Investor Fact Sheet

A Super-Regional Powerhouse

With 4.4 million customers, more than 42,000 megawatts of generating capacity in service or under construction, and a growing competitive generation business, Southern Company is a major source of energy in the southeastern U.S.

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Our Major Businesses

Traditional Operating Companies
Our strong base of transmission, distribution, approximately 35,000 megawatts of regulated generation and more than 5,500 megawatts of wholesale generation serving retail customers through purchase power agreements. Plans for added capacity through 2017 to meet demand and maintain reliablilty.

Southern Power
Our competitive generation business, our growth business, has approximately 7,500 megawatts of generating capacity in commercial operation dedicated to serving the competitive wholesale market outside of our service territory.

"By successfully executing a clear strategy, we have produced solid risk-adjusted returns for our shareholders over the long term and served our customers well."
– David Ratcliffe, Chairman, President & CEO

Strong Financial Performance

Total Shareholder Return
Five-Year 8.9%
Ten-Year 12.9%
Thirty-Year 15.9%
Annualized returns for periods ending December 31, 2008. Source: Bloomberg; assumes all dividends are reinvested and returns are compounded monthly. Bloomberg adjusts the historical Southern Company stock prices prior to the spinoff of Mirant Corporation based on Mirant Corporation value at the time of the spinoff.

Dividend

• Currently $1.75 per share annually.
• 4.2% increase in April 2009, marking 8th consecutive year of dividend increases.
• 246 consecutive quarters, more than 60 years, of dividend payments.

Financial Integrity
Goal of achieving an attractive risk-adjusted return, supported by a simple, transparent business model, sound financial policy, and stable 'A' credit rating.

Southern Company as an Investment

• Premier super-regional energy company focused on the Southeast.
• Experienced management knows how to create and deliver value.
• Outperformed the S&P 500 Index for total shareholder return in 5-year, 10-year and 30-year periods ended December 31, 2008.

Goals For Our Major Businesses

Strive to remain among the leaders in our industry, a reliable energy provider for our customers, and a solid investment for our shareholders.

Awards and Recognition

• FORTUNE Magazine
  "America's Most Admired" Electric and Gas Utility 2002, 2003, 2004
• American Customer Satisfaction Index
  Highest ranked electric utility for 9 consecutive years. 2000, 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008
• J.D. Power and Associates
  Highest ranked overall customer satisfaction for electric service to business customers in South 2000, 2001, 2002, 2003, 2004, 2005
  Highest ranked overall customer satisfaction for electric service to residential customers in South 2001, 2004, 2006
• Electric Light & Power Magazine
  Utility of the Year 2003
• Global Finance Magazine
  "Best Companies in North America"
  Energy services/electricity sector 2005

Southern Company
30 Ivan Allen Blvd. NW
Atlanta, Georgia 30308
(404) 506-5000

NYSE ticker symbol - SO
Direct Stock Purchase
Southern Investment Plan - (800) 554-7626
Stockholder Services - (800) 554-7626