SWEPCO                  Southwestern Electric Power Company
                        A Central and South West Company

                               News Release


FOR IMMEDIATE RELEASE                                               Exhibit 99.1
CONTACTS:  Peter Main for SWEPCO, 318-673-3530
            Melanie Rovner Cohen for the Committee, 312-715-4040
            John Sharp for the Committee, 225-755-1060

                  SWEPCO, Committee, WST Increase Proposed Purchase Price
                          in Cajun Electric Bankruptcy

      SHREVEPORT,  LA (June 23, 1999) - Southwestern Electric Power Company, the
Committee of Certain Members and  Washington-St.  Tammany  Electric  Cooperative
have increased the proposed  purchase price in their joint  reorganization  plan
for Cajun Electric Power Cooperative.

      The base bid has been  increased  to $990.5  million  in a plan  amendment
filed June 22. The  previous  bid of $940.5  million was  submitted on April 16,
1999. The plan calls for an affiliate of SWEPCO to acquire  Cajun's  non-nuclear
assets and provide  power to  cooperatives  through new,  consensual,  long-term
power supply agreements.

      The new bid exceeds the rival  Louisiana  Generating bid by $30.5 million.

      The increase in purchase  price is funded  partially by a rate  adjustment
agreed to  by  the  eight distribution cooperatives that support the joint plan.
Rates  under  the  amended  plan  remain  below  the  level  found  to  be  "not
presumptively  unreasonable"  by the  Louisiana  Public  Service Commission. The
revised  rates remain below those proposed by rival Louisiana Generating.

      The  competing   reorganization  plans  are  subject  to  confirmation  by
Bankruptcy Court and regulatory approvals.  Confirmation hearings are under way,
scheduled through June 25, in U.S. Bankruptcy Court in Opelousas, La.

   The Committee of Certain Members includes  Beauregard  Electric  Cooperative,
   Inc., Dixie Electric Membership Corp.,  Jefferson Davis Electric Cooperative,
   Inc.,  Northeast Louisiana Power Cooperative,  Inc., South Louisiana Electric
   Cooperative Association and Valley Electric Membership Corp.

   Washington-St.Tammany Electric Cooperative, Inc. (WST) is a co-proponent with
   SWEPCO and the Committee.

      Claiborne  Electric  Cooperative,  Inc.  which  is  not  a  membe  of  the
Committee, also supports the SWEPCO/Committee/WST plan.

      Southwestern Electric Power Co., based in Shreveport, La., is a subsidiary
of  Central and  South  West Corp. (NYSE: CSR), a  Dallas-based  public  utility
holding company.

                                                                           # # #