Southern Company Chairman Reviews Strong Performance, Future Plans at Annual Shareholder Meeting

ATLANTA, May 28 /PRNewswire-FirstCall/ -- Southern Company Chairman and Chief Executive Officer David Ratcliffe today gave shareholders an overview of the company's 2007 performance while outlining future plans.

"Safety, reliability, affordability and customer service are the fundamentals of our business," he said. "The excellent performance across our business along with the continued economic expansion of our region, provided you, our shareholders, good solid financial growth in 2007."

Ratcliffe made the remarks at Southern Company's 2008 Annual Meeting of Stockholders, which took place this morning at Callaway Gardens in Pine Mountain, Ga. At the meeting, Ratcliffe reported on Southern Company business issues and future plans. Also, shareholders elected the company's Board of Directors and voted on other matters.

Ratcliffe noted Southern Company's long track record of consistent dividend payments.

"We continued our record of consecutive dividend payments, which now stands at 242 quarters, or 60 years," he said. "And last month we raised the dividend 7 cents to $1.68 per year. That marked our seventh straight year - from 2001 to 2008 - of a dividend increase, representing 25 percent growth over that period for our shareholders. Over the past 10 years, and even over the past 30 years, our stock has outperformed the Standard and Poor's 500 Index for total shareholder return."

Speaking on environmental issues, including climate change, Ratcliffe said Southern Company will continue to work with Congress, the administration, and other stakeholders to achieve a policy guided by common sense.

"As the debate on policy to address the global issue of climate change continues, the policy that is eventually adopted must consider how best to balance our desire for reduced greenhouse gas emissions with our desire for a strong economy and reliable supplies of electricity," Ratcliffe said. "We will continue to inform this process with the best science and economic analysis we can generate. At the same time, we will deliver solutions for our customers that achieve their desire for reliable, affordable and cleaner electricity."

With nearly 4.4 million customers and more than 42,000 megawatts of generating capacity, Atlanta-based Southern Company is the premier energy company serving the Southeast, one of America's fastest-growing regions. A leading U.S. producer of electricity, Southern Company owns electric utilities in four states and a growing competitive generation company, as well as fiber optics and wireless communications. Southern Company brands are known for excellent customer service, high reliability and retail electric prices that are significantly below the national average. Southern Company has been listed the top ranking U.S. electric service provider in customer satisfaction for nine consecutive years by the American Customer Satisfaction Index (ACSI). Visit our Web site at http://www.southerncompany.com/ .