Gulf Power Announces Planned Redemption of Series I 5.75% Senior Notes Due September 15, 2033 and Series J 5.875% Senior Notes D

PENSACOLA, Fla., Sept. 14 /PRNewswire-FirstCall/ -- Gulf Power Company today announced the planned redemption on October 14, 2010 of all $40 million aggregate principal amount of its Series I 5.75% Senior Notes due September 15, 2033 and all $35 million aggregate principal amount of its Series J 5.875% Senior Notes due April 1, 2044.

The redemption price for the full redemption of the Series I 5.75% Senior Notes due September 15, 2033 (NYSE Symbol: GUI) and Series J 5.875% Senior Notes due April 1, 2044 (NYSE Symbol: GUQ) will be 100% of the principal amount thereof ($25 per senior note), plus accrued and unpaid interest to the date of redemption.

As trustee, The Bank of New York Mellon is expected to notify each registered holder by first class mail on or about September 15, 2010.  The Bank of New York Mellon is located at 101 Barclay Street, 1st Floor East, New York, New York 10286.

Gulf Power is a subsidiary of Southern Company, one of the nation's largest generators of electricity.  The company is an investor-owned, tax-paying utility, serving 71 towns and communities in Northwest Florida. Gulf Power has some of the lowest electricity rates in the Southeast and nationwide.

SOURCE Gulf Power Company

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