AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES QUARTERLY REPORT PER REQUIREMENTS OF HOLDING COMPANY ACT RELEASE NO. 26864 FOR THE QUARTER ENDED DECEMBER 31, 2001 1) Aggregate Investment, for which there is recourse to AEP Co., Inc., in Exempt Wholesale Generators (EWG) and Foreign Utility Companies (FUCO) EWG Investment $ 156,094,000 FUCO Investment 2,054,435,000 -------------- Total Aggregate Investment in EWG's and FUCO's $2,210,529,000 ============== Components of statement of aggregate investment in EWG and FUCO's are filed under confidential treatment pursuant to Rule 104(b). 2) Aggregate Investment as a Percentage of the Following Items (in millions) % Total Capitalization $24,664* 9.0% Net Utility Plant 19,711 11.2% Total Assets 47,019 4.7% Market Value of Common Equity 14,027 15.8% *Includes Long-term Debt Due Within One Year and Short-term Debt. 3) Consolidated Capitalization Ratio (in millions) % Short-term Debt $ 3,155 Long-term Debt 12,053* ------- Total Debt 15,208 61.7% ------- Certain Subsidiary Obligated, Mandatorily Redeemable, Preferred Securities of Subsidiary Trusts Holding Solely Junior Subordinated Debentures of Such Subsidiaries 321 1.3% ------- Minority Interest in Finance Subsidiary 750 3.0% ------- Preferred Stock 156 0.6% ------- Common Stock 2,153 Paid-in Capital 2,906 Accumulated Other Comprehensive Income (126) Retained Earnings 3,296 ------- Total Common Equity 8,229 33.4% ------- Total Capitalization $24,664 100.0% ======= * Includes Long-term Debt Due Within One Year. AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIARY COMPANIES QUARTERLY REPORT PER REQUIREMENTS OF HOLDING COMPANY ACT RELEASE NO. 26864 FOR THE QUARTER ENDED DECEMBER 31, 2001 4) Market-to-book Ratio of AEP Common Stock Closing Market Price per Share $43.53 Book Value per Share $25.54 Market-to-book Ratio of Common Stock 170.4% 5) Analysis of Growth in Retained Earnings Statement of analysis of growth in retained earnings is filed under confidential treatment pursuant Rule 104(b). 6) Statement of Revenues and Net Income for each EWG and FUCO Statement of revenues and net income for the following EWG's and FUCO's are filed under confidential treatment pursuant to Rule 104(b): CitiPower Pty. Nanyang General Light Electric Co., Ltd. Pacific Hydro Ltd. AEP Energy Services Limited InterGen Denmark, Aps AEP Energy Services UK Generation Limited (AEPESUK)(a) CSW International Two, Inc. CSW Vale L.L.C. South Coast Power Limited Trent Wind Farm, Limited Partnership Newgulf Power Venture, Inc.