Georgia Power names Harreld to CFO post

ATLANTA, June 23, 2003 — C.B. (Mike) Harreld has been named chief financial officer for Georgia Power Co., effective June 30, 2003.

He is replacing Allen Leverett, who was recently named chief financial officer of Wisconsin Energy headquartered in Milwaukee. In his new role, Harreld, 58, will also hold the titles of executive vice president and treasurer of Georgia Power, the state’s largest utility.

“Mike spent a good part of his career at Georgia Power as a senior executive involved in many important financial decisions. He clearly understands our business,” said David Ratcliffe, Georgia Power president and chief executive officer. “Since his time here, he has added international experience at South Western Electricity (SWEB) and additional financial experience. Mike brings back to us a wealth of talent, and we are delighted to have him back.”

Harreld’s most recent position was senior vice president, finance and treasurer of Southern Company Services. In that role, he had the responsibility for financial planning and analysis, capital markets and leasing, treasury and investor relations.

Previously, Harreld served as chief financial officer and comptroller of Southern Company Generation and Energy Marketing, the company’s generation and energy trading organization. In addition, Harreld was CFO and comptroller of Southern Power Company, a subsidiary of Southern Company, which owns, manages and finances the company’s competitive generation assets. He also served as CFO of Mirant Corporation’s (formerly Southern Energy’s) Europe Group in Amsterdam, The Netherlands.

Harreld joined Southern Company in 1982, serving as vice president, comptroller and chief accounting officer of Georgia Power. In 1995, he was named finance director of SWEB in Bristol, England, an affiliate of Southern Company. Four years later he was appointed senior vice president and controller of Southern Energy’s North America group and Southern Energy’s corporate controller.

A native of Owensboro, Ky., Harreld earned a bachelor’s degree in commerce from the University of Kentucky and a master’s degree in accounting from the University of Missouri. He also attended Stanford University’s Executive Management Program. Before joining Southern Company, Harreld worked for Arthur Andersen in St. Louis and Atlanta. Harreld plans to continue his involvement with the Atlanta Metropolitan YMCA by serving on the Metro Board of Directors, having previously served on the Ashford-Dunwoody YMCA Board and the Camp High Harbour Board.

Georgia Power is the largest subsidiary of Southern Company (NYSE: SO – News), one of the nation’s largest generators of electricity. The company is an investor-owned, tax-paying utility, serving customers in 57,000 of the state’s 59,000 square miles. Georgia Power’s rates are more than 15 percent below the national average, and its 2 million customers are in all but six of Georgia’s 159 counties.

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