Coal

Former Enron trader John Forney arrested

Current employer AEP says his arrest not related to company activities

COLUMBUS, Ohio, June 3, 2003 — The arrest Tuesday of an employee in American Electric Power’s commercial operations is not related to actions during his 15 months with AEP.

John M. Forney was arrested by FBI agents this morning and charged for conduct related to actions when he was an Enron employee.

“The arrest is related to a period of time prior to March 1, 2002, when he joined AEP,” said Jeffrey Cross, AEP general counsel. “We have no reason to believe Mr. Forney was involved in any inappropriate activities while with AEP.”

Forney was placed on administrative leave after the arrest. He has held a variety of non-executive positions in AEP’s commercial organization since joining the company. Most recently he was engaged in fuel procurement and logistics for the delivery of coal to AEP’s power plants.

American Electric Power owns and operates more than 42,000 megawatts of generating capacity in the United States and select international markets and is the largest electricity generator in the U.S. AEP is also one of the largest electric utilities in the United States, with almost 5 million customers linked to AEP’s 11-state electricity transmission and distribution grid. The company is based in Columbus, Ohio.