 3 5.4000 9,495,725.00 4,275.00 9,500,000.00
12/01/98 12/02/98 1 5.3000 1,299,808.61 191.39 1,300,000.00
12/02/98 12/09/98 7 5.3200 6,493,276.11 6,723.89 6,500,000.00
12/02/98 12/03/98 1 5.1500 1,299,814.03 185.97 1,300,000.00
12/03/98 12/04/98 1 5.0000 20,597,138.89 2,861.11 20,600,000.00
12/04/98 12/15/98 11 5.1700 11,481,833.19 18,166.81 11,500,000.00
12/04/98 12/07/98 3 4.9800 2,723,869.12 1,130.88 2,725,000.00
12/04/98 12/15/98 11 5.1700 21,965,246.11 34,753.89 22,000,000.00
12/07/98 12/08/98 1 4.9800 12,918,212.73 1,787.27 12,920,000.00
12/07/98 12/14/98 7 5.1200 12,637,406.22 12,593.78 12,650,000.00
12/07/98 12/10/98 3 5.0600 2,998,735.00 1,265.00 3,000,000.00
12/07/98 12/11/98 4 5.0600 12,822,786.69 7,213.31 12,830,000.00
12/08/98 12/09/98 1 4.9500 4,499,381.25 618.75 4,500,000.00
12/09/98 12/11/98 2 4.9700 10,297,156.06 2,843.94 10,300,000.00
12/10/98 12/11/98 1 5.0000 2,524,649.31 350.69 2,525,000.00
12/10/98 12/16/98 6 5.1200 15,986,346.67 13,653.33 16,000,000.00
12/11/98 12/15/98 4 5.1300 17,430,059.20 9,940.80 17,440,000.00
12/11/98 12/16/98 5 5.2200 7,554,519.00 5,481.00 7,560,000.00
12/15/98 12/18/98 3 5.3800 19,991,033.33 8,966.67 20,000,000.00
12/15/98 12/21/98 6 5.3500 9,111,868.00 8,132.00 9,120,000.00
12/15/98 12/22/98 7 5.3500 20,383,773.13 21,226.87 20,405,000.00
12/15/98 12/16/98 1 5.6200 7,673,801.85 1,198.15 7,675,000.00
12/16/98 12/28/98 12 5.2300 9,982,566.67 17,433.33 10,000,000.00
12/16/98 12/17/98 1 5.2000 17,997,400.00 2,600.00 18,000,000.00
12/17/98 12/28/98 11 5.2000 2,451,099.28 3,900.72 2,455,000.00
12/17/98 12/29/98 12 5.2200 19,965,200.00 34,800.00 20,000,000.00
12/17/98 12/18/98 1 5.1500 3,044,564.40 435.60 3,045,000.00
12/18/98 12/23/98 5 5.0700 6,695,282.08 4,717.92 6,700,000.00
12/18/98 12/29/98 11 5.1700 10,982,623.06 17,376.94 11,000,000.00
12/18/98 12/21/98 3 5.0700 3,398,563.50 1,436.50 3,400,000.00
12/18/98 12/21/98 3 5.0700 299,873.25 126.75 300,000.00
12/21/98 12/30/98 9 5.2000 17,477,250.00 22,750.00 17,500,000.00
12/22/98 01/04/99 13 6.3000 1,496,587.50 3,412.50 1,500,000.00
12/22/98 01/05/99 14 6.3000 2,189,622.25 5,377.75 2,195,000.00
12/22/98 01/05/99 14 6.3000 6,399,283.25 15,716.75 6,415,000.00
12/22/98 01/05/99 14 6.3000 3,680,959.50 9,040.50 3,690,000.00
12/23/98 01/05/99 13 6.3000 9,977,250.00 22,750.00 10,000,000.00
12/23/98 01/05/99 13 6.3000 897,952.50 2,047.50 900,000.00
12/28/98 12/29/98 1 5.3000 11,898,248.06 1,751.94 11,900,000.00
12/29/98 12/30/98 1 5.3000 42,493,743.06 6,256.94 42,500,000.00
12/29/98 12/30/98 1 5.3000 1,999,705.56 294.44 2,000,000.00
12/30/98 01/05/99 6 6.3500 27,925,414.29 29,585.71 27,955,000.00
12/30/98 01/04/99 5 6.4000 32,516,071.11 28,928.89 32,545,000.00
12/31/98 01/06/99 6 5.5000 20,980,750.00 19,250.00 21,000,000.00
12/31/98 01/04/99 4 5.7000 2,498,416.67 1,583.33 2,500,000.00
---------------- ---------------- ----------------
CP TOTAL 599,566,480.01 558,519.99 600,125,000.00
---------------- ---------------- ----------------
INDIANA MICHIGAN POWER COMPANY TOTAL 974,041,480.01 811,921.45 974,853,401.46
================ ================ ================
AVERAGE NUMBER OF DAYS 5.34
WEIGHTED AVERAGE RATE 5.4914
</TABLE>
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
KENTUCKY POWER COMPANY
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/07/98 10/28/98 21 5.7900 700,000.00 2,364.25 702,364.25
10/09/98 10/30/98 21 5.5800 13,800,000.00 44,919.00 13,844,919.00
10/14/98 10/20/98 6 5.4800 600,000.00 548.00 600,548.00
10/16/98 10/27/98 11 5.3000 6,000,000.00 9,716.67 6,009,716.67
10/19/98 10/27/98 8 5.3600 3,000,000.00 3,573.33 3,003,573.33
10/23/98 11/02/98 10 5.4100 5,500,000.00 8,265.28 5,508,265.28
10/26/98 11/02/98 7 5.4000 1,050,000.00 1,102.50 1,051,102.50
10/27/98 11/02/98 6 5.5000 8,100,000.00 7,425.00 8,107,425.00
10/28/98 11/02/98 5 5.6500 1,600,000.00 1,255.56 1,601,255.56
10/30/98 11/04/98 5 5.4500 6,900,000.00 5,222.92 6,905,222.92
11/02/98 11/05/98 3 5.8950 21,825,000.00 10,721.53 21,835,721.53
11/04/98 11/12/98 8 5.7000 29,500,000.00 37,366.67 29,537,366.67
11/05/98 11/13/98 8 5.5900 21,100,000.00 26,210.89 21,126,210.89
11/13/98 11/17/98 4 5.5200 9,550,000.00 5,857.33 9,555,857.33
11/13/98 11/20/98 7 5.5200 10,000,000.00 10,733.33 10,010,733.33
11/20/98 11/30/98 10 5.2700 9,700,000.00 14,199.72 9,714,199.72
11/30/98 12/02/98 2 5.3300 5,000,000.00 1,480.56 5,001,480.56
12/07/98 12/14/98 7 5.2422 525,000.00 535.14 525,535.14
12/09/98 12/22/98 13 4.9500 4,250,000.00 7,596.88 4,257,596.88
12/15/98 12/29/98 14 5.4000 850,000.00 1,785.00 851,785.00
12/18/98 12/30/98 12 5.4400 1,500,000.00 2,720.00 1,502,720.00
12/28/98 01/07/99 10 6.8800 3,300,000.00 6,306.67 3,306,306.67
12/29/98 12/30/98 1 5.7300 800,000.00 127.33 800,127.33
12/30/98 01/07/99 8 5.3700 1,550,000.00 1,849.67 1,551,849.67
---------------- ---------------- ----------------
BL TOTAL 166,700,000.00 211,883.23 166,911,883.23
CP 10/01/98 10/19/98 18 5.6300 847,607.25 2,392.75 850,000.00
10/01/98 10/19/98 18 5.6300 1,994,370.00 5,630.00 2,000,000.00
10/02/98 10/21/98 19 5.5800 23,680,056.25 69,943.75 23,750,000.00
10/21/98 11/04/98 14 5.5800 23,299,330.50 50,669.50 23,350,000.00
11/17/98 11/18/98 1 5.6000 7,373,852.78 1,147.22 7,375,000.00
11/18/98 11/19/98 1 5.3500 6,798,989.44 1,010.56 6,800,000.00
11/19/98 11/25/98 6 5.1500 6,194,678.33 5,321.67 6,200,000.00
11/23/98 12/04/98 11 5.3800 4,193,095.67 6,904.33 4,200,000.00
11/24/98 12/08/98 14 5.4000 3,492,650.00 7,350.00 3,500,000.00
11/25/98 12/11/98 16 5.4200 7,980,728.89 19,271.11 8,000,000.00
12/02/98 12/10/98 8 5.2800 4,494,720.00 5,280.00 4,500,000.00
12/04/98 12/09/98 5 5.0000 3,997,222.22 2,777.78 4,000,000.00
12/08/98 12/17/98 9 5.1700 1,997,415.00 2,585.00 2,000,000.00
12/10/98 12/22/98 12 5.1000 1,747,025.00 2,975.00 1,750,000.00
12/11/98 12/31/98 20 5.1700 8,974,150.00 25,850.00 9,000,000.00
12/17/98 12/28/98 11 5.1000 1,198,130.00 1,870.00 1,200,000.00
12/21/98 01/06/99 16 6.3000 3,490,200.00 9,800.00 3,500,000.00
12/22/98 01/05/99 14 6.3000 4,987,750.00 12,250.00 5,000,000.00
12/22/98 01/05/99 14 6.3000 498,775.00 1,225.00 500,000.00
12/31/98 01/08/99 8 5.5000 6,492,055.56 7,944.44 6,500,000.00
---------------- ---------------- ----------------
CP TOTAL 123,732,801.89 242,198.11 123,975,000.00
---------------- ---------------- ----------------
KENTUCKY POWER COMPANY TOTAL 290,432,801.89 454,081.34 290,886,883.23
================ ================ ================
AVERAGE NUMBER OF DAYS 10.05
WEIGHTED AVERAGE RATE 5.5488
</TABLE>
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
KINGSPORT POWER COMPANY
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/02/98 10/09/98 7 5.6600 375,000.00 412.71 375,412.71
10/06/98 10/09/98 3 5.8500 4,900,000.00 2,388.75 4,902,388.75
10/09/98 10/14/98 5 5.5200 4,200,000.00 3,220.00 4,203,220.00
10/14/98 10/16/98 2 5.6500 2,725,000.00 855.35 2,725,855.35
10/16/98 10/21/98 5 5.4000 2,475,000.00 1,856.25 2,476,856.25
10/21/98 10/23/98 2 5.4800 1,600,000.00 487.11 1,600,487.11
10/23/98 11/06/98 14 5.4800 625,000.00 1,331.94 626,331.94
10/27/98 11/04/98 8 5.5000 4,200,000.00 5,133.33 4,205,133.33
11/04/98 11/10/98 6 5.5900 3,200,000.00 2,981.33 3,202,981.33
11/06/98 11/12/98 6 5.4000 325,000.00 292.50 325,292.50
11/10/98 11/12/98 2 5.2200 2,150,000.00 623.50 2,150,623.50
11/12/98 11/13/98 1 5.3400 2,250,000.00 333.75 2,250,333.75
11/13/98 11/17/98 4 5.5200 2,150,000.00 1,318.67 2,151,318.67
11/17/98 11/20/98 3 5.4457 700,000.00 317.67 700,317.67
11/20/98 11/30/98 10 5.3690 150,000.00 223.71 150,223.71
11/25/98 12/04/98 9 5.2000 3,875,000.00 5,037.50 3,880,037.50
12/04/98 12/09/98 5 5.0700 3,200,000.00 2,253.33 3,202,253.33
12/09/98 12/16/98 7 5.1200 1,800,000.00 1,792.00 1,801,792.00
12/16/98 12/29/98 13 5.5000 875,000.00 1,737.85 876,737.85
12/23/98 12/29/98 6 5.3800 3,175,000.00 2,846.92 3,177,846.92
12/29/98 01/07/99 9 6.7500 3,725,000.00 6,285.94 3,731,285.94
---------------- ---------------- ----------------
BL TOTAL 48,675,000.00 41,730.11 48,716,730.11
---------------- ---------------- ----------------
KINGSPORT POWER COMPANY TOTAL 48,675,000.00 41,730.11 48,716,730.11
================ ================ ================
AVERAGE NUMBER OF DAYS 6.05
WEIGHTED AVERAGE RATE 5.5474
</TABLE>
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
OHIO POWER COMPANY
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/01/98 10/06/98 5 5.4500 7,200,000.00 5,450.00 7,205,450.00
10/01/98 10/06/98 5 5.6200 29,500,000.00 23,026.39 29,523,026.39
10/02/98 10/07/98 5 5.5500 3,825,000.00 2,948.44 3,827,948.44
10/06/98 10/16/98 10 5.6600 28,000,000.00 44,022.22 28,044,022.22
10/06/98 10/16/98 10 5.5225 15,000,000.00 23,010.42 15,023,010.42
10/09/98 10/13/98 4 5.3300 13,000,000.00 7,698.89 13,007,698.89
10/09/98 10/13/98 4 5.3300 1,700,000.00 1,006.78 1,701,006.78
10/13/98 10/14/98 1 5.5100 20,500,000.00 3,137.64 20,503,137.64
10/14/98 10/16/98 2 5.5800 10,400,000.00 3,224.00 10,403,224.00
10/15/98 10/16/98 1 5.8500 20,000,000.00 3,250.00 20,003,250.00
10/16/98 10/19/98 3 5.3425 35,000,000.00 15,582.29 35,015,582.29
10/16/98 10/19/98 3 5.3500 15,000,000.00 6,687.50 15,006,687.50
10/16/98 10/21/98 5 5.4200 15,000,000.00 11,291.67 15,011,291.67
10/16/98 10/21/98 5 5.4700 15,000,000.00 11,395.83 15,011,395.83
10/16/98 10/19/98 3 5.5400 18,000,000.00 8,310.00 18,008,310.00
10/19/98 10/20/98 1 5.3375 25,000,000.00 3,706.60 25,003,706.60
10/19/98 10/21/98 2 5.4100 9,400,000.00 2,825.22 9,402,825.22
10/20/98 10/23/98 3 5.4500 50,000,000.00 22,708.33 50,022,708.33
10/20/98 10/22/98 2 5.5875 24,500,000.00 7,605.21 24,507,605.21
10/21/98 10/26/98 5 5.4100 17,000,000.00 12,773.61 17,012,773.61
10/22/98 10/27/98 5 5.3250 13,000,000.00 9,614.58 13,009,614.58
10/23/98 10/28/98 5 5.3750 25,000,000.00 18,663.19 25,018,663.19
10/23/98 10/28/98 5 5.4500 18,100,000.00 13,700.69 18,113,700.69
10/26/98 10/29/98 3 5.3500 35,000,000.00 15,604.17 35,015,604.17
10/26/98 10/29/98 3 5.3200 4,000,000.00 1,773.33 4,001,773.33
10/27/98 10/30/98 3 5.3750 11,500,000.00 5,151.04 11,505,151.04
10/27/98 10/29/98 2 5.4300 1,025,000.00 309.21 1,025,309.21
10/28/98 10/30/98 2 5.2823 17,000,000.00 4,988.84 17,004,988.84
10/28/98 10/30/98 2 5.3750 20,000,000.00 5,972.22 20,005,972.22
10/28/98 11/03/98 6 5.3750 4,500,000.00 4,031.25 4,504,031.25
10/29/98 11/09/98 11 5.6500 30,000,000.00 51,791.67 30,051,791.67
10/29/98 11/09/98 11 5.4500 10,000,000.00 16,652.78 10,016,652.78
10/30/98 11/06/98 7 5.3750 5,800,000.00 6,061.81 5,806,061.81
11/04/98 11/10/98 6 5.5565 16,500,000.00 15,280.38 16,515,280.38
11/04/98 11/12/98 8 5.4700 1,900,000.00 2,309.56 1,902,309.56
11/06/98 11/13/98 7 5.4500 1,300,000.00 1,377.64 1,301,377.64
11/09/98 11/12/98 3 5.4600 23,000,000.00 10,465.00 23,010,465.00
11/10/98 11/16/98 6 5.3750 19,000,000.00 17,020.83 19,017,020.83
11/10/98 11/16/98 6 5.5200 5,000,000.00 4,600.00 5,004,600.00
11/12/98 11/16/98 4 5.4500 23,000,000.00 13,927.78 23,013,927.78
11/16/98 11/18/98 2 5.8125 19,000,000.00 6,135.42 19,006,135.42
11/16/98 11/18/98 2 5.4600 23,000,000.00 6,976.67 23,006,976.67
11/18/98 11/20/98 2 5.0900 25,000,000.00 7,069.44 25,007,069.44
11/18/98 11/19/98 1 5.0800 13,000,000.00 1,834.44 13,001,834.44
11/19/98 11/23/98 4 4.8388 3,000,000.00 1,612.93 3,001,612.93
12/11/98 12/14/98 3 5.1556 1,250,000.00 537.04 1,250,537.04
12/14/98 12/17/98 3 5.3457 2,725,000.00 1,213.92 2,726,213.92
12/16/98 12/18/98 2 5.2100 25,000,000.00 7,236.11 25,007,236.11
---------------- ---------------- ----------------
BL TOTAL 769,625,000.00 471,572.98 770,096,572.98
CP 10/02/98 10/16/98 14 5.5800 49,891,500.00 108,500.00 50,000,000.00
10/02/98 10/16/98 14 5.5800 9,978,300.00 21,700.00 10,000,000.00
10/05/98 10/09/98 4 5.7000 12,991,766.67 8,233.33 13,000,000.00
10/30/98 11/05/98 6 5.8500 29,970,750.00 29,250.00 30,000,000.00
10/30/98 11/06/98 7 5.8500 19,977,250.00 22,750.00 20,000,000.00
11/02/98 11/04/98 2 6.0500 15,494,790.28 5,209.72 15,500,000.00
11/05/98 11/13/98 8 5.6700 31,959,680.00 40,320.00 32,000,000.00
11/06/98 11/13/98 7 5.6300 21,476,463.47 23,536.53 21,500,000.00
11/09/98 11/12/98 3 5.5300 16,492,396.25 7,603.75 16,500,000.00
11/09/98 11/12/98 3 5.5300 799,631.33 368.67 800,000.00
11/12/98 11/16/98 4 5.5500 20,487,358.33 12,641.67 20,500,000.00
11/13/98 11/17/98 4 5.5600 4,497,220.00 2,780.00 4,500,000.00
11/13/98 11/17/98 4 5.5600 1,099,320.44 679.56 1,100,000.00
11/13/98 11/17/98 4 5.5600 49,969,111.11 30,888.89 50,000,000.00
11/16/98 11/18/98 2 6.1000 26,990,850.00 9,150.00 27,000,000.00
11/18/98 11/20/98 2 5.2500 24,992,708.33 7,291.67 25,000,000.00
11/20/98 11/24/98 4 5.0300 15,221,488.12 8,511.88 15,230,000.00
11/20/98 11/25/98 5 5.1000 46,237,225.42 32,774.58 46,270,000.00
11/20/98 11/23/98 3 4.9000 29,987,750.00 12,250.00 30,000,000.00
11/20/98 11/23/98 3 4.9000 1,199,510.00 490.00 1,200,000.00
11/23/98 11/30/98 7 5.2500 26,972,437.50 27,562.50 27,000,000.00
11/24/98 11/30/98 6 5.2000 11,989,600.00 10,400.00 12,000,000.00
11/24/98 11/25/98 1 4.9500 2,599,642.50 357.50 2,600,000.00
11/25/98 11/30/98 5 5.1500 35,974,250.00 25,750.00 36,000,000.00
11/25/98 11/30/98 5 5.1500 15,988,555.56 11,444.44 16,000,000.00
11/30/98 12/01/98 1 5.8000 11,748,106.94 1,893.06 11,750,000.00
11/30/98 12/03/98 3 5.7000 49,976,250.00 23,750.00 50,000,000.00
11/30/98 12/03/98 3 5.7000 28,986,225.00 13,775.00 29,000,000.00
12/01/98 12/07/98 6 5.3500 7,783,053.92 6,946.08 7,790,000.00
12/01/98 12/02/98 1 5.3000 1,749,742.36 257.64 1,750,000.00
12/01/98 12/09/98 8 5.3500 5,203,805.89 6,194.11 5,210,000.00
12/02/98 12/03/98 1 5.1500 1,299,814.03 185.97 1,300,000.00
12/03/98 12/04/98 1 5.0000 49,993,055.56 6,944.44 50,000,000.00
12/03/98 12/04/98 1 5.0000 29,995,833.33 4,166.67 30,000,000.00
12/04/98 12/16/98 12 5.1700 32,943,130.00 56,870.00 33,000,000.00
12/07/98 12/08/98 1 4.9500 12,098,336.25 1,663.75 12,100,000.00
12/08/98 12/11/98 3 5.0000 8,621,406.25 3,593.75 8,625,000.00
12/10/98 12/11/98 1 5.0000 1,964,727.08 272.92 1,965,000.00
12/10/98 12/16/98 6 5.1200 48,993,156.80 41,843.20 49,035,000.00
12/11/98 12/15/98 4 5.2000 3,373,050.00 1,950.00 3,375,000.00
12/11/98 12/16/98 5 5.2000 8,618,770.83 6,229.17 8,625,000.00
12/15/98 12/22/98 7 5.3500 24,973,993.06 26,006.94 25,000,000.00
12/15/98 12/16/98 1 5.6200 22,896,425.06 3,574.94 22,900,000.00
12/16/98 12/17/98 1 5.1500 49,992,847.22 7,152.78 50,000,000.00
12/17/98 12/28/98 11 5.1800 19,968,344.44 31,655.56 20,000,000.00
12/17/98 12/29/98 12 5.1800 12,977,553.33 22,446.67 13,000,000.00
12/18/98 12/28/98 10 5.1500 23,466,381.94 33,618.06 23,500,000.00
12/21/98 12/23/98 2 5.0500 1,599,551.11 448.89 1,600,000.00
12/21/98 12/23/98 2 5.0500 29,991,583.33 8,416.67 30,000,000.00
12/22/98 12/31/98 9 5.2000 17,477,250.00 22,750.00 17,500,000.00
12/23/98 01/05/99 13 6.3000 21,949,950.00 50,050.00 22,000,000.00
12/23/98 01/05/99 13 6.3000 18,457,912.50 42,087.50 18,500,000.00
12/28/98 01/04/99 7 6.2500 32,460,503.47 39,496.53 32,500,000.00
12/31/98 01/05/99 5 5.5000 6,000,412.85 4,587.15 6,005,000.00
12/31/98 01/05/99 5 5.5000 43,966,388.89 33,611.11 44,000,000.00
---------------- ---------------- ----------------
CP TOTAL 1,152,767,116.75 962,883.25 1,153,730,000.00
---------------- ---------------- ----------------
OHIO POWER COMPANY TOTAL 1,922,392,116.75 1,434,456.23 1,923,826,572.98
================ ================ ================
AVERAGE NUMBER OF DAYS 4.71
WEIGHTED AVERAGE RATE 5.4325
</TABLE>
<PAGE>
<TABLE>
AMERICAN ELECTRIC POWER SERVICE CORPORATION
CASH MANAGEMENT SYSTEM
<CAPTION>
QUARTERLY SHORT TERM DEBT REPORT
WHEELING POWER COMPANY
QUARTER ENDED 12/31/98
SHORT TERM ISSUE MATURITY INTEREST PRINCIPAL
DEBT TYPE DATE DATE DAYS RATE % BORROWED INTEREST MATURITY VALUE
---------- -------- -------- ---- -------- ---------------- ---------------- ----------------
<S> <C> <C> <C> <C> <C> <C> <C>
BL 10/06/98 10/09/98 3 5.6400 3,925,000.00 1,844.75 3,926,844.75
10/09/98 10/14/98 5 5.5800 3,350,000.00 2,596.25 3,352,596.25
10/14/98 10/16/98 2 5.5800 1,500,000.00 465.00 1,500,465.00
10/26/98 11/06/98 11 5.4500 3,800,000.00 6,328.06 3,806,328.06
11/02/98 11/05/98 3 5.4700 100,000.00 45.58 100,045.58
11/06/98 11/10/98 4 5.0922 3,750,000.00 2,121.75 3,752,121.75
11/10/98 11/12/98 2 5.0922 3,175,000.00 898.21 3,175,898.21
11/12/98 11/13/98 1 5.2190 3,175,000.00 460.29 3,175,460.29
11/13/98 11/17/98 4 5.2190 2,900,000.00 1,681.68 2,901,681.68
11/17/98 11/20/98 3 5.3457 2,200,000.00 980.05 2,200,980.05
11/20/98 12/04/98 14 5.2690 2,000,000.00 4,098.11 2,004,098.11
11/25/98 11/30/98 5 5.2100 2,300,000.00 1,664.31 2,301,664.31
11/30/98 12/09/98 9 5.3300 2,175,000.00 2,898.19 2,177,898.19
12/04/98 12/11/98 7 5.1422 1,775,000.00 1,774.77 1,776,774.77
12/09/98 12/16/98 7 5.1200 1,700,000.00 1,692.44 1,701,692.44
12/11/98 12/18/98 7 5.2056 1,600,000.00 1,619.52 1,601,619.52
12/15/98 12/23/98 8 5.4500 825,000.00 999.17 825,999.17
12/16/98 12/30/98 14 5.5000 1,600,000.00 3,422.22 1,603,422.22
12/18/98 12/28/98 10 5.2056 1,575,000.00 2,277.45 1,577,277.45
12/28/98 01/07/99 10 6.8800 3,750,000.00 7,166.67 3,757,166.67
12/30/98 01/08/99 9 5.6900 1,225,000.00 1,742.56 1,226,742.56
12/31/98 01/04/99 4 6.2000 250,000.00 172.22 250,172.22
---------------- ---------------- ----------------
BL TOTAL 48,650,000.00 46,949.25 48,696,949.25
---------------- ---------------- ----------------
WHEELING POWER COMPANY TOTAL 48,650,000.00 46,949.25 48,696,949.25
================ ================ ================
AVERAGE NUMBER OF DAYS 6.45
WEIGHTED AVERAGE RATE 5.4527
</TABLE>
