OLAV & Co., Inc. completes data conversion for AEP

HOPKINTON, Mass., May 7, 2003 — OLAV & Co., Inc., a provider of data conversion products and services, announced that it has completed a data conversion effort for the largest power generator in the U.S., American Electric Power (AEP). The effort moved data from legacy AEP supply and purchasing applications to AEP’s enterprise asset management (EAM) software.

The conversion allows all of AEP’s Energy Delivery Supply Chain (EDSC) personnel to use AEP’s EAM software, which is fully integrated across all non-nuclear business units.

Using OLAV’s products and methodology, AEP business experts teamed with OLAV consultants to document complex conversion requirements and quickly incorporate those requirements into transformation and conversion software. This rapid incorporation allowed the project team to perform several test conversions, thereby refining conversion requirements and garnering early end-user input and acceptance.

“We have enjoyed multiple successful data conversion projects with OLAV, but the Energy Delivery Supply Chain conversion was easily our smoothest conversion to our EAM software,” said Michael DeLoach, AEP EAS Project Manager.

According to President Eric W. Jonassen, OLAV & Co., Inc. is pleased to be a part of the success of the AEP EDSC project. “OLAV takes pride in working closely with its clients to develop a detailed project plan and then following through to deliver a high quality data conversion on time and under budget,” added Jonassen.

OLAV & Co., Inc. is a provider of data conversion products and services. Its staff of twelve highly trained professionals has a combined 198 years of experience in software system design and implementation. Over the past eight years, OLAV & Co., Inc. has helped a number of Fortune 500 companies with the initial implementation, modification, conversion, and migration of their Enterprise Asset Management (EAM) systems. OLAV’s data conversion methodologies and software tools provide significant cost savings for any large EAM or ERP system implementation or upgrade. For more information, visit www.olav.com.

American Electric Power (NYSE: AEP) owns and operates more than 42,000 megawatts of generating capacity in the United States and select international markets. It is the largest electricity generator in the U.S. and is also one of the largest electric utilities in the United States with nearly 5 million customers linked to AEP´s 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio. More information is available at www.aep.com.