Document:

Exhibit 4.4

                              GEORGIA POWER COMPANY
                                       TO
                              JPMORGAN CHASE BANK,
                                     TRUSTEE

                             -----------------------

                          FOURTH SUPPLEMENTAL INDENTURE

                          DATED AS OF NOVEMBER 6, 2002
                             -----------------------

                                  $309,279,000

                       SERIES F JUNIOR SUBORDINATED NOTES

                              DUE NOVEMBER 1, 2042

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TABLE OF CONTENTS1

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ARTICLE 1 - Series F Junior Subordinated Notes....................................................................2
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   SECTION 101    Establishment...................................................................................2
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   SECTION 102    Definitions.....................................................................................2
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   SECTION 103    Payment of Principal and Interest...............................................................8
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   SECTION 104    Deferral of Interest Payments...................................................................9
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   SECTION 105    Denominations..................................................................................10
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   SECTION 106    Global Securities..............................................................................10
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   SECTION 107    Transfer.......................................................................................11
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   SECTION 108    Redemption.....................................................................................11
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ARTICLE 2 - Distribution Procedures..............................................................................11
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   SECTION 201    Distributions..................................................................................12
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   SECTION 202    Distribution Rate..............................................................................13
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   SECTION 203    Distribution Periods...........................................................................15
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ARTICLE 3 - Remarketing Procedures...............................................................................15
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   SECTION 301    Election to Remarket...........................................................................15
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   SECTION 302    Notice of Election.............................................................................16
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   SECTION 303    Determination of Distribution Rate.............................................................17
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   SECTION 304           Remarketing Agent.......................................................................18
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ARTICLE 4 - Miscellaneous Provisions.............................................................................18
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   SECTION 401    Recitals by Company............................................................................18
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   SECTION 402    Ratification and Incorporation of Original Indenture...........................................18
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   SECTION 403    Executed in Counterparts.......................................................................18
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EXHIBIT A.......................................................................................................A-1
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_____________________________
1      This Table of Contents does not constitute part of the Indenture or have any bearing upon the interpretation
       of any of its terms and provisions.

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                  THIS FOURTH SUPPLEMENTAL INDENTURE is made as of the 6th day
of November, 2002, by and between GEORGIA POWER COMPANY, a Georgia corporation,
241 Ralph McGill Boulevard N.E., Atlanta, Georgia 30308-3374 (the "Company"),
and JPMORGAN CHASE BANK, a New York banking corporation, 450 West 33rd Street,
New York, New York 10001, as trustee (the "Trustee").

                              W I T N E S S E T H:

                  WHEREAS, the Company has heretofore entered into a
Subordinated Note Indenture, dated as of June 1, 1997 (the "Original Indenture")
with JPMorgan Chase Bank (formerly known as The Chase Manhattan Bank), as
trustee, as heretofore supplemented;

                  WHEREAS, the Original Indenture is incorporated herein by this
reference and the Original Indenture, as heretofore supplemented and as further
supplemented by this Fourth Supplemental Indenture is herein called the
"Indenture";

                  WHEREAS, under the Original Indenture, a new series of Junior
Subordinated Notes may at any time be established pursuant to a supplemental
indenture executed by the Company and the Trustee;

                  WHEREAS, the Company proposes to create under the Indenture a
new series of Junior Subordinated
Notes;

                  WHEREAS, additional Junior Subordinated Notes of other series
hereafter established, except as may be limited in the Original Indenture as at
the time supplemented and modified, may be issued from time to time pursuant to
the Indenture as at the time supplemented and modified; and

                  WHEREAS, all conditions necessary to authorize the execution
and delivery of this Fourth Supplemental Indenture and to make it a valid and
binding obligation of the Company have been done or performed.

                  NOW, THEREFORE, in consideration of the agreements and
obligations set forth herein and for other good and valuable consideration, the
sufficiency of which is hereby acknowledged, the parties hereto hereby agree as
follows:

                                    ARTICLE 1

                       Series F Junior Subordinated Notes

                  SECTION 101.    Establishment.
                                  -------------

                  There is hereby established a new series of Junior
Subordinated Notes to be issued under the Indenture, to be designated as the
Company's Series F Junior Subordinated Notes due November 1, 2042 (the "Series F
Notes").

                  There are to be authenticated and delivered $309,279,000
aggregate principal amount of Series F Notes, and no further Series F Notes
shall be authenticated and delivered except as provided by Sections 203, 303,
304, 907 or 1107 of the Original Indenture. The Series F Notes shall be issued
in definitive fully registered form.

                  The Series F Notes shall be in substantially the form set out
in Exhibit A hereto. The entire principal amount of the Series F Notes shall
initially be evidenced by one certificate issued to the Property Trustee of
Georgia Power Capital Trust VI.

                  The form of the Trustee's Certificate of Authentication for
the Series F Notes shall be in substantially the form set forth in Exhibit A
hereto.

                  Each Series F Note shall be dated the date of authentication
thereof and shall bear interest from the date of original issuance thereof or
from the most recent Interest Payment Date to which interest has been paid or
duly provided for.

                  SECTION 102.    Definitions.
                                  -----------

                  The following defined terms used herein shall, unless the
context otherwise requires, have the meanings specified below. Capitalized terms
used herein for which no definition is provided herein shall have the meanings
set forth in the Original Indenture.

                  "Administrative Trustee" means each of the individuals
identified as an "Administrative Trustee" in the Trust Agreement.

                  "Bankruptcy Event" means, with respect to any Person:

                           (i) the entry of a decree or order by a court having
                  jurisdiction in the premises judging such Person a bankrupt or
                  insolvent, or approving as properly filed a petition seeking
                  reorganization, arrangement, adjudication or composition of or
                  in respect of such Person under federal bankruptcy law or any
                  other applicable federal or state law, or appointing a
                  receiver, liquidator, assignee, trustee, sequestrator or other
                  similar official of such Person or of any substantial part of
                  its property, or ordering the winding up or liquidation of its
                  affairs, and the continuance of such decree or order unstayed
                  and in effect for a period of 60 consecutive days; or

                           (ii) the institution by such Person of proceedings to
                  be adjudicated a bankrupt or insolvent, or the consent by it
                  to the institution of bankruptcy or insolvency proceedings
                  against it, or the filing by it of a petition or answer or
                  consent seeking reorganization or relief under federal
                  bankruptcy law or any other applicable federal or state law,
                  or the consent by it to the filing of such petition or to the
                  appointment of a receiver, liquidator, assignee, trustee,
                  sequestrator or similar official of such Person or of any
                  substantial part of its property, or the making by it of an
                  assignment for the benefit of creditors, or the admission by
                  it in writing of its inability to pay its debts generally as
                  they become due, or the taking of action by such Person in
                  furtherance of any such action.

                  "Business Day" means a day other than (i) a Saturday or a
Sunday, (ii) a day on which banks in New York, New York are authorized or
obligated by law or executive order to remain closed, (iii) a day on which the
Corporate Trust Office or the Indenture Trustee's principal corporate trust
office is closed for business or (iv) a day on which the New York Stock Exchange
is closed.

                  "Calculation Agent" means JPMorgan Chase Bank, its successors
and assigns, or such other bank or trust company appointed to such capacity by
the Company and the Administrative Trustees.

                  "Calculation Agent Agreement" means the agreement among the
Company, the Trust and JPMorgan Chase Bank, as calculation agent, dated as of
November 6, 2002.

                  "Clearing Agency" means an organization registered as a
"clearing agency" pursuant to Section 17A of the Exchange Act. The Depository
Trust Company will be the initial Clearing Agency.

                  "Code" means the Internal Revenue Code of 1986, as amended.

                  "Company" means Georgia Power Company.

                  "Deferred Interest" means each installment of interest not
paid during any Extension Period, and interest thereon. Deferred installments of
interest shall bear interest at the rate of the prevailing Interest Rate per
annum from the applicable Interest Payment Date to the date of payment,
compounded on each Interest Payment Date.

                  "Definitive Preferred Securities Certificates" means Preferred
Securities Certificates issued in certificated, fully registered form as
provided in the Trust Agreement.

                  "Distribution Payment Date" means each day on which
Distributions are payable on the Preferred Securities determined based on the
prevailing Distribution Rate.

                  "Distribution Period" means each semiannual period in a Fixed
Rate Period and each quarterly period in a Floating Rate Period for which
Distributions are payable on the Trust Securities.

                  "Distribution Rate" means the rate at which Distributions will
accrue on the Trust Securities.

                  "Distributions" means amounts payable in respect of the
Preferred Securities pursuant to Section 4.01 of the Trust Agreement.

                  "Election Date" means a date that is no later than the fifth
Business Day prior to the proposed Remarketing Date.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

                  "Extension Period" means any period during which the Company
has elected to defer payments of interest on the Series F Notes, which deferral
may be for a period of up to five years.

                   "Fixed Rate" means the Distribution Rate during a Fixed Rate
Period as determined by a Remarketing.

                  "Fixed Rate Period" means the Initial Fixed Rate Period and
each period set by the Company and the Administrative Trustees during a
Remarketing for which the Fixed Rate determined in such Remarketing will apply;
provided, however, that a Fixed Rate Period must be for a duration of at least
six months, may not extend beyond the stated maturity of the Series F Notes and
may not end on a day other than a day immediately preceding a Distribution
Payment Date.

                  "Floating Rate" means 3-month LIBOR plus 3.05%, reset
quarterly.

                  "Floating Rate Determination Date" means the second London
Business Day immediately preceding the first day of the relevant Distribution
Period in the Floating Rate Period.

                  "Floating Rate Period" means any period during which a
Floating Rate is in effect.

                   "Initial  Fixed Rate Period" means the period from the
Original  Issue Date through  October 31, 2007.

                  "Initial Distribution Rate" means 4.875% per annum.

                  "Interest Payment Dates" means the dates on which interest on
the Series F Notes is payable.

                  "Interest Period" means the period for which interest on the
Series F Notes is payable.

                  "Interest Rate" means the rate, in effect from time to time,
at which interest shall accrue on the Series F Notes.

                  "Investment Company Act Event" means that the Administrative
Trustees and the Company shall have received an Opinion of Counsel to the effect
that, as a result of a change in law or regulation or a written change in
interpretation or application of law or regulation by any legislative body,
court, governmental agency or regulatory authority after the Original Issue
Date, there is more than an insubstantial risk that the Trust is or will be
considered an "investment company" under the 1940 Act.

                  "Liquidation Amount" is defined in the Trust Agreement.

                  "London Business Day" means a day that is a Business Day and a
day on which dealings in deposits in U.S. dollars are transacted, or with
respect to any future date are expected to be transacted, in the London
interbank market.

               "1940 Act" means the Investment Company Act of 1940, as amended.

                  "Original Issue Date" means November 6, 2002.

                  "Preferred Security" means an undivided beneficial ownership
interest in the assets of the Trust having a Liquidation Amount of $1,000 and
having rights provided therefor in the Trust Agreement, including the right to
receive Distributions and a Liquidation Distribution as provided herein.

                  "Preferred Securities Certificate" means a certificate
evidencing ownership of a Preferred Security or Securities, substantially in the
form attached as Exhibit A to the Trust Agreement.

                  "Property Trustee" means the commercial bank or trust company
identified as the "Property Trustee" in the Trust Agreement solely in its
capacity as Property Trustee of the Trust.

                  "Redemption Date" has the meaning set forth in Section 108.

                  "Regular Record Date" means the opening of business on the
Business Day immediately preceding the relevant Interest Payment Date.

                  "Remarketing" means the conduct by which a Fixed Rate shall be
determined in accordance with the Remarketing Procedures.

                  "Remarketing Agent" means Lehman Brothers Inc., its successors
or assigns, or such other remarketing agent appointed to such capacity by the
Administrative Trustees and the Company.

                  "Remarketing Agreement" means the agreement among the Company,
the Trust and Lehman Brothers Inc., as remarketing agent, dated as of November
6, 2002.

                  "Remarketing Date" means any Business Day no later than the
third Business Day prior to any Remarketing Settlement Date.

                  "Remarketing Procedures" means those procedures set forth in
Article 3.

                  "Remarketing Settlement Date" means (i) the first Business Day
of the next Distribution Period following the expiration of the Initial Fixed
Rate Period, (ii) any Distribution Payment Date during a Floating Rate Period or
(iii) any Distribution Payment Date during a time in which Preferred Securities
are redeemable in a Fixed Rate Period subsequent to the Initial Fixed Rate
Period.

                  "Securityholder" or "Holder" when used with respect to a Trust
Security means a Person in whose name a Trust Security or Securities is
registered in the Securities Register for the Trust Securities; any such Person
is a beneficial owner within the meaning of the Delaware Statutory Trust Act.

                  "Special Event" means an Investment Company Act Event or Tax
Event.

                  "Stated Maturity" means November 1, 2042.

                  "Tax Event" means that the Administrative Trustees and the
Company shall have received an Opinion of Counsel experienced in such matters to
the effect that, as a result of (a) any amendment to, or change (including any
announced prospective change) in, the laws (or any regulations thereunder) of
the United States or any political subdivision or taxing authority thereof or
therein or (b) any amendment to, or change in, an interpretation or application
of such laws or regulations, there is more than an insubstantial risk that (i)
the Trust would be subject to United States federal income tax with respect to
income accrued or received on the Series F Notes, (ii) interest payable on the
Series F Notes would not be deductible by the Company for United States federal
income tax purposes, or (iii) the Trust would be subject to more than a de
minimis amount of other taxes, duties or other governmental charges, which
change or amendment becomes effective on or after the Original Issue Date.

                  "Telerate Page 3750" means the display designated on page 3750
on Moneyline Telerate (or such other page as may replace the 3750 page on the
service or such other service as may be nominated by the British Bankers'
Association for the purpose of displaying London interbank offered rates for
U.S. dollar deposits).

                  "3-month LIBOR" means for any Floating Rate Determination
Date, the offered rate in U.S. dollars having an index maturity of three months
for a period commencing on the second London Business Day immediately following
the Floating Rate Determination Date in amounts of not less than $1,000,000, as
such rate appears on Telerate Page 3750 or a successor reporter of such rates
selected by the Calculation Agent and acceptable to the Company, at
approximately 11:00 a.m., London time, on the Floating Rate Determination Date.

                  "Trust" means Georgia Power Capital Trust VI, a statutory
trust formed by the Company under Delaware law to issue Trust Securities, the
proceeds of which will be used to purchase the Series F Notes.

                  "Trust Agreement" means the Georgia Power Capital Trust VI
Amended and Restated Trust Agreement dated as of November 1, 2002 among the
Company, the Trustees named therein, and the holders of undivided beneficial
interests in the assets of the Trust.

                  "Trust Agreement Event of Default" means any one of the
following events (whatever the reason for such Trust Agreement Event of Default
and whether it shall be voluntary or involuntary or be effected by operation of
law or pursuant to any judgment, decree or order of any court or any order, rule
or regulation of any administrative or governmental body):

                           (i) the occurrence of an Event of Default; or

                           (ii) default by the Trust in the payment of any
                  Distribution when it becomes due and payable, and continuation
                  of such default for a period of 30 days; or

                           (iii) default by the Trust in the payment of any
                  redemption price of any Trust Security when it becomes due and
                  payable; or

                           (iv) default in the performance, or breach, of any
                  covenant or warranty of the Trustees in the Trust Agreement
                  (other than a covenant or warranty a default in whose
                  performance or breach is dealt with in clause (ii) or (iii)
                  above) and continuation of such default or breach for a period
                  of 60 days after there has been given, by registered or
                  certified mail, to the Trustees by the Holders of at least 10%
                  in liquidation amount of the Outstanding (as defined in the
                  Trust Agreement) Preferred Securities a written notice
                  specifying such default or breach and requiring it to be
                  remedied and stating that such notice is a "Notice of Default"
                  hereunder; or

                           (v) the occurrence of a Bankruptcy Event with respect
                  to the Trust.

                  "Trustees" means the Persons identified as "Trustees" in the
Trust Agreement.

                  "Trust Indenture Act" means the Trust Indenture Act of 1939 as
in force at the date as of which this instrument was executed; provided,
however, that in the event the Trust Indenture Act of 1939 is amended after such
date, "Trust Indenture Act" means, to the extent required by any such amendment,
the Trust Indenture Act of 1939 as so amended.

                  "Trust Security" means any one of the Common Securities (as
defined in the Trust Agreement) or the Preferred Securities.

                  SECTION 103.    Payment of Principal and Interest.
                                  ---------------------------------

                  The unpaid principal amount of the Series F Notes shall bear
interest at the Interest Rate per annum until paid or duly provided for.
Interest shall be paid on each Interest Payment Date to the Person in whose name
the Series F Notes are registered on the Regular Record Date for such Interest
Payment Date, provided that interest payable at the Stated Maturity of principal
or on a Redemption Date as provided herein will be paid to the Person to whom
principal is payable. So long as an Extension Period is not occurring, any such
interest that is not so punctually paid or duly provided for will forthwith
cease to be payable to the Holders on such Regular Record Date and may either be
paid to the Person or Persons in whose name the Series F Notes are registered at
the close of business on a Special Record Date for the payment of such defaulted
interest to be fixed by the Trustee ("Special Record Date"), notice whereof
shall be given to Holders of the Series F Notes not less than ten (10) days
prior to such Special Record Date, or be paid at any time in any other lawful
manner not inconsistent with the requirements of any securities exchange, if
any, on which the Series F Notes shall be listed, and upon such notice as may be
required by any such exchange, all as more fully provided in the Original
Indenture.

                  While the Preferred Securities are outstanding (i) the
Interest Rate will be equal to the Distribution Rate payable on the Preferred
Securities, (ii) the Interest Periods will be the same as Distribution Periods
for the Preferred Securities and (iii) the Interest Payment Dates will be the
same as the Distribution Payment Dates for the Preferred Securities.

                  If the Trust is terminated and the Series F Notes are
distributed to the holders of the Preferred Securities, the interest payable,
Interest Rate, Interest Periods, Interest Payment Dates and redemption
provisions with respect to Fixed Rate Periods will be determined in the same
manner as the Distributions, Distribution Rate, Distribution Periods,
Distribution Payment Dates and the redemption provisions with respect to Fixed
Rate Periods for the Preferred Securities and the Remarketing Procedures shall
remain the same except: (i) the effects of the Trust Agreement Events of Default
shall be occasioned only by the Events of Default and (ii) the cure and waiver
provisions relating to the Trust Agreement Events of Default shall be superceded
by the cure and waiver provisions relating to the Events of Default.

                  Payment of the principal and interest (including Additional
Interest, if any) due at the Stated Maturity or earlier redemption of the Series
F Notes shall be made upon surrender of the Series F Notes at the Corporate
Trust Office of the Trustee, in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and
private debts. Payments of interest (including interest on any Interest Payment
Date) will be made, subject to such surrender where applicable, at the option of
the Company, (i) by check mailed to the address of the Person entitled thereto
as such address shall appear in the Security Register or (ii) by wire transfer
at such place and to such account at a banking institution in the United States
as may be designated in writing to the Trustee at least sixteen (16) days prior
to the date for payment by the Person entitled thereto.

                  The Company shall pay, as additional interest on the Series F
Notes, when due to the United States or any other taxing authority, the amounts
set forth in clause (i) of the definition of Additional Interest.

                  SECTION 104.    Deferral of Interest Payments.
                                  -----------------------------

                  The Company has the right to defer payments of interest on the
Series F Notes by extending the interest payment period from time to time on the
Series F Notes (an "Extension Period"). During an Extension Period, interest
will continue to accrue on the Series F Notes.

                  If the Company decides to defer interest payments on the
Series F Notes, the Extension Period shall not exceed five consecutive years. An
Extension Period shall not extend beyond the stated maturity of the Series F
Notes. Prior to the termination of any Extension Period, the Company may further
defer payments of interest provided that the Extension Period, together with all
previous and further extensions thereof, may not exceed five consecutive years.
There could be multiple Extension Periods of varying lengths throughout the term
of the Series F Notes. Upon the termination of any such Extension Period and
upon the payment of all accrued and unpaid interest and any Additional Interest
then due, the Company may select a new Extension Period, subject to the above
limitations and requirements. Upon the termination of any Extension Period,
which termination shall be on an Interest Payment Date, the Company shall pay
all Deferred Interest on the next succeeding Interest Payment Date to the Person
in whose name the Series F Notes are registered on the Regular Record Date for
such Interest Payment Date, provided that Deferred Interest payable at Stated
Maturity or on any Redemption Date will be paid to the Person to whom principal
is payable.

                  If the Company shall have given notice of its election to
select any Extension Period, the Company shall not (i) declare or pay any
dividend or distribution on, or redeem, purchase, acquire or make a liquidation
payment with respect to, any of its capital stock, or make any guarantee
payments with respect to the foregoing and (ii) make any payment of interest,
principal or premium, if any, on or repay, repurchase or redeem any debt
securities (including guarantees other than its guarantee of the Preferred
Securities issued by the Trust) issued by the Company that rank pari passu with
or junior to the Series F Notes.

                  The Company shall give the Holder or Holders of the Series F
Notes, the Trustee, the Remarketing Agent and the Calculation Agent, notice as
provided in Sections 105 and 106, respectively, of the Original Indenture of its
selection or extension of an Extension Period at least one Business Day prior to
the earlier of (i) the Regular Record Date relating to the Interest Payment Date
on which the Extension Period is to commence or relating to the Interest Payment
Date on which an Extension Period that is being extended would otherwise
terminate, or (ii) the date the Company or the Trust is required to give notice
to any applicable self-regulatory organization of the record date or the date
such distributions are payable. The Company shall cause the Trust to give notice
of the Company's selection of such Extension Period to Holders of the Trust
Securities, the Calculation Agent and the Remarketing Agent.

                  At any time any of the foregoing notices are given to the
Trustee, the Company shall give to the Paying Agent for the Series F Notes such
information as said Paying Agent shall reasonably require in order to fulfill
its tax reporting obligations with respect to such Series F Notes.

                  SECTION 105.    Denominations.
                                  -------------

                  The  Series F Notes may be issued in the denominations of
$1,000,  or any  integral  multiple thereof.

                  SECTION 106.    Global Securities.
                                  -----------------

                  If the Series F Notes are distributed to Holders of the Trust
Securities of the Trust in liquidation of such Holders' interests therein, the
Series F Notes will be issued in the form of one or more Global Securities
registered in the name of the Depositary (which shall be The Depository Trust
Company) or its nominee. Except under the limited circumstances described below,
Series F Notes represented by the Global Security will not be exchangeable for,
and will not otherwise be issuable as, Series F Notes in definitive form. The
Global Securities described above may not be transferred except by the
Depositary to a nominee of the Depositary or by a nominee of the Depositary to
the Depositary or another nominee of the Depositary or to a successor Depositary
or its nominee.

                  Owners of beneficial interests in such a Global Security will
not be considered the Holders thereof for any purpose under the Indenture, and
no Global Security representing a Series F Note shall be exchangeable, except
for another Global Security of like denomination and tenor to be registered in
the name of the Depositary or its nominee or to a successor Depositary or its
nominee. The rights of Holders of such Global Security shall be exercised only
through the Depositary.

                  A Global Security shall be exchangeable for Series F Notes
registered in the names of persons other than the Depositary or its nominee only
if (i) the Depositary notifies the Company that it is unwilling or unable to
continue as a Depositary for such Global Security and no successor Depositary
shall have been appointed, or if at any time the Depositary ceases to be a
clearing agency registered under the Exchange Act at a time when the Depositary
is required to be so registered to act as such Depositary and no successor
Depositary shall have been appointed, (ii) the Company in its sole discretion
determines that such Global Security shall be so exchangeable, or (iii) there
shall have occurred an Event of Default with respect to the Series F Notes. Any
Global Security that is exchangeable pursuant to the preceding sentence shall be
exchangeable for Series F Notes registered in such names as the Depositary shall
direct.

                  SECTION 107.    Transfer.
                                  --------

                  No service charge will be made for any transfer or exchange of
Series F Notes, but payment will be required of a sum sufficient to cover any
tax or other governmental charge that may be imposed in connection therewith.

                  The Company shall not be required (a) to issue, transfer or
exchange any Series F Notes during a period beginning at the opening of business
fifteen (15) days before the day of the mailing of a notice of redemption, and
ending at the close of business on the day of the mailing, or (b) to transfer or
exchange any Series F Notes called for redemption.

                  SECTION 108.    Redemption.
                                  ----------

                  The Series F Notes shall be subject to redemption at the
option of the Company, in whole, but not in part, without premium or penalty, on
the last Interest Payment Date relating to the Initial Fixed Rate Period, on
such dates with respect to any other Fixed Rate Period as the Company and the
Trust may determine prior to the remarketing establishing such Fixed Rate Period
or on any Interest Payment Date relating to a Floating Rate Period, at a
Redemption Price equal to 100% of the principal amount to be redeemed plus
accrued but unpaid interest, including Additional Interest, if any, to the
Redemption Date. In addition, upon the occurrence of a Special Event at any
time, the Company may, within ninety (90) days following the occurrence thereof
and subject to the terms and conditions of the Indenture, elect to redeem the
Series F Notes, in whole, but not in part, at a price equal to 100% of the
principal amount to be redeemed plus any accrued but unpaid interest (including
Additional Interest) to the date of redemption (any date of redemption as
provided for in this paragraph herein called a "Redemption Date").

                  The Series F Notes will not have a sinking fund.

                  Notice of redemption shall be given as provided in Section
1104 of the Original Indenture.

                                    ARTICLE 2

                             Distribution Procedures

                  Article 2 sets forth the procedures to determine the
Distribution Rate, Distribution Periods and Distribution Payment Dates for the
Preferred Securities. While the Preferred Securities are outstanding, the
Interest Rate, Interest Periods, Interest Payment Dates and associated terms
relating to the Series F Notes shall be the same as the Distribution Rate,
Distribution Periods and Distribution Payment Dates and associated terms
relating to the Preferred Securities. If the Trust is terminated and the Series
F Notes are distributed to the holders of the Preferred Securities, subject to
Section 103 herein, the below described procedures will be directly applicable
to the Series F Notes.

                  SECTION 201.    Distributions.
                                  -------------

                  Distributions shall accrue from the Original Issue Date until
the Redemption Date (as defined in the Trust Agreement). During the Initial
Fixed Rate Period, Distributions will be payable semiannually in arrears on May
1 and November 1 of each year, commencing on May 1, 2003. During any Fixed Rate
Period, other than the Initial Fixed Rate Period, Distributions will be payable
semiannually in arrears on Distribution Payment Dates determined based on the
Remarketing Date (if the Preferred Securities are remarketed for a new Fixed
Rate Period that begins on May 1 or November 1, Distributions will be payable on
May 1 and November 1 of each year, and if the Preferred Securities are
remarketed for a new Fixed Rate Period that begins on February 1 or August 1,
Distributions will be payable on February 1 and August 1 of each year). During
any Floating Rate Period, Distributions will be payable quarterly in arrears on
February 1, May 1, August 1 and November 1 of each year.

                  If any Distribution Payment Date with respect to a Fixed Rate
Period is not a Business Day, Distributions will be payable, without interest,
on the immediately succeeding Business Day, with the same force and effect as if
payment was made on the date such payment was originally payable. If any
Distribution Payment Date with respect to a Floating Rate Period is not a
Business Day, then Distributions will be payable on the immediately succeeding
Business Day and Distributions shall accrue to the actual payment date (except
for a Distribution Payment Date that coincides with the Redemption Date (as
defined in the Trust Agreement)).

                  The amount of Distributions payable on each Distribution
Payment Date relating to a Fixed Rate Period will be computed on the basis of a
360-day year of twelve 30-day months. The amount of Distributions payable on
each Distribution Payment Date in respect of a Floating Rate Period will be
computed by multiplying the per annum Distribution Rate in effect for such
Distribution Period by a fraction, the numerator of which will be the actual
number of days in such Distribution Period (or portion thereof) (determined by
including the first day thereof and excluding the last thereof) and the
denominator of which will be 360, and multiplying the rate so obtained by
$1,000.

                  Distributions on the Preferred Securities will be deferred
during any Extension Period but will continue to accrue. The payment of such
Distributions, together with any interest thereon, will be distributed to the
Holders of Trust Securities as received at the end of any Extension Period.

                  Distributions on the Trust Securities shall be made and shall
be deemed payable on each Distribution Payment Date only to the extent that the
Trust has legally and immediately available funds in the Payment Account (as
defined in the Trust Agreement) for the payment of such Distributions.

                  Distributions, including Additional Amounts, if any, on the
Trust Securities on each Distribution Date shall be payable to the Holders
thereof as they appear on the Securities Register for the Trust Securities on
the Regular Record Date.

                  Each Trust Security upon registration of transfer of or in
exchange for or in lieu of any other Trust Security shall carry the rights of
Distributions accrued (including Additional Amounts, if any) and unpaid, and to
accrue (including Additional Amounts, if any), which were carried by such other
Trust Security.

                  SECTION 202.    Distribution Rate.
                                  -----------------

                  During the Initial Fixed Rate Period,  the Distribution Rate
shall be the Initial  Distribution Rate.

                  Prior to the expiration of the Initial Fixed Rate Period and
any subsequent Fixed Rate Period or a Distribution Period with respect to a
Floating Rate Period or a Distribution Period in a Fixed Rate Period during a
time in which the Preferred Securities are redeemable in such Fixed Rate Period,
the Company and the Administrative Trustees will have the option to remarket the
Preferred Securities to establish a new Fixed Rate for a new Fixed Rate Period
(to be in effect after the expiration of the then current Distribution Period).
If the Company and the Administrative Trustees elect to conduct a Remarketing of
the Preferred Securities for the purpose of establishing a new Fixed Rate for a
new Fixed Rate Period, the Company and the Administrative Trustees shall not
less than 20 nor more than 35 Business Days prior to the related Election Date,
notify the Clearing Agency, the Property Trustee, the Indenture Trustee, the
Calculation Agent and the Remarketing Agent. If the Preferred Securities are not
issued in global, fully registered form to the Clearing Agency, such notice
shall be delivered to the Holders of the Preferred Securities instead of the
Clearing Agency. Such notice shall indicate the length of the proposed new Fixed
Rate Period, the proposed Remarketing Date and any redemption provisions that
apply during such new Fixed Rate Period. The Company and the Administrative
Trustees shall have the right to terminate a Remarketing at any time prior to
the Election Date by notice of such termination to the Clearing Agency, the
Remarketing Agent, the Property Trustee, the Indenture Trustee and the
Calculation Agent.

                  If the Remarketing Agent has determined that it will be able
to remarket all Preferred Securities tendered or deemed tendered for purchase in
the Remarketing at a Fixed Rate and at a price of $1,000 per Preferred Security,
on such Remarketing Date, the Distribution Rate for the new Fixed Rate Period
will be the Fixed Rate determined by the Remarketing Agent, which will be the
rate per annum (rounded to the nearest one-thousandth (0.001) of one percent per
annum) which the Remarketing Agent determines, in its sole judgment, to be the
lowest Fixed Rate per annum, if any, that will enable it to remarket all
Preferred Securities tendered or deemed tendered for Remarketing at a price of
$1,000 per Preferred Security.

                  If the Company and the Administrative Trustees do not elect to
remarket the Preferred Securities or have terminated a Remarketing or the
Remarketing Agent is unable to remarket all of the Preferred Securities tendered
or deemed tendered for a purchase price of $1,000 per Preferred Security, the
Distribution Rate shall be the Floating Rate and the new Distribution Period
shall be a Floating Rate Period.

                  The Calculation Agent shall calculate the Floating Rate as
follows:

                  (1) The Calculation Agent shall calculate the Floating Rate
with respect to each Distribution Period in a Floating Rate Period by
determining 3-month LIBOR as of the Floating Rate Determination Date preceding
such Distribution Period, in which case, the Floating Rate will be 3-month LIBOR
plus 3.05%.

                  (2) In the event no 3-month LIBOR appears on Telerate Page
3750 as of approximately 11:00 a.m., London time, on a Floating Rate
Determination Date, the Calculation Agent shall request the principal London
offices of each of four major banks in the London interbank market selected by
the Calculation Agent (after consultation with the Company) to provide a
quotation of the rate (the "Rate Quotation") at which three-month deposits in
amounts of not less than $1,000,000 are offered by it to prime banks in the
London interbank market, as of approximately 11:00 a.m., London time, on such
Floating Rate Determination Date, that is representative of single transactions
at such time (the "Representative Amounts"). If at least two Rate Quotations are
provided, the Floating Rate will be the arithmetic mean of the Rate Quotations
obtained by the Calculation Agent, plus 3.05%.

                  (3) In the event no 3-month LIBOR appears on Telerate Page
3750 as of approximately 11:00 a.m., London time, on a Floating Rate
Determination Date and there are fewer than two Rate Quotations, the Floating
Rate will be the arithmetic mean of the rates quoted at approximately 11:00
a.m., New York City time, on such Floating Rate Determination Date, by three
major banks in New York City selected by the Calculation Agent (after
consultation with the Company), for loans in Representative Amounts in U.S.
dollars to leading European banks, having an index maturity of three months for
a period commencing on the second London Business Day immediately following such
Floating Rate Determination Date, plus 3.05%; provided, however, that if fewer
than three banks selected by the Calculation Agent are quoting such rates, the
Floating Rate for the applicable Floating Rate Period will be the Floating Rate
in effect for the preceding Floating Rate Period.

                  If the Company elects to defer interest during a Fixed Rate
Period, Distributions will continue to accrue at the Fixed Rate until the
expiration of the Fixed Rate Period. Prior to the expiration of such Fixed Rate
Period and any Fixed Rate Period during the Extension Period, the Company and
the Administrative Trustees will have the option to remarket the Preferred
Securities for a new Fixed Rate Period (to take effect upon expiration of such
Fixed Rate Period). If the Company and the Trust do not remarket the Preferred
Securities, the Floating Rate during the Extension Period shall be determined as
provided herein, but shall not be less than the Fixed Rate for the Fixed Rate
Period just ended. If the Company elects to defer interest during a Floating
Rate Period, Distributions will continue to accrue at the applicable Floating
Rate, reset quarterly, subject to the right of the Company and the
Administrative Trustees to remarket the Preferred Securities prior to any
Distribution Payment Date in order to establish a new Fixed Rate for a new Fixed
Rate Period in accordance with the Remarketing Procedures.

                  SECTION 203.    Distribution Periods.
                                  --------------------

                  In accordance with Section 202 and the Remarketing Procedures,
the Company and the Trust may, prior to the expiration of the Initial Fixed Rate
Period or any subsequent Fixed Rate Period or prior to any Distribution Payment
Date during a time in which the Preferred Securities are redeemable in any Fixed
Rate Period or a Distribution Payment Date with respect to a Floating Rate
Period, elect to remarket the Preferred Securities to establish a new Fixed Rate
for a new Fixed Rate Period. A Fixed Rate Period must be for a duration of at
least six months, may not extend beyond the Stated Maturity of the Series F
Notes and may not end on a day other than a day immediately preceding a
Distribution Payment Date. If a new Fixed Rate for a new Fixed Rate Period is
set in a Remarketing, a new Fixed Rate Period shall commence following the
expiration of the then current Fixed Rate Period or Distribution Period within
the current Floating Rate Period, as the case may be. If a new Fixed Rate for a
new Fixed Rate Period is not set, for any reason, a Floating Rate Period, and
the Floating Rate, reset quarterly, shall be in effect until the Company and the
Administrative Trustees remarket the Preferred Securities and set a new Fixed
Rate for a new Fixed Rate Period in accordance with the Remarketing Procedures.

                                    ARTICLE 3

                             Remarketing Procedures

                  Article 3 sets forth the Remarketing Procedures as set forth
in the Trust Agreement to determine the applicable Fixed Rate for the Preferred
Securities. If the Trust is terminated and the Series F Notes are distributed to
the holders of the Preferred Securities subject to Section 103 herein, the below
described Remarketing Procedures will be directly applicable to the Series F
Notes.

                  SECTION 301.    Election to Remarket.
                                  --------------------

                  If the Company and the Administrative Trustees elect to
conduct a Remarketing, the Trust, not less than 20 nor more than 35 Business
Days prior to the related Election Date, is required to give the notice of
Remarketing of the Preferred Securities to the Clearing Agency, the Property
Trustee, the Indenture Trustee, the Calculation Agent and the Remarketing Agent.
If the Preferred Securities are not issued in global, fully registered form,
such notice shall be delivered to the Holders of the Preferred Securities
instead of the Clearing Agency. Such notice will describe the Remarketing and
will indicate the length of the proposed new Fixed Rate Period, the proposed
Remarketing Date and any redemption provisions that apply during such new Fixed
Rate Period. At any time prior to the Election Date, the Company and the
Administrative Trustees may elect to terminate a Remarketing by giving the
Clearing Agency, the Remarketing Agent, the Property Trustee, the Indenture
Trustee and the Calculation Agent notice of such termination.

                  SECTION 302.    Notice of Election

                  Not later than 4:00 P.M., New York City time, on an Election
Date, each Holder of Preferred Securities may give (through the facilities of
the Clearing Agency in the case of Book-Entry Preferred Securities Certificates
(as defined in the Trust Agreement)), a notice to the Property Trustee of its
election ("Notice of Election") (i) to retain and not to have all or any portion
of the Preferred Securities owned by it remarketed in the Remarketing or (ii) to
tender all or any portion of such Preferred Securities for purchase in the
Remarketing (such portion, in either case, is required to be in the Liquidation
Amount of $1,000 or any integral multiple thereof). Any Notice of Election given
to the Property Trustee will be irrevocable and may not be conditioned upon the
level at which the Fixed Rate is established in the Remarketing. Promptly after
4:30 P.M., New York City time, on such Election Date, the Property Trustee,
based on the Notices of Election received by it through the Clearing Agency (or
from the Holders if Definitive Preferred Securities Certificates have been
issued) prior to such time, will notify the Trust, the Company and the
Remarketing Agent of the number of Preferred Securities to be retained by
holders of Preferred Securities and the number of Preferred Securities tendered
for purchase in the Remarketing.

                  If any Holder of Preferred Securities gives a Notice of
Election to tender Preferred Securities as described above, the Preferred
Securities so subject to such Notice of Election will be deemed tendered for
purchase in the Remarketing, notwithstanding any failure by such Holder to
deliver or properly deliver such Preferred Securities to the Remarketing Agent
for purchase. If any Holder of Preferred Securities fails timely to deliver a
Notice of Election, as described above, such Preferred Securities will be deemed
tendered for purchase in such Remarketing, notwithstanding such failure or the
failure by such Holder to deliver or properly deliver such Preferred Securities
to the Remarketing Agent for purchase.

                  The right of each Holder of Preferred Securities to have
Preferred Securities tendered for purchase shall be limited to the extent that
(i) the Remarketing Agent conducts a Remarketing pursuant to the terms of the
Remarketing Agreement, (ii) Preferred Securities tendered have not been called
for redemption, (iii) the Remarketing Agent is able to find a purchaser or
purchasers for tendered Preferred Securities at a Fixed Rate and (iv) such
purchaser or purchasers deliver the purchase price therefor to the Remarketing
Agent.

                  Any Holder of Preferred Securities that desires to continue to
retain a number of Preferred Securities, but only if the Fixed Rate is not less
than a specified rate per annum, should submit a Notice of Election to tender
such Preferred Securities and separately notify the Remarketing Agent of its
interest at the telephone number set forth in the notice of Remarketing. If such
Holder so notifies the Remarketing Agent, the Remarketing Agent will give
priority to such Holder's purchase of such number of Preferred Securities in the
Remarketing, providing that the Fixed Rate is not less than such specified rate.

                  SECTION 303.    Determination of Distribution Rate.
                                  ----------------------------------

                  If Holders submit Notices of Election to retain all of the
Preferred Securities then outstanding, the Fixed Rate will be the rate
determined by the Remarketing Agent, in its sole discretion, as the rate that
would have been established had a Remarketing been held on the related
Remarketing Date.

                  On any Remarketing Date on which the remarketing is to be
conducted, the Remarketing Agent will use commercially reasonable efforts to
remarket, at a price equal to 100% of the Liquidation Amount thereof, Preferred
Securities tendered or deemed tendered for purchase. Except as provided in the
previous paragraph of this Section 303, if, as a result of such efforts, on any
Remarketing Date, the Remarketing Agent has determined that it will be able to
remarket all Preferred Securities tendered or deemed tendered for purchase in
the Remarketing at a Fixed Rate and at a price of $1,000 per Preferred Security,
prior to 4:00 P.M., New York City time, on such Remarketing Date, the
Remarketing Agent will determine the Fixed Rate, which will be the rate per
annum (rounded to the nearest one-thousandth (0.001) of one percent per annum)
which the Remarketing Agent determines, in its sole judgment, to be the lowest
Fixed Rate per annum, if any, that will enable it to remarket all Preferred
Securities tendered or deemed tendered for remarketing at a price of $1,000 per
Preferred Security.

                  If the Remarketing Agent is unable to remarket by 4:00 P.M.,
New York City time on the third Business Day prior to the Remarketing Settlement
Date, all Preferred Securities tendered or deemed tendered for a purchase at a
price of $1,000 per Preferred Security, the Distribution Rate for the next
Distribution Period shall be the Floating Rate. In such case, no Preferred
Securities will be sold in the Remarketing and each Holder will continue to hold
its Preferred Securities at the Floating Rate.

                  All Preferred Securities tendered or deemed tendered in the
Remarketing will be automatically delivered to the account of the Remarketing
Agent through the facilities of the Clearing Agency against payment of the
purchase price therefor on the Remarketing Settlement Date. The Remarketing
Agent will make payment to the Clearing Agency Participant of each tendering
holder of Preferred Securities in the Remarketing through the facilities of the
Clearing Agency by the close of business on the Remarketing Settlement Date.

                  In accordance with the Clearing Agency's normal procedures, on
the Remarketing Settlement Date, the transaction described above with respect to
each Preferred Security tendered for purchase and sold in the Remarketing, will
be executed through the Clearing Agency Participants, will be debited and
credited and such Preferred Securities delivered by book entry as necessary to
effect purchases and sales of such Preferred Securities. The Clearing Agency is
expected to make payment in accordance with its normal procedures.

                  If any Holder selling Preferred Securities in the Remarketing
fails to deliver such Preferred Securities, the Clearing Agency Participant of
such selling Holder and of any other person that was to have purchased Preferred
Securities in the Remarketing may deliver to any such other person a number of
Preferred Securities that is less than the number of Preferred Securities that
otherwise was to be purchased by such person. In such event, the number of
Preferred Securities to be so delivered will be determined by such Clearing
Agency Participant and delivery of such lesser number of Preferred Securities
will constitute good delivery.

                  The previous three paragraphs shall not apply if Definitive
Preferred Securities Certificates have been issued.

                  The Remarketing Agent is not obligated to purchase any
Preferred Securities that would otherwise remain unsold in a Remarketing.
Neither the Trust, any trustee of the Trust, the Company nor the Remarketing
Agent shall be obligated in any case to provide funds to make payment upon
tender of Preferred Securities for Remarketing.

                  SECTION 304.      Remarketing Agent

                  Prior to the issuance of the Preferred Securities, the Company
and the Trust will enter into the Remarketing Agreement with the Remarketing
Agent, providing, among other things, that the Remarketing Agent will follow the
Remarketing Procedures for the purposes of determining the applicable Fixed
Rate. The Company will pay the Remarketing Agent compensation for its services
under the Remarketing Agreement.

                                    ARTICLE 4

                            Miscellaneous Provisions

                  SECTION 401.    Recitals by Company.
                                  -------------------

                  The recitals in this Fourth Supplemental Indenture are made by
the Company only and not by the Trustee, and all of the provisions contained in
the Original Indenture in respect of the rights, privileges, immunities, powers
and duties of the Trustee shall be applicable in respect of Series F Notes and
of this Fourth Supplemental Indenture as fully and with like effect as if set
forth herein in full.

                  SECTION 402.    Ratification and Incorporation of Original
Indenture.

                  As heretofore supplemented and as supplemented hereby, the
Original Indenture is in all respects ratified and confirmed, and the Original
Indenture, as heretofore supplemented and as further supplemented by this Fourth
Supplemental Indenture shall be read, taken and construed as one and the same
instrument.

                  SECTION 403.    Executed in Counterparts.
                                  ------------------------

                  This Fourth Supplemental Indenture may be simultaneously
executed in several counterparts, each of which shall be deemed to be an
original, and such counterparts shall together constitute but one and the same
instrument.
         IN WITNESS WHEREOF, each party hereto has caused this instrument to be
signed in its name and behalf by its duly authorized officers, all as of the day
and year first above written.

ATTEST:                              GEORGIA POWER COMPANY

By:                                           By:
     Assistant Secretary                  Executive Vice President, Treasurer
and Chief Financial Officer

ATTEST:                              JPMORGAN CHASE BANK

By:                                  By:
     ----------------------------
         Trust Officer                                      Vice President

<PAGE>

                                    EXHIBIT A

NO. 1 CUSIP NO. 69361LAJO

THE INDEBTEDNESS EVIDENCED BY THIS SECURITY IS, TO THE EXTENT PROVIDED IN THE
INDENTURE, SUBORDINATE AND SUBJECT IN RIGHT OF PAYMENT TO THE PRIOR PAYMENT IN
FULL OF ALL SENIOR INDEBTEDNESS AND THIS SECURITY IS ISSUED SUBJECT TO THE
PROVISIONS OF THE INDENTURE WITH RESPECT THERETO.

                              GEORGIA POWER COMPANY
                        SERIES F JUNIOR SUBORDINATED NOTE
                              DUE NOVEMBER 1, 2042

Principal Amount:          $________________
Regular Record Date:         The opening of business on the Business Day
                              immediately  preceding the relevant
                                    Interest Payment Date
Original Issue Date:                November 6, 2002
Stated Maturity:           November 1, 2042
Interest Rate:              Determined by procedures set forth in the Indenture
Interest Payment Dates:    Determined by procedures set forth in the Indenture
Authorized Denomination:   $1,000

                  Georgia Power Company, a Georgia corporation (the "Company",
which term includes any successor corporation under the Indenture referred to on
the reverse hereof), for value received, hereby promises to pay to
________________, or registered assigns, the principal sum of
_______________________($__________) on the Stated Maturity shown above (or upon
earlier redemption), and to pay interest thereon from the Original Issue Date
shown above, or from the most recent Interest Payment Date to which interest has
been paid or duly provided for, on each Interest Payment Date commencing on the
Interest Payment Date next succeeding the Original Issue Date shown above and on
the Stated Maturity (or upon earlier redemption) at the prevailing Interest Rate
until the principal hereof is paid or made available for payment and on any
overdue principal and on any overdue installment of interest. The interest so
payable, and punctually paid or duly provided for, on any Interest Payment Date
(other than an Interest Payment Date that is the Stated Maturity or on a
Redemption Date) will, as provided in such Indenture, be paid to the Person in
whose name this Note (the "Note") is registered on the Regular Record Date as
specified above next preceding such Interest Payment Date, provided that any
interest payable at Stated Maturity or on any Redemption Date will be paid to
the Person to whom principal is payable. Except as otherwise provided in the
Indenture, any such interest not so punctually paid or duly provided for will
forthwith cease to be payable to the Holder on such Regular Record Date and may
either be paid to the Person in whose name this Note is registered at the close
of business on a Special Record Date for the payment of such defaulted interest
to be fixed by the Trustee, notice whereof shall be given to Holders of Notes of
this series not less than 10 days prior to such Special Record Date, or be paid
at any time in any other lawful manner not inconsistent with the requirements of
any securities exchange, if any, on which the Notes of this series shall be
listed, and upon such notice as may be required by any such exchange, all as
more fully provided in the Indenture.

                  Payments of interest on this Note in respect of a Floating
Rate Period (or a portion thereof) will be computed by multiplying the per annum
Interest Rate in effect for such Floating Rate Period by a fraction, the
numerator of which will be the actual number of days in such Floating Rate
Period (or portion thereof) (determined by including the first day thereof and
excluding the last thereof) and the denominator of which will be 360, and
multiplying the rate so obtained by the principal amount hereof. The amount of
interest on this Note payable on each Interest Payment Date in respect of a
Fixed Rate Period will be computed on the basis of a 360-day year consisting of
twelve 30-day months.

                  The Company has the right to defer payments of interest on
this Note by extending the interest payment period from time to time on this
Note (an "Extension Period").

                  If the Company decides to defer interest payments on this
Note, the Extension Period shall not exceed five consecutive years. An Extension
Period shall not extend beyond the stated maturity of this Note. Prior to the
termination of any Extension Period, the Company may further defer payments of
interest provided that the Extension Period, together with all such previous and
further extensions thereof, may not exceed five consecutive years. Upon the
termination of any Extension Period and the payment of all amounts then due, the
Company may select a new Extension Period, subject to the above requirements.
There could be multiple Extension Periods of varying lengths throughout the term
of this Note.

                  During an Extension Period, unpaid interest (together with
interest thereon) will compound on each Interest Payment Date at the prevailing
Interest Rate ("Deferred Interest"). Upon the termination of each Extension
Period, which shall be an Interest Payment Date, the Company shall pay all
Deferred Interest on the next succeeding Interest Payment Date to the Person in
whose name this Note is registered at the close of business on the Regular
Record Date for such Interest Payment Date, provided that any Deferred Interest
payable at Stated Maturity or on any Redemption Date will be paid to the Person
to whom principal is payable.

                  If the Company shall have given notice of its election to
select any Extension Period, the Company shall not (i) declare or pay any
dividend or distribution on, or redeem, purchase, acquire or make a liquidation
payment with respect to, any of its capital stock, or make any guarantee
payments with respect to the foregoing and (ii) make any payment of interest,
principal or premium, if any, on or repay, repurchase or redeem any debt
securities (including guarantees other than its guarantee of the Preferred
Securities issued by the Trust) issued by the Company that rank pari passu with
or junior to this Note. The Company shall give the Holder of this Note, the
Trustee, the Remarketing Agent and the Calculation Agent notice of its selection
or extension of an Extension Period at least one Business Day prior to the
earlier of (i) the Regular Record Date relating to the Interest Payment Date on
which the Extension Period is to commence or relating to the Interest Payment
Date on which an Extension Period that is being extended would otherwise
terminate or (ii) the date the Company or Trust is required to give notice to
the New York Stock Exchange or other applicable self-regulatory organization of
the record date or the date distributions are payable.

                  The Company also shall be obligated to pay when due and
without extension all additional amounts as may be required so that the net
amount received and retained by the Holder of this Note (if the Holder is a
Trust) after paying taxes, duties, assessments or governmental charges of
whatever nature (other than withholding taxes) imposed by the United States or
any other taxing authority will not be less than the amounts such Holder would
have received had no such taxes, duties, assessments, or other governmental
charges been imposed.

                  Payment of the principal of and interest (including Additional
Interest, if any) due at the Stated Maturity or earlier redemption of the Series
F Notes shall be made upon surrender of the Series F Notes at the Corporate
Trust Office of the Trustee, in such coin or currency of the United States of
America as at the time of payment is legal tender for payment of public and
private debts. Payment of interest (including interest on an Interest Payment
Date) will be made, subject to such surrender where applicable, at the option of
the Company, (i) by check mailed to the address of the Person entitled thereto
as such address shall appear in the Security Register or (ii) by wire transfer
at such place and to such account at a banking institution in the United States
as may be designated in writing to the Trustee at least 16 days prior to the
date for payment by the Person entitled thereto.

                  The indebtedness evidenced by this Note is, to the extent
provided in the Indenture, subordinate and subject in right of payment to the
prior payment in full of all Senior Indebtedness (as defined in the Indenture),
and this Note is issued subject to the provisions of the Indenture with respect
thereto. Each Holder of this Note, by accepting the same, (a) agrees to and
shall be bound by such provisions, (b) authorizes and directs the Trustee on his
behalf to take such action as may be necessary or appropriate to effectuate the
subordination so provided, and (c) appoints the Trustee his attorney-in-fact for
any and all such purposes. Each Holder hereof, by his acceptance hereof, waives
all notice of the acceptance of the subordination provisions contained herein
and in the Indenture by each holder of Senior Indebtedness, whether now
outstanding or hereafter incurred, and waives reliance by each such holder upon
said provisions.

                  REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS
NOTE SET FORTH ON THE REVERSE HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL
PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH AT THIS PLACE.

                  Unless the certificate of authentication hereon has been
executed by the Trustee by manual signature, this Note shall not be entitled to
any benefit under the Indenture or be valid or obligatory for any purpose.

<PAGE>

                  IN WITNESS WHEREOF, the Company has caused this instrument to
be duly executed under its corporate seal.

Dated: ______ __, ____.

                                       GEORGIA POWER COMPANY

                                       By:
                                            ------------------------------
                                                Vice President

Assistant Secretary

                                   {Seal of GEORGIA POWER COMPANY appears here}

<PAGE>

                          CERTIFICATE OF AUTHENTICATION

                      This is one of the Notes referred to in the
within-mentioned Indenture.

                                      JPMORGAN CHASE BANK,
                                      as Trustee

                                      By:
                                               Authorized Officer

<PAGE>

                             (Reverse Side of Note)

                  This Note is one of a duly authorized issue of Junior
Subordinated Notes of the Company (the "Notes"), issued and issuable in one or
more series under a Subordinated Note Indenture, dated as of June 1, 1997, as
heretofore supplemented and as supplemented by the Fourth Supplemental Indenture
(the "Fourth Supplemental Indenture") dated as of November 6, 2002
(collectively, the "Indenture") between the Company and JPMorgan Chase Bank
(formerly known as The Chase Manhattan Bank), as trustee (the "Trustee," which
term includes any successor trustee under the Indenture), to which Indenture and
all indentures incidental thereto reference is hereby made for a statement of
the respective rights, limitation of rights, duties and immunities thereunder of
the Company, the Trustee and the Holders of the Notes issued thereunder and of
the terms upon which said Notes are, and are to be, authenticated and delivered.
This Note is one of the series designated on the face hereof as Series F Junior
Subordinated Notes due November 1, 2042 (the "Series F Notes") in the aggregate
principal amount of up to $309,279,000. Capitalized terms used herein for which
no definition is provided herein shall have the meanings set forth in the
Indenture.

                  While the Preferred Securities are outstanding, (i) the
Interest Rate, Interest Periods, Interest Payment Dates and associated terms and
redemption provisions with respect to the Fixed Rate Periods relating to this
Note shall be the same as the Distribution Rate, Distribution Periods,
Distribution Payment Dates and associated terms and redemption provisions with
respect to Fixed Rate Periods relating to the Preferred Securities, established
in Article 2 of the Fourth Supplemental Indenture and (ii) the Remarketing
Procedures relating to this Note shall be the same as those procedures relating
to the Preferred Securities, established in Article 3 of the Fourth Supplemental
Indenture.

                  If the Trust is terminated and this Note is distributed to
holders of Preferred Securities, subject to Section 103 of the Fourth
Supplemental Indenture, the terms and procedures relating to the Preferred
Securities established in Articles 2 and 3 of the Fourth Supplemental Indenture
shall be directly applicable to this Note.

                  The Company shall have the right, subject to the terms and
conditions of the Indenture, to redeem this Note on the last Interest Payment
Date relating to the Initial Fixed Rate Period, on such dates with respect to
any other Fixed Rate Period as the Company and the Trust may determine prior to
the Remarketing establishing such Fixed Rate Period or on any Interest Payment
Date relating to a Floating Rate Period at the option of the Company, without
premium or penalty, in whole, but not in part, at a Redemption Price equal to
100% of the principal amount to be redeemed plus accrued but unpaid interest,
including any Additional Interest, if any, to the Redemption Date. Upon the
occurrence of a Special Event (as defined below) at any time, the Company may,
within 90 days following the occurrence thereof and subject to the terms and
conditions of the Indenture, redeem this Note without premium or penalty, in
whole, but not in part, at a Redemption Price equal to 100% of the principal
amount thereof plus accrued but unpaid interest, including any Additional
Interest, if any, to the Redemption Date. A Special Event may be a Tax Event or
an Investment Company Act Event. "Tax Event" means that the Company and the
Administrative Trustees shall have received an Opinion of Counsel experienced in
such matters to the effect that, as a result of (a) any amendment to, or change
(including any announced prospective change) in, the laws (or any regulations
thereunder) of the United States or any political subdivision or taxing
authority thereof or therein or (b) any amendment to, or change in, an
interpretation or application of such laws or regulations, there is more than an
insubstantial risk that (i) the related Trust would be subject to United States
federal income tax with respect to income accrued or received on the Series F
Notes, (ii) interest payable on the Series F Notes would not be deductible by
the Company for United States federal income tax purposes, or (iii) the related
Trust would be subject to more than a de minimis amount of other taxes, duties
or other governmental charges, which change or amendment becomes effective on or
after the Original Issue Date. "Investment Company Act Event" means that the
Administrative Trustees and the Company shall have received an Opinion of
Counsel to the effect that, as a result of a change in law or regulation or a
written change in interpretation or application of law or regulation by any
legislative body, court, governmental agency or regulatory authority after the
Original Issue Date, there is more than an insubstantial risk that the Trust is
or will be considered an "investment company" under the Investment Company Act
of 1940, as amended.

                  If an Event of Default with respect to the Notes of this
series shall occur and be continuing, the principal of the Notes of this series
may be declared due and payable in the manner, with the effect and subject to
the conditions provided in the Indenture.

                  The Indenture permits, with certain exceptions as therein
provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of the Notes of each
series to be affected under the Indenture at any time by the Company and the
Trustee with the consent of the Holders of not less than a majority in principal
amount of the Notes at the time Outstanding of each series to be affected. The
Indenture also contains provisions permitting the Holders of specified
percentages in principal amount of the Notes of each series at the time
Outstanding, on behalf of the Holders of all Notes of such series, to waive
compliance by the Company with certain provisions of the Indenture and certain
past defaults under the Indenture and their consequences. Any such consent or
waiver by the Holder of this Note shall be conclusive and binding upon such
Holder and upon all future Holders of this Note and of any Note issued upon the
registration of transfer hereof or in exchange hereof or in lieu hereof, whether
or not notation of such consent or waiver is made upon this Note.

                  No reference herein to the Indenture and no provision of this
Note or of the Indenture shall alter or impair the obligation of the Company,
which is absolute and unconditional, to pay the principal of and interest on
this Note at the times, place and rate, and in the coin or currency, herein
prescribed.

                  As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Note is registrable in the
Security Register, upon surrender of this Note for registration of transfer at
the office or agency of the Company for such purpose, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the
Company and the Security Registrar and duly executed by, the Holder hereof or
his attorney duly authorized in writing, and thereupon one or more new Notes of
this series, of authorized denominations and of like tenor and for the same
aggregate principal amount, will be issued to the designated transferee or
transferees. No service charge shall be made for any such registration of
transfer or exchange, but the Company may require payment of a sum sufficient to
cover any tax or other governmental charge payable in connection therewith.

                  Prior to due presentment of this Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee
may treat the Person in whose name this Note is registered as the owner hereof
for all purposes, whether or not this Note be overdue, and neither the Company,
the Trustee nor any such agent shall be affected by notice to the contrary.

                  The Notes of this series are issuable only in registered form
without coupons in denominations of $1,000 and any integral multiple thereof. As
provided in the Indenture and subject to certain limitations therein set forth,
Notes of this series are exchangeable for a like aggregate principal amount of
Notes of this series of a different authorized denomination, as requested by the
Holder surrendering the same upon surrender of the Note or Notes to be exchanged
at the office or agency of the Company.

                  This Note shall be governed by, and construed in accordance
with, the internal laws of the State of New York.

<PAGE>

                                  ABBREVIATIONS

The following abbreviations, when used in the inscription on the face of this
instrument, shall be construed as though they were written out in full according
to applicable laws or regulations:

TEN COM -   as tenants in           UNIF GIFT MIN ACT -   ____ Custodian ____
            Common                                  (Cust)             (Minor)

TEN ENT -   as tenants by the                 Under Uniform Gifts to Minors Act
            Entireties

JT TEN -    as joints tenants with
            right of survivorship                      (State)
            and not as tenants in
            common

                    Additional abbreviations may also be used
                          though not on the above list.
                           ---------------------

                  FOR VALUE RECEIVED, the undersigned hereby sell(s) and
transfer(s) unto __________ (please insert Social Security or other identifying
number of assignee)

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING POSTAL ZIP CODE OF
ASSIGNEE

the within Note and all rights thereunder, hereby irrevocably constituting and
appointing

agent to transfer said Note on the books of the Company, with full power of
substitution in the premises.

Dated:  ________________                 __________________________________

                                                  ----------------------
                                         NOTICE:  The signature to
                                                  this assignment
                                                  must correspond
                                                  with the name as
                                                  written upon the
                                                  face of the within
                                                  instrument in
                                                  every particular
                                                  without alteration
                                                  or enlargement, or
                                                  any change
                                                  whatever.Exhibit 4.7-A

                         GEORGIA POWER CAPITAL TRUST VI

                              AMENDED AND RESTATED

                                 TRUST AGREEMENT

                                      among

                      GEORGIA POWER COMPANY, as Depositor,

                    JPMORGAN CHASE BANK, as Property Trustee,

      CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION, as Delaware Trustee,

                                       and

                        JANICE G. WOLFE and WAYNE BOSTON,
                           as Administrative Trustees

                          Dated as of November 1, 2002

<PAGE>
<TABLE>
<CAPTION>

                         GEORGIA POWER CAPITAL TRUST VI

              Certain Sections of this Trust Agreement relating to
                         Sections 310 through 318 of the
                          Trust Indenture Act of 1939:

Trust Indenture Act Section                                                            Trust Agreement Section

<S>                                                                                     <C>
Section 310(a)(1) ....................................................................................8.07
       (a)(2) ........................................................................................8.07
       (a)(3) ........................................................................................8.09
       (a)(4) ..............................................................................Not Applicable
       (b) ...........................................................................................8.08
Section 311(a) .......................................................................................8.13
       (b) ...........................................................................................8.13
Section 312(a) .......................................................................................5.07
       (b) ...........................................................................................5.07
       (c) ...........................................................................................5.07
Section 313(a) ....................................................................................8.14(a)
       (a)(4) .....................................................................................8.14(b)
       (b) ........................................................................................8.14(b)
       (c) ........................................................................................8.14(a)
       (d) ...............................................................................8.14(a), 8.14(b)
Section 314(a) .......................................................................................8.15
       (b) .................................................................................Not Applicable
       (c)(1) ..................................................................................8.15, 8.16
       (c)(2) ........................................................................................8.16
       (c)(3) ........................................................................................8.16
       (d) .................................................................................Not Applicable
       (e) ...........................................................................................8.16
Section 315(a) .......................................................................................8.01
       (b) ..................................................................................8.02, 8.14(b)
       (c) ........................................................................................8.01(a)
       (d) .....................................................................................8.01, 8.03
       (e) .................................................................................Not Applicable
Section 316(a) .............................................................................Not Applicable
       (a)(1)(A) .....................................................................................8.19
       (a)(1)(B) .....................................................................................8.19
       (a)(2) ..............................................................................Not Applicable
       (b) .................................................................................Not Applicable
       (c) .................................................................................Not Applicable
Section 317(a)(1) ..........................................................................Not Applicable
       (a)(2) ..............................................................................Not Applicable
       (b) ...........................................................................................5.09
Section 318(a) ......................................................................................11.10
--------------
Note:  This Cross Reference Table does not constitute part of the Trust Agreement and shall not affect the
interpretation of any of its terms and provisions.

</TABLE>

<PAGE>

<TABLE>
<CAPTION>

                                       iii

                                TABLE OF CONTENTS
                                                                                                               Page

<S>                                                                                                              <C>
Article I - Defined Terms.........................................................................................1
-------------------------
   Section 1.01.        Definitions...............................................................................1
   --------------       -----------

Article II - Establishment of the Trust..........................................................................10
---------------------------------------
   Section 2.01.        Name.....................................................................................10
   --------------       ----
   Section 2.02.        Offices of the Trustees; Principal Place of Business.....................................11
   --------------       ----------------------------------------------------
   Section 2.03.        Initial Contribution of Trust Property; Organizational Expenses..........................11
   --------------       ---------------------------------------------------------------
   Section 2.04.        Issuance of the Preferred Securities.....................................................11
   --------------       ------------------------------------
   Section 2.05.        Subscription and Purchase of Junior Subordinated Notes; Issuance of the Common Securities11
   --------------       -----------------------------------------------------------------------------------------
   Section 2.06.        Declaration of Trust.....................................................................12
   --------------       --------------------
   Section 2.07.        Authorization to Enter into Certain Transactions.........................................12
   --------------       ------------------------------------------------
   Section 2.08.        Assets of Trust..........................................................................17
   --------------       ---------------
   Section 2.09.        Title to Trust Property..................................................................17
   --------------       -----------------------
   Section 2.10.        Mergers and Consolidations of the Trust..................................................17
   --------------       ---------------------------------------

Article III - Payment Account....................................................................................18
-----------------------------
   Section 3.01.        Payment Account..........................................................................18
   --------------       ---------------

Article IV - Distributions; Redemption...........................................................................18
--------------------------------------
   Section 4.01.        Distributions............................................................................18
   -------------        -------------
   Section 4.02.        Distribution Rate........................................................................19
   --------------       -----------------
   Section 4.03.        Distribution Periods.....................................................................21
   --------------       --------------------
   Section 4.04.        Redemption...............................................................................21
   --------------       ----------
   Section 4.05.        Subordination of Common Securities and Distributions.....................................23
   --------------       ----------------------------------------------------
   Section 4.06.        Payment Procedures.......................................................................23
   --------------       ------------------
   Section 4.07.        Tax Returns and Reports..................................................................24
   -------------        -----------------------

Article V - Trust Securities Certificates........................................................................24
-----------------------------------------
   Section 5.01.        Initial Ownership........................................................................24
   -------------        -----------------
   Section 5.02.        The Trust Securities Certificates........................................................24
   -------------        ---------------------------------
   Section 5.03.        Authentication of Trust Securities Certificates..........................................24
   --------------       -----------------------------------------------
   Section 5.04.        Registration of Transfer and Exchange of Preferred Securities Certificates...............25
   --------------       --------------------------------------------------------------------------
   Section 5.05.        Mutilated, Destroyed, Lost or Stolen Trust Securities Certificates.......................25
   --------------       ------------------------------------------------------------------
   Section 5.06.        Persons Deemed Securityholders...........................................................26
   --------------       ------------------------------
   Section 5.07.        Access to List of Securityholders' Names and Addresses...................................26
   --------------       ------------------------------------------------------
   Section 5.08.        Maintenance of Office or Agency..........................................................26
   --------------       -------------------------------
   Section 5.09.        Appointment of Paying Agent..............................................................27
   --------------       ---------------------------
   Section 5.10.        Ownership of Common Securities by Depositor..............................................27
   --------------       -------------------------------------------
   Section 5.11.        Book-Entry Preferred Securities  Certificates; Common Securities Certificate.............27
   --------------       -----------------------------------------------------------------------------
   Section 5.12.        Notices to Clearing Agency...............................................................28
   --------------       --------------------------
   Section 5.13.        Definitive Preferred Securities Certificates.............................................28
   --------------       --------------------------------------------
   Section 5.14.        Rights of Securityholders................................................................29
   --------------       -------------------------

Article VI - Acts of Securityholders' Meetings; Voting...........................................................29
------------------------------------------------------
   Section 6.01.        Limitations on Voting Rights.............................................................29
   --------------       ----------------------------
   Section 6.02.        Notice of Meetings.......................................................................31
   --------------       ------------------
   Section 6.03.        Meetings of Preferred Securityholders....................................................31
   --------------       -------------------------------------
   Section 6.04.        Voting Rights............................................................................31
   --------------       -------------
   Section 6.05.        Proxies, etc.............................................................................31
   --------------       -------------
   Section 6.06.        Securityholder Action by Written Consent.................................................32
   --------------       ----------------------------------------
   Section 6.07.        Record Date for Voting and Other Purposes................................................32
   --------------       -----------------------------------------
   Section 6.08.        Acts of Securityholders..................................................................32
   --------------       -----------------------
   Section 6.09.        Inspection of Records....................................................................33
   --------------       ---------------------

Article VII -Representations and Warranties of the Trustees......................................................33
-----------------------------------------------------------
   Section 7.01.        Representations and Warranties of the Trustees...........................................33
   --------------       ----------------------------------------------

Article VIII - The Trustees......................................................................................34
---------------------------
   Section 8.01.        Certain Duties and Responsibilities......................................................34
   --------------       ------------------------------------
   Section 8.02.        Notice of Defaults.......................................................................35
   --------------       ------------------
   Section 8.03.        Certain Rights of Property Trustee.......................................................35
   --------------       ----------------------------------
   Section 8.04.        Not Responsible for Recitals or Issuance of Securities...................................36
   --------------       ------------------------------------------------------
   Section 8.05.        May Hold Securities......................................................................36
   --------------       -------------------
   Section 8.06.        Compensation; Fees; Indemnity............................................................36
   --------------       ------------------------------
   Section 8.07.        Trustees Required; Eligibility...........................................................37
   --------------       -------------------------------
   Section 8.08.        Conflicting Interests....................................................................37
   --------------       ---------------------
   Section 8.09.        Co-Trustees and Separate Trustee.........................................................38
   --------------       --------------------------------
   Section 8.10.        Resignation and Removal; Appointment of Successor........................................39
   --------------       -------------------------------------------------
   Section 8.11.        Acceptance of Appointment by Successor...................................................40
   --------------       --------------------------------------
   Section 8.12.        Merger, Conversion, Consolidation or Succession to Business..............................41
   --------------       -----------------------------------------------------------
   Section 8.13.        Preferential Collection of Claims Against Depositor or Trust.............................41
   --------------       ------------------------------------------------------------
   Section 8.14.        Reports by Property Trustee..............................................................42
   --------------       ----------------------------
   Section 8.15.        Reports to the Property Trustee..........................................................42
   --------------       -------------------------------
   Section 8.16.        Evidence of Compliance with Conditions Precedent.........................................42
   --------------       ------------------------------------------------
   Section 8.17.        Number of Trustees.......................................................................42
   --------------       -------------------
   Section 8.18.        Delegation of Power......................................................................43
   --------------       --------------------
   Section 8.19.        Enforcement of Rights of Property Trustee by Securityholders.............................43
   --------------       ------------------------------------------------------------
   Section 8.20.        Delaware Trustee.........................................................................44
   --------------       -----------------

Article IX - Termination and Liquidation.........................................................................44
----------------------------------------
   Section 9.01.        Termination Upon Expiration Date.........................................................44
   --------------       --------------------------------
   Section 9.02.        Early Termination........................................................................44
   --------------       -----------------
   Section 9.03.        Termination..............................................................................45
   --------------       -----------
   Section 9.04.        Liquidation..............................................................................45
   --------------       ------------
   Section 9.05.        Bankruptcy...............................................................................46
   --------------       ----------
   Section 9.06.        Certificate of Cancellation..............................................................46
   --------------       ---------------------------

Article X - Remarketing Procedures...............................................................................46
----------------------------------
   Section 10.01.       Election of Remarket.....................................................................46
   --------------       --------------------
   Section 10.02.       Notice of Election.......................................................................47
   --------------       ------------------
   Section 10.03.       Determination of Distribution Rate.......................................................48
   --------------       ----------------------------------

Article XI - Miscellaneous Provisions............................................................................49
-------------------------------------
   Section 11.01.       Guarantee by the Depositor...............................................................49
   ---------------      --------------------------
   Section 11.02.       Limitation of Rights of Securityholders..................................................49
   ---------------      ---------------------------------------
   Section 11.03.       Amendment................................................................................49
   ---------------      ----------
   Section 11.04.       Separability.............................................................................50
   ---------------      ------------
   Section 11.05.       Governing Law............................................................................51
   ---------------      -------------
   Section 11.06.       Successors...............................................................................51
   ---------------      ----------
   Section 11.07.       Headings.................................................................................51
   ---------------      --------
   Section 11.08.       Notice and Demand........................................................................51
   ---------------      -----------------
   Section 11.09.       Agreement Not to Petition................................................................52
   ---------------      -------------------------
   Section 11.10.       Conflict with Trust Indenture Act........................................................52
   ---------------      ----------------------------------

EXHIBIT A - Form of Preferred Security............................................................................1
--------------------------------------
EXHIBIT B - Agreement as to Expenses and Liabilities..............................................................1
----------------------------------------------------
EXHIBIT C - Form of Common Security...............................................................................1
-----------------------------------

</TABLE>

<PAGE>

                      AMENDED AND RESTATED TRUST AGREEMENT

                  THIS AMENDED AND RESTATED TRUST AGREEMENT is made as of
November 1, 2002, by and among (i) Georgia Power Company, a Georgia corporation
(the "Depositor" or the "Company"), (ii) JPMorgan Chase Bank, a banking
corporation duly organized and existing under the laws of New York, as trustee
(the "Property Trustee" and, in its separate corporate capacity and not in its
capacity as Trustee, the "Bank"), (iii) Chase Manhattan Bank USA, National
Association (successor to Chase Manhattan Bank Delaware), a national banking
association duly organized under the laws of the United States of America, as
Delaware trustee (the "Delaware Trustee" and, in its separate corporate capacity
and not in its capacity as Delaware Trustee, the "Delaware Bank"), (iv) Janice
G. Wolfe, an individual, and Wayne Boston, an individual, as administrative
trustees (each an "Administrative Trustee" and together the "Administrative
Trustees") (the Property Trustee, the Delaware Trustee and the Administrative
Trustees referred to collectively as the "Trustees") and (v) the several
Holders, as hereinafter defined.

                                   WITNESSETH:

                  WHEREAS, the Depositor and the Delaware Trustee have
heretofore duly declared and established a business trust pursuant to the
Delaware Statutory Trust Act by the entering into that certain Trust Agreement,
dated as of December 16, 1997 (the "Original Trust Agreement"), and by the
execution and filing by the Delaware Trustee with the Secretary of State of the
State of Delaware of the Certificate of Trust, dated December 16, 1997; and

                  WHEREAS, the parties hereto desire to amend and restate the
Original Trust Agreement in its entirety as set forth herein to provide for,
among other things, (i) the addition of the Bank, Janice G. Wolfe and Wayne
Boston as trustees of the Trust, (ii) the acquisition by the Trust from the
Depositor of all of the right, title and interest in the Junior Subordinated
Notes, (iii) the issuance of the Common Securities by the Trust to the Depositor
and (iv) the issuance and sale of the Preferred Securities by the Trust pursuant
to the Underwriting Agreement.

                  NOW THEREFORE, in consideration of the agreements and
obligations set forth herein and for other good and valuable consideration, the
sufficiency of which is hereby acknowledged, each party, for the benefit of the
other parties and for the benefit of the Securityholders, hereby amends and
restates the Original Trust Agreement in its entirety and agrees as follows:

                                    Article I

                                  Defined Terms

                  Section 1.01.   Definitions.  For all  purposes of this Trust
Agreement,  except as  otherwise  expressly provided or unless the context
otherwise requires:

                  (a) the terms defined in this Article have the meanings
assigned to them in this Article and include the plural as well as the singular;

                  (b) all other terms used herein that are defined in the Trust
Indenture Act, either directly or by reference therein, have the meanings
assigned to them therein;

                  (c) unless the context otherwise requires, any reference to an
"Article" or a "Section" refers to an Article or a Section, as the case may be,
of this Trust Agreement; and

                  (d) the words "herein," "hereof" and "hereunder" and other
words of similar import refer to this Trust Agreement as a whole and not to any
particular Article, Section or other subdivision.

                  "Act" has the meaning specified in Section 6.08.

                  "Additional Amount" means, with respect to Trust Securities of
a given Liquidation Amount and/or a given period, an amount equal to the
Additional Interest (as defined in clause (ii) of the definition of "Additional
Interest" in the Subordinated Indenture) paid by the Depositor on a Like Amount
of Junior Subordinated Notes for such period.

                  "Administrative Trustee" means each of the individuals
identified as an "Administrative Trustee" in the preamble to this Trust
Agreement solely in their capacities as Administrative Trustees of the Trust
formed and continued hereunder and not in their individual capacities, or such
trustee's successor(s) in interest in such capacity, or any successor
"Administrative Trustee" appointed as herein provided.

                  "Affiliate" of any specified Person means any other Person
directly or indirectly controlling or controlled by or under direct or indirect
common control with such specified Person. For the purposes of this definition,
"control" when used with respect to any specified Person means the power to
direct the management and policies of such Person, directly or indirectly,
whether through the ownership of voting securities, by contract or otherwise;
and the terms "controlling" and "controlled" have meanings correlative to the
foregoing.

                  "Bank" has the meaning specified in the preamble to this Trust
Agreement.

                  "Bankruptcy Event" means, with respect to any Person:

                           (i) the entry of a decree or order by a court having
                  jurisdiction in the premises judging such Person a bankrupt or
                  insolvent, or approving as properly filed a petition seeking
                  reorganization, arrangement, adjudication or composition of or
                  in respect of such Person under federal bankruptcy law or any
                  other applicable federal or state law, or appointing a
                  receiver, liquidator, assignee, trustee, sequestrator or other
                  similar official of such Person or of any substantial part of
                  its property, or ordering the winding up or liquidation of its
                  affairs, and the continuance of such decree or order unstayed
                  and in effect for a period of 60 consecutive days; or

                           (ii) the institution by such Person of proceedings to
                  be adjudicated a bankrupt or insolvent, or the consent by it
                  to the institution of bankruptcy or insolvency proceedings
                  against it, or the filing by it of a petition or answer or
                  consent seeking reorganization or relief under federal
                  bankruptcy law or any other applicable federal or state law,
                  or the consent by it to the filing of such petition or to the
                  appointment of a receiver, liquidator, assignee, trustee,
                  sequestrator or similar official of such Person or of any
                  substantial part of its property, or the making by it of an
                  assignment for the benefit of creditors, or the admission by
                  it in writing of its inability to pay its debts generally as
                  they become due, or the taking of action by such Person in
                  furtherance of any such action.

                  "Bankruptcy Laws" has the meaning specified in Section 11.09.

                  "Board Resolution" means a copy of a resolution certified by
the Secretary or an Assistant Secretary of the Depositor to have been duly
adopted by the Depositor's Board of Directors or a duly authorized committee
thereof and to be in full force and effect on the date of such certification,
and delivered to the Trustees.

                  "Book-Entry Preferred Securities Certificates" means
certificates representing Preferred Securities issued in global, fully
registered form to the Clearing Agency as described in Section 5.11.

                  "Business Day" means a day other than (i) a Saturday or a
Sunday, (ii) a day on which banks in New York, New York are authorized or
obligated by law or executive order to remain closed, (iii) a day on which the
Corporate Trust Office or the Indenture Trustee's principal corporate trust
office is closed for business or (iv) a day on which the New York Stock Exchange
is closed.

                  "Calculation Agent" means JPMorgan Chase Bank, its successors
and assigns, or such other bank or trust company appointed to such capacity by
the Company and the Administrative Trustees.

                  "Calculation Agent Agreement" means the agreement among the
Company, the Trust and JPMorgan Chase Bank, as calculation agent, dated as of
November 6, 2002.

                  "Certificate Depository Agreement" means the agreement among
the Trust, the Property Trustee and The Depository Trust Company, as the initial
Clearing Agency, dated as of November 5, 2002, relating to the Preferred
Securities Certificates.

                  "Clearing Agency" means an organization registered as a
"clearing agency" pursuant to Section 17A of the Exchange Act. The Depository
Trust Company will be the initial Clearing Agency.

                  "Clearing Agency Participant" means a broker, dealer, bank,
other financial institution or other Person for whom from time to time a
Clearing Agency effects book-entry transfers and pledges of securities deposited
with the Clearing Agency.

                  "Code" means the Internal Revenue Code of 1986, as amended.

                  "Commission" means the Securities and Exchange Commission, as
from time to time constituted, created under the Exchange Act, or, if at any
time after the execution of this instrument such Commission is not existing and
performing the duties now assigned to it under the Trust Indenture Act, then the
body performing such duties at such time.

                  "Common Security" means an undivided beneficial ownership
interest in the assets of the Trust having a Liquidation Amount of $1,000 and
having the rights provided therefor in this Trust Agreement, including the right
to receive Distributions and a Liquidation Distribution as provided herein.

                  "Common Securities Certificate" means a certificate evidencing
ownership of a Common Security or Securities, substantially in the form attached
as Exhibit C.

                  "Company" means Georgia Power Company.

                  "Corporate Trust Office" means the office of the Property
Trustee at which its corporate trust business shall be principally administered.

                  "Definitive Preferred Securities Certificates" means either or
both (as the context requires) of (i) Preferred Securities Certificates issued
in certificated, fully registered form as provided in Section 5.11(a) and (ii)
Preferred Securities Certificates issued in certificated, fully registered form
as provided in Section 5.13.

                  "Delaware Bank" has the meaning specified in the preamble to
this Trust Agreement.

                  "Delaware Statutory Trust Act" means Chapter 38 of Title 12 of
the Delaware Code, 12 Del. Code Section 3801 et seq., as it may be amended from
time to time.

                  "Delaware Trustee" means the commercial bank or trust company
or any other Person identified as the "Delaware Trustee" and has the meaning
specified in the preamble to this Trust Agreement solely in its capacity as
Delaware Trustee of the Trust formed and continued hereunder and not in its
individual capacity, or its successor in interest in such capacity, or any
successor Delaware Trustee appointed as herein provided.

                  "Depositor" means Georgia Power Company, in its capacity as
"Depositor" under this Trust Agreement.

                  "Distribution Payment Date" means each day on which
Distributions are payable determined based on the prevailing Distribution Rate.

                  "Distribution Period" means each semiannual period in a Fixed
Rate Period and each quarterly period in a Floating Rate Period for which
Distributions are payable.

                  "Distribution Rate" means the rate at which Distributions will
accrue in respect of any Distribution Period, as determined pursuant to the
terms of this Trust Agreement, whether by Remarketing or otherwise.

                  "Distributions" means amounts payable in respect of the Trust
Securities as provided in Section 4.01.

                  "Election Date" means a date that is no later than the fifth
Business Day prior to the proposed Remarketing Date.

                  "Event of Default" means any one of the following events
(whatever the reason for such Event of Default and whether it shall be voluntary
or involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

                           (i) the occurrence of an Indenture Event of Default;
                  or

                           (ii) default by the Trust in the payment of any
                  Distribution when it becomes due and payable, and continuation
                  of such default for a period of 30 days; or

                           (iii) default by the Trust in the payment of any
                  Redemption Price of any Trust Security when it becomes due and
                  payable; or

                           (iv) default in the performance, or breach, of any
                  covenant or warranty of the Trustees in this Trust Agreement
                  (other than a covenant or warranty a default in whose
                  performance or breach is dealt with in clause (ii) or (iii)
                  above) and continuation of such default or breach for a period
                  of 60 days after there has been given, by registered or
                  certified mail, to the Trustees by the Holders of at least 10%
                  in Liquidation Amount of the Outstanding Preferred Securities
                  a written notice specifying such default or breach and
                  requiring it to be remedied and stating that such notice is a
                  "Notice of Default" hereunder; or

                           (v) the occurrence of a Bankruptcy Event with respect
                  to the Trust.

                  "Exchange Act" means the Securities Exchange Act of 1934, as
amended.

                  "Expense Agreement" means the Agreement as to Expenses and
Liabilities between the Company and the Trust, substantially in the form
attached as Exhibit B, as amended from time to time.

                  "Extension Period" has the meaning specified in Section
4.01(d).

                  "Fixed Rate" means the Distribution Rate during a Fixed Rate
Period as determined by a Remarketing.

                  "Fixed Rate Period" means the Initial Fixed Rate Period and
each period set by the Company and the Administrative Trustees during a
Remarketing for which the Fixed Rate determined in such Remarketing will apply;
provided, however, that a Fixed Rate Period must be for a duration of at least
six months, may not extend beyond the stated maturity of the Junior Subordinated
Notes and may not end on a day other than a day immediately preceding a
Distribution Payment Date.

                  "Floating Rate" means 3-month LIBOR plus 3.05% reset
quarterly.

                  "Floating Rate Determination Date" means the second London
Business Day immediately preceding the first day of the relevant Distribution
Period in the Floating Rate Period.

                  "Floating Rate Period" means any period during which a
Floating Rate is in effect.

                  "Guarantee" means the Guarantee Agreement executed and
delivered by the Company and JPMorgan Chase Bank, as Guarantee Trustee,
contemporaneously with the execution and delivery of this Trust Agreement, for
the benefit of the Holders of the Preferred Securities, as amended from time to
time.

                  "Indenture Event of Default" means an "Event of Default" as
defined in the Subordinated Indenture.

                  "Indenture Redemption Date" means "Redemption Date," as
defined in the Subordinated Indenture.

                  "Indenture Trustee" means the trustee under the Subordinated
Indenture.

                  "Initial Distribution Rate" means 4.875% per annum.

                  "Initial Fixed Rate Period" means the Issue Date through
October 31, 2007.

                  "Issue Date" means the date of the delivery of the Trust
Securities.

                  "Junior Subordinated Notes" means the $309,279,000 aggregate
principal amount of the Depositor's Series F Junior Subordinated Notes due
November 1, 2042, issued pursuant to the Subordinated Indenture.

                  "Lien" means any lien, pledge, charge, encumbrance, mortgage,
deed of trust, adverse ownership interest, hypothecation, assignment, security
interest or preference, priority or other security agreement or preferential
arrangement of any kind or nature whatsoever.

                  "Like Amount" means (i) Trust Securities having a Liquidation
Amount equal to the principal amount of Junior Subordinated Notes to be
contemporaneously redeemed in accordance with the Subordinated Indenture and the
proceeds of which will be used to pay the Redemption Price of such Trust
Securities and (ii) Junior Subordinated Notes having a principal amount equal to
the Liquidation Amount of the Trust Securities of the Holder to whom such Junior
Subordinated Notes are distributed.

                  "Liquidation Amount" means the stated amount of $1,000 per
Trust Security.

                  "Liquidation Date" means the date on which Junior Subordinated
Notes are to be distributed to Holders of Trust Securities in connection with a
dissolution and liquidation of the Trust pursuant to Section 9.04.

                  "Liquidation Distribution" has the meaning specified in
Section 9.05.

                  "London Business Day" means a day that is a Business Day and a
day on which dealings in deposits in U.S. dollars are transacted, or with
respect to any future date are expected to be transacted, in the London
interbank market.

                  "Officers' Certificate" means a certificate signed by the
Chairman of the Board, a Vice Chairman of the Board, the President or a Vice
President, and by the Treasurer, an Assistant Treasurer, the Secretary or an
Assistant Secretary, of the Depositor, and delivered to the appropriate Trustee.
One of the officers signing an Officers' Certificate given pursuant to Section
8.16 shall be the principal executive, financial or accounting officer of the
Depositor. An Officers' Certificate delivered with respect to compliance with a
condition or covenant provided for in this Trust Agreement shall include:

                  (a) a statement that each officer signing the Officers'
Certificate has read the covenant or condition and the definitions relating
thereto;

                  (b) a brief statement of the nature and scope of the
examination or investigation undertaken by each officer in rendering the
Officers' Certificate;

                  (c) a statement that each such officer has made such
examination or investigation as is necessary, in such officer's opinion, to
express an informed opinion as to whether or not such covenant or condition has
been complied with; and

                  (d) a statement as to whether, in the opinion of each such
officer, such condition or covenant has been complied with.

                  "Opinion of Counsel" means a written opinion of counsel, who
may be counsel for the Trust, the Trustees or the Depositor, but not an employee
of the Trust or the Trustees, and who shall be reasonably acceptable to the
Property Trustee. Any Opinion of Counsel pertaining to federal income tax
matters may rely on published rulings of the Internal Revenue Service.

                  "Original Trust Agreement" has the meaning specified in the
recitals to this Trust Agreement.

                  "Outstanding", when used with respect to Preferred Securities,
means, as of the date of determination, all Preferred Securities theretofore
authenticated and delivered under this Trust Agreement, except:

                           (i) Preferred Securities theretofore canceled by the
                  Administrative Trustees or delivered to the Administrative
                  Trustees for cancellation;

                           (ii) Preferred Securities for whose payment or
                  redemption money in the necessary amount has been theretofore
                  deposited with the Property Trustee or any Paying Agent for
                  the Holders of such Preferred Securities; provided that if
                  such Preferred Securities are to be redeemed, notice of such
                  redemption has been duly given pursuant to this Trust
                  Agreement; and

                           (iii) Preferred Securities in exchange for or in lieu
                  of which other Preferred Securities have been authenticated
                  and delivered pursuant to this Trust Agreement;

provided, however, that in determining whether the Holders of the requisite
Liquidation Amount of the Outstanding Preferred Securities have given any
request, demand, authorization, direction, notice, consent or waiver hereunder,
Preferred Securities owned by the Depositor, the Holder of the Common
Securities, any Trustee or any Affiliate of the Depositor or any Trustee shall
be disregarded and deemed not to be Outstanding, except that (a) in determining
whether any Trustee shall be protected in relying upon any such request, demand,
authorization, direction, notice, consent or waiver, only Preferred Securities
which such Trustee knows to be so owned shall be so disregarded and (b) the
foregoing shall not apply at any time when all of the outstanding Preferred
Securities are owned by the Depositor, the Holder of the Common Securities, one
or more Trustees and/or any such Affiliate. Preferred Securities so owned which
have been pledged in good faith may be regarded as Outstanding if the pledgee
establishes to the satisfaction of the Administrative Trustees the pledgee's
right so to act with respect to such Preferred Securities and that the pledgee
is not the Depositor or any Affiliate of the Depositor.

                  "Owner" means each Person who is the beneficial owner of a
Book-Entry Preferred Securities Certificate as reflected in the records of the
Clearing Agency or, if a Clearing Agency Participant is not the Owner, then as
reflected in the records of a Person maintaining an account with such Clearing
Agency (directly or indirectly, in accordance with the rules of such Clearing
Agency).

                  "Paying Agent" means any paying agent or co-paying agent
appointed pursuant to Section 5.09 and shall initially be the Property Trustee.

                  "Payment Account" means a segregated non-interest-bearing
corporate trust account maintained by the Property Trustee for the benefit of
the Securityholders in which all amounts paid in respect of the Junior
Subordinated Notes will be held and from which the Property Trustee shall make
payments to the Securityholders in accordance with Section 4.01.

                  "Person" means an individual, corporation, partnership, joint
venture, trust, limited liability company or corporation, unincorporated
organization or government or any agency or political subdivision thereof.

                  "Preferred Securities Certificate" means a certificate
evidencing ownership of a Preferred Security or Securities, substantially in the
form attached as Exhibit A.

                  "Preferred Security" means an undivided beneficial ownership
interest in the assets of the Trust having a Liquidation Amount of $1,000 and
having rights provided therefor in this Trust Agreement, including the right to
receive Distributions and a Liquidation Distribution as provided herein.

                  "Property Trustee" means the commercial bank or trust company
identified as the "Property Trustee" in the preamble to this Trust Agreement
solely in its capacity as Property Trustee of the Trust formed and continued
hereunder and not in its individual capacity, or its successor in interest in
such capacity, or any successor "Property Trustee" as herein provided.

                  "Record Date" means the opening of business on the Business
Day immediately preceding the relevant Distribution Payment Date.

                  "Redemption Date" means, with respect to any Trust Security to
be redeemed, the date fixed for such redemption by or pursuant to this Trust
Agreement; provided that each Indenture Redemption Date shall be a Redemption
Date for a Like Amount of Trust Securities.

                  "Redemption Price" means, with respect to any date fixed for
redemption of any Trust Security, the Liquidation Amount of such Trust Security,
plus accrued and unpaid Distributions to such date.

                  "Relevant Trustee" shall have the meaning specified in Section
8.10.

                  "Remarketing" means the conduct by which a Fixed Rate shall be
determined in accordance with the Remarketing Procedures.

                  "Remarketing Agent" means Lehman Brothers Inc., its successors
or assigns, or such other remarketing agent appointed to such capacity by the
Company and the Administrative Trustees.

                  "Remarketing Agreement" means the agreement among the Company,
the Trust and Lehman Brothers Inc., as remarketing agent, dated as of November
6, 2002.

                  "Remarketing Date" means any Business Day no later than the
third Business Day prior to any Remarketing Settlement Date.

                  "Remarketing Procedures" means those procedures set forth in
Article X.

                  "Remarketing Settlement Date" means (i) the first Business Day
of the next Distribution Period following the expiration of the Initial Fixed
Rate Period, (ii) any Distribution Payment Date during a Floating Rate Period or
(iii) any Distribution Payment Date during a time in which Preferred Securities
are redeemable in a Fixed Rate Period subsequent to the Initial Fixed Rate
Period.

                  "Securities Register" and "Securities Registrar" are described
in Section 5.04.

                  "Securityholder" or "Holder" means a Person in whose name a
Trust Security or Securities is registered in the Securities Register; and any
such Person who is a beneficial owner within the meaning of the Delaware
Statutory Trust Act.

                  "Subordinated Indenture" means the Subordinated Note
Indenture, dated as of June 1, 1997, between the Depositor and the Indenture
Trustee, as heretofore supplemented and as further supplemented by the
Supplemental Indenture.

                  "Supplemental Indenture" means the Fourth Supplemental
Indenture, dated as of November 6, 2002, by and between the Depositor and the
Indenture Trustee.

                  "Telerate Page 3750" means the display designated on page 3750
on Moneyline Telerate (or such other page as may replace the 3750 page on the
service or such other service as may be nominated by the British Bankers'
Association for the purpose of displaying London interbank offered rates for
U.S. dollar deposits).

                  "3-month LIBOR" means for any Floating Rate Determination
Date, the offered rate in U.S. dollars having an index maturity of three months
for a period commencing on the second London Business Day immediately following
the Floating Rate Determination Date in amounts of not less than $1,000,000, as
such rate appears on Telerate Page 3750 or a successor reporter of such rates
selected by the Calculation Agent and acceptable to the Company, at
approximately 11:00 a.m., London time, on the Floating Rate Determination Date.

                  "Trust" means the Delaware statutory trust continued hereby
and identified on the cover page to this Trust Agreement.

                  "Trust Agreement" means this Amended and Restated Trust
Agreement, as the same may be modified, amended or supplemented in accordance
with the applicable provisions hereof, including all exhibits hereto, including,
for all purposes of this Amended and Restated Trust Agreement and any
modification, amendment or supplement, the provisions of the Trust Indenture Act
that are deemed to be a part of and govern this Amended and Restated Trust
Agreement and any such modification, amendment or supplement, respectively.

                  "Trustees" means the Persons identified as "Trustees" in the
preamble to this Trust Agreement solely in their capacities as Trustees of the
Trust formed and continued hereunder and not in their individual capacities, or
their successor in interest in such capacity, or any successor trustee appointed
as herein provided.

                  "Trust Indenture Act" means the Trust Indenture Act of 1939 as
in force at the date as of which this instrument was executed; provided,
however, that in the event the Trust Indenture Act of 1939 is amended after such
date, "Trust Indenture Act" means, to the extent required by any such amendment,
the Trust Indenture Act of 1939 as so amended.

                  "Trust Property" means (i) the Junior Subordinated Notes, (ii)
any cash on deposit in, or owing to, the Payment Account, and (iii) all proceeds
and rights in respect of the foregoing and any other property and assets for the
time being held or deemed to be held by the Property Trustee pursuant to this
Trust Agreement.

                  "Trust Securities Certificate" means any one of the Common
Securities Certificates or the Preferred Securities Certificates.

                  "Trust Security" means any one of the Common Securities or the
Preferred Securities.

                  "Underwriting Agreement" means the Underwriting Agreement,
dated October 30, 2002, among the Trust, the Depositor and the underwriters
named therein.

                                   Article II

                           Establishment of the Trust

                  Section 2.01.     Name

                  The Trust continued hereby shall be known as "Georgia Power
Capital Trust VI", in which name the Trustees may conduct the business of the
Trust, make and execute contracts and other instruments on behalf of the Trust
and sue and be sued. The Administrative Trustees may change the name of the
Trust from time to time following written notice to the Holders.

                  Section 2.02.     Offices of the Trustees; Principal Place of
Business

                  The address of the Property Trustee is JPMorgan Chase Bank,
450 West 33rd Street, New York, New York 10001, or at such other address as the
Property Trustee may designate by written notice to the Securityholders and the
Depositor. The principal place of business of the Delaware Trustee is c/o
JPMorgan Chase Bank, 500 Stanton Christiana Road, Building 4 (3rd Floor),
Newark, Delaware 19713, or at such other address in Delaware as the Delaware
Trustee may designate by notice to the Depositor. The address of the
Administrative Trustees is c/o Georgia Power Company, 241 Ralph McGill
Boulevard, N.E., Atlanta, Georgia 30308-3374, Attention: Corporate Secretary.
The principal place of business of the Trust is c/o Georgia Power Company, 241
Ralph McGill Boulevard, N.E., Atlanta, Georgia 30308-3374. The Depositor may
change the principal place of business of the Trust at any time by giving notice
thereof to the Trustees.

                  Section 2.03.     Initial Contribution of Trust Property;
Organizational Expenses

                  The Delaware Trustee acknowledges receipt in trust from the
Depositor in connection with the Original Trust Agreement of the sum of $10,
which constituted the initial Trust Property. The Depositor shall pay
organizational expenses of the Trust as they arise or shall, upon request of the
Trustees, promptly reimburse the Trustees for any such expenses paid by the
Trustees. The Depositor shall make no claim upon the Trust Property for the
payment of such expenses.

                  Section 2.04.     Issuance of the Preferred Securities

                  Contemporaneously with the execution and delivery of this
Trust Agreement, the Administrative Trustees, on behalf of the Trust, shall
execute and deliver to the underwriters named in the Underwriting Agreement
Preferred Securities Certificates, registered in the name of the nominee of the
initial Clearing Agency, in an aggregate amount of 300,000 Preferred Securities
having an aggregate Liquidation Amount of $300,000,000, against receipt of the
aggregate purchase price of such Preferred Securities of $298,365,000, which
amount the Administrative Trustees shall promptly deliver to the Property
Trustee.

                  Section 2.05.     Subscription and Purchase of Junior
Subordinated Notes; Issuance of the Common Securities

                  Contemporaneously with the execution and delivery of this
Trust Agreement, the Administrative Trustees, on behalf of the Trust, shall
execute and deliver to the Depositor Common Securities Certificates, registered
in the name of the Depositor, in an aggregate amount of 9,279 Common Securities
having an aggregate Liquidation Amount of $9,279,000 against payment by the
Depositor of such amount. Contemporaneously therewith, the Administrative
Trustees, on behalf of the Trust, shall subscribe to and purchase from the
Depositor Junior Subordinated Notes, registered in the name of the Property
Trustee, on behalf of the Trust and the Holders, and having an aggregate
principal amount equal to $309,279,000, and, in satisfaction of the purchase
price for such Junior Subordinated Notes, the Property Trustee, on behalf of the
Trust, shall deliver to the Depositor the sum of $307,644,000.

                  Section 2.06.     Declaration of Trust

         The exclusive purposes and functions of the Trust are (i) to issue and
sell the Trust Securities and use the proceeds from such sale to acquire the
Junior Subordinated Notes, and (ii) to engage in those activities necessary,
incidental, appropriate or convenient thereto. The Depositor hereby appoints
each of the Bank, the Delaware Bank, Janice G. Wolfe, and Wayne Boston as
trustees of the Trust, to have all the rights, powers and duties to the extent
set forth herein. The Property Trustee hereby declares that it will hold the
Trust Property in trust upon and subject to the conditions set forth herein for
the benefit of the Trust and the Securityholders. The Trustees shall have all
rights, powers and duties set forth herein and in accordance with applicable law
with respect to accomplishing the purposes of the Trust. The Delaware Trustee
shall not be entitled to exercise any powers, nor shall the Delaware Trustee
have any of the duties and responsibilities, of the Property Trustee or the
Administrative Trustees set forth herein. The Delaware Trustee shall be one of
the Trustees for the sole and limited purpose of fulfilling the requirements of
the Delaware Statutory Trust Act.

              Section 2.07.    Authorization to Enter into Certain Transactions

                  The Trustees shall conduct the affairs of the Trust in
accordance with the terms of this Trust Agreement. Subject to the limitations
set forth in paragraph (c) of this Section, and in accordance with the following
paragraphs (a) and (b), the Trustees shall have the authority to enter into all
transactions and agreements determined by the Trustees to be appropriate in
exercising the authority, express or implied, otherwise granted to the Trustees
under this Trust Agreement, and to perform all acts in furtherance thereof,
including without limitation, the following:

                  (a) As among the Trustees, the Administrative Trustees, acting
singly or jointly, shall have the exclusive power, duty and authority to act on
behalf of the Trust with respect to the following matters:

                           (i) to acquire the Junior Subordinated Notes with the
                  proceeds of the sale of the Trust Securities; provided,
                  however, the Administrative Trustees shall cause legal title
                  to all of the Junior Subordinated Notes to be vested in, and
                  the Junior Subordinated Notes to be held of record in the name
                  of, the Property Trustee for the benefit of the Trust and
                  Holders of the Trust Securities;

                           (ii) to give the Depositor and the Property Trustee
                  prompt written notice of the occurrence of any Special Event
                  (as defined in the Supplemental Indenture) and to take any
                  ministerial actions in connection therewith; provided, that
                  the Administrative Trustees shall consult with the Depositor
                  and the Property Trustee before taking or refraining to take
                  any ministerial action in relation to a Special Event;

                           (iii) to establish a record date with respect to all
                  actions to be taken hereunder that require a record date be
                  established, including for the purposes of ss. 316(c) of the
                  Trust Indenture Act and with respect to Distributions, voting
                  rights, redemptions, and exchanges, and to issue relevant
                  notices to Holders of the Trust Securities as to such actions
                  and applicable record dates;

                           (iv) to bring or defend, pay, collect, compromise,
                  arbitrate, resort to legal action, or otherwise adjust claims
                  or demands of or against the Trust ("Legal Action"), unless
                  pursuant to Section 2.07(b)(v), the Property Trustee has the
                  power to bring such Legal Action;

                           (v) to employ or otherwise engage employees and
                  agents (who may be designated as officers with titles) and
                  managers, contractors, advisors, and consultants and pay
                  reasonable compensation for such services;

                           (vi) to cause the Trust to comply with the Trust's
                  obligations under the Trust Indenture Act;

                           (vii) to give the certificate to the Property Trustee
                  required by ss. 314(a)(4) of the Trust Indenture Act, which
                  certificate may be executed by any Administrative Trustee;

                           (viii) to take all actions and perform such duties as
                  may be required of the Administrative Trustees pursuant to the
                  terms of this Trust Agreement, the Remarketing Agreement and
                  the Calculation Agent Agreement;

                           (ix) to take all action that may be necessary or
                  appropriate for the preservation and the continuation of the
                  Trust's valid existence, rights, franchises and privileges as
                  a statutory business trust under the laws of the State of
                  Delaware and of each other jurisdiction in which such
                  existence is necessary to protect the limited liability of the
                  Holders of the Trust Securities or to enable the Trust to
                  effect the purposes for which the Trust has been created;

                           (x) to take all action necessary to cause all
                  applicable tax returns and tax information reports that are
                  required to be filed with respect to the Trust to be duly
                  prepared and filed by the Administrative Trustees, on behalf
                  of the Trust;

                           (xi) to issue and sell the Trust Securities;

                           (xii) to cause the Trust to enter into, and to
                  execute, deliver and perform on behalf of the Trust, the
                  Remarketing Agreement, the Calculation Agent Agreement, the
                  Expense Agreement and the Certificate Depository Agreement and
                  such other agreements as may be necessary or desirable in
                  connection with the consummation hereof;

                           (xiii) to assist in the registration of the Preferred
                  Securities under the Securities Act of 1933, as amended, and
                  under state securities or blue sky laws, and the qualification
                  of this Trust Agreement as a trust indenture under the Trust
                  Indenture Act;

                           (xiv) to assist in the listing of the Preferred
                  Securities upon such securities exchange or exchanges, if
                  necessary and as shall be determined by the Depositor, and the
                  registration of the Preferred Securities under the Exchange
                  Act, and the preparation and filing of all periodic and other
                  reports and other documents pursuant to the foregoing;

                           (xv) to send notices (other than notices of default)
                  and other information regarding the Trust Securities and the
                  Junior Subordinated Notes to the Securityholders in accordance
                  with this Trust Agreement, the Remarketing Agreement and the
                  Calculation Agent Agreement;

                           (xvi) to appoint a Paying Agent (subject to Section
                  5.09), authenticating agent, Remarketing Agent, Calculation
                  Agent and Securities Registrar in accordance with this Trust
                  Agreement;

                           (xvii) to elect to remarket the Preferred Securities
                  and determine the length of any Fixed Rate Period;

                           (xviii) to register transfers of the Trust Securities
                  in accordance with this Trust Agreement;

                           (xix) to assist in, to the extent provided in this
                  Trust Agreement, the winding up of the affairs of and
                  termination of the Trust and the preparation, execution and
                  filing of the certificate of cancellation with the Secretary
                  of State of the State of Delaware; and

                           (xx) to take any action incidental to the foregoing
                  as the Administrative Trustees may from time to time determine
                  is necessary, appropriate, convenient or advisable to protect
                  and conserve the Trust Property for the benefit of the
                  Securityholders (without consideration of the effect of any
                  such action on any particular Securityholder).

                  (b) As among the Trustees, the Property Trustee shall have the
exclusive power, duty and authority to act on behalf of the Trust with respect
to the following matters:

                           (i) engage in such ministerial activities as shall be
                  necessary or appropriate to effect promptly the redemption of
                  the Trust Securities to the extent the Junior Subordinated
                  Notes are redeemed or mature;

                           (ii) upon notice of a distribution issued by the
                  Administrative Trustees in accordance with the terms of this
                  Trust Agreement, engage in such ministerial activities as
                  shall be necessary or appropriate to effect promptly the
                  distribution pursuant to terms of this Trust Agreement of
                  Junior Subordinated Notes to Holders of Trust Securities;

                           (iii) subject to the terms hereof, exercise all of
                  the rights, powers and privileges of a holder of the Junior
                  Subordinated Notes under the Subordinated Indenture and, if an
                  Event of Default occurs and is continuing, shall enforce for
                  the benefit of, and subject to the rights of, the Holders of
                  the Trust Securities, its rights as holder of the Junior
                  Subordinated Notes under the Subordinated Indenture;

                           (iv) take all actions and perform such duties as may
                  be specifically required of the Property Trustee pursuant to
                  the terms of this Trust Agreement;

                           (v) take any Legal Action specifically required of
                  the Property Trustee pursuant to the terms of this Trust
                  Agreement which arises out of or in connection with an Event
                  of Default or the Property Trustee's duties and obligations
                  under this Trust Agreement, the Delaware Statutory Trust Act
                  or the Trust Indenture Act;

                           (vi) the establishment and maintenance of the Payment
                  Account;

                           (vii) the receipt of and holding of legal title to
                  the Junior Subordinated Notes as described herein;

                           (viii) the collection of interest, principal and any
                  other payments made in respect of the Junior Subordinated
                  Notes in the Payment Account;

                           (ix) the distribution of amounts owed to the
                  Securityholders in respect of the Trust Securities;

                           (x) the sending of notices of default and other
                  information regarding the Trust Securities and the Junior
                  Subordinated Notes to the Securityholders in accordance with
                  this Trust Agreement;

                           (xi) the distribution of the Trust Property in
                  accordance with the terms of this Trust Agreement;

                           (xii) as provided in this Trust Agreement, the
                  winding up of the affairs of and termination of the Trust and
                  the preparation, execution and filing of the certificate of
                  cancellation with the Secretary of State of the State of
                  Delaware; and

                           (xiii) the taking of any action incidental to the
                  foregoing as the Property Trustee may from time to time
                  determine is necessary, appropriate, convenient or advisable
                  to protect and conserve the Trust Property for the benefit of
                  the Securityholders (without consideration of the effect of
                  any such action on any particular Securityholder).

                  (c) So long as this Trust Agreement remains in effect, the
Trust (or the Trustees acting on behalf of the Trust) shall not undertake any
business, activities or transaction except as expressly provided herein or
contemplated hereby. In particular, the Trustees shall not (i) acquire any
investments or engage in any activities not authorized by this Trust Agreement,
(ii) sell, assign, transfer, exchange, pledge, set-off or otherwise dispose of
any of the Trust Property or interests therein, including to Securityholders,
except as expressly provided herein, (iii) take any action that would cause the
Trust to fail or cease to qualify as a grantor trust for United States federal
income tax purposes, (iv) incur any indebtedness for borrowed money, (v) take or
consent to any action that would result in the placement of a Lien on any of the
Trust Property, (vi) issue any securities other than the Trust Securities, or
(vii) have any power to, or agree to any action by the Depositor that would,
vary the investment (within the meaning of Treasury Regulation Section
301.7701-4(c)) of the Trust or of the Securityholders. The Trustees shall defend
all claims and demands of all Persons at any time claiming any Lien on any of
the Trust Property adverse to the interest of the Trust or the Securityholders
in their capacity as Securityholders.

                  (d) In connection with the issue and sale of the Preferred
Securities, the Depositor shall have the right and responsibility to assist the
Trust with respect to, or effect on behalf of the Trust, the following (and any
actions taken by the Depositor in furtherance of the following prior to the date
of this Trust Agreement are hereby ratified and confirmed in all respects):

                           (i) to prepare for filing by the Trust with the
                  Commission a registration statement on Form S-3 under the
                  Securities Act of 1933, as amended, in relation to the
                  Preferred Securities, including any amendments thereto;

                           (ii) to determine the states in which to take
                  appropriate action to qualify or register for sale all or part
                  of the Preferred Securities and to do any and all such acts,
                  other than actions which must be taken by or on behalf of the
                  Trust, and advise the Trustees of actions they must take on
                  behalf of the Trust, and prepare for execution and filing any
                  documents to be executed and filed by the Trust or on behalf
                  of the Trust, as the Depositor deems necessary or advisable in
                  order to comply with the applicable laws of any such States;

                           (iii) to prepare for filing by the Trust an
                  application to the New York Stock Exchange or any other
                  national stock exchange or the NASDAQ National Market for
                  listing upon notice of issuance of any Preferred Securities,
                  if applicable;

                           (iv) to prepare for filing by the Trust with the
                  Commission a registration statement on Form 8-A relating to
                  the registration of the Preferred Securities under Section
                  12(b) of the Exchange Act, including any amendments thereto;

                           (v) to negotiate the terms of the Underwriting
                  Agreement providing for the sale of the Preferred Securities
                  and to execute, deliver and perform the Underwriting Agreement
                  on behalf of the Trust;

                           (vi) to negotiate the terms of the Remarketing
                  Agreement providing for the retention of the Remarketing Agent
                  and the establishment of certain procedures relating to
                  Remarketings;

                           (vii) to negotiate the terms of the Calculation Agent
                  Agreement providing for the retention of the Calculation
                  Agent;

                           (viii) to elect to remarket the Preferred Securities
                  and determine the length of any Fixed Rate Period, including
                  redemption dates applicable to any Fixed Rate Period; and

                           (ix) any other actions necessary, incidental,
                  appropriate or convenient to carry out any of the foregoing
                  activities.

                  (e) Notwithstanding anything herein to the contrary, the
Administrative Trustees are authorized and directed to conduct the affairs of
the Trust and to operate the Trust so that the Trust will not be deemed to be an
"investment company" required to be registered under the Investment Company Act
of 1940, as amended, or taxed as other than a grantor trust for United States
federal income tax purposes and so that the Junior Subordinated Notes will be
treated as indebtedness of the Depositor for United States federal income tax
purposes. In this connection, the Depositor and the Administrative Trustees are
authorized to take any action, not inconsistent with applicable law, the
Certificate of Trust or this Trust Agreement, that each of the Depositor and the
Administrative Trustees determines in its discretion to be necessary or
desirable for such purposes, as long as such action does not materially and
adversely affect the interests of the Holders of the Preferred Securities.

                  Section 2.08.     Assets of Trust

                  The assets of the Trust shall consist of the Trust Property.

                  Section 2.09.     Title to Trust Property

                  Legal title to all Trust Property shall be vested at all times
in the Property Trustee (in its capacity as such) and shall be held and
administered by the Property Trustee for the benefit of the Securityholders and
the Trust in accordance with this Trust Agreement. The right, title and interest
of the Property Trustee to the Junior Subordinated Notes shall vest
automatically in each Person who may thereafter be appointed as Property Trustee
in accordance with the terms hereof. Such vesting and cessation of title shall
be effective whether or not conveyancing documents have been executed and
delivered.

                  Section 2.10.     Mergers and Consolidations of the Trust

                  The Trust may not consolidate, amalgamate, merge with or into,
or be replaced by, or convey, transfer or lease its properties and assets
substantially as an entirety to any corporation or other body, except as
described below or otherwise provided in this Trust Agreement. The Trust may at
the request of the Company, with the consent of the Administrative Trustees and
without the consent of the Holders of the Trust Securities, consolidate,
amalgamate, merge with or into, or be replaced by a trust organized as such
under the laws of any state; provided, that (i) such successor entity either (x)
expressly assumes all of the obligations of the Trust with respect to the Trust
Securities or (y) substitutes for the Preferred Securities other securities
having substantially the same terms as the Trust Securities (herein referred to
as the "Successor Securities") so long as the Successor Securities rank the same
as the Trust Securities rank in priority with respect to Distributions and
payments upon liquidation, redemption and otherwise, (ii) the Company expressly
appoints a trustee of such successor entity possessing the same powers and
duties as the Property Trustee as the holder of legal title to the Junior
Subordinated Notes, (iii) the Preferred Securities or any Successor Securities
are listed, or any Successor Securities will be listed upon notification of
issuance, on any national securities exchange or other organization on which the
Preferred Securities are then listed, (iv) such merger, consolidation,
amalgamation or replacement does not cause the Preferred Securities (including
any Successor Securities) to be downgraded by any nationally recognized
statistical rating organization, (v) such merger, consolidation, amalgamation or
replacement does not adversely affect the rights, preferences and privileges of
the Holders of the Trust Securities (including any Successor Securities) in any
material respect, (vi) such successor entity has a purpose substantially
identical to that of the Trust, (vii) prior to such merger, consolidation,
amalgamation, or replacement, the Company has received an Opinion of Counsel to
the effect that (A) such merger, consolidation, amalgamation or replacement does
not adversely affect the rights, preferences and privileges of the Holders of
the Trust Securities (including any Successor Securities) in any material
respect, and (B) following such merger, consolidation, amalgamation or
replacement, neither the Trust nor such successor entity will be required to
register as an investment company under the Investment Company Act of 1940, as
amended, and (viii) the Company guarantees the obligations of such successor
entity under the Successor Securities at least to the extent provided by the
Guarantee. Notwithstanding the foregoing, the Trust shall not, except with the
consent of Holders of 100% in Liquidation Amount of the Trust Securities,
consolidate, amalgamate, merge with or into, or be replaced by any other entity
or permit any other entity to consolidate, amalgamate, merge with or into, or
replace it if such consolidation, amalgamation, merger or replacement would
cause the Trust or the successor entity to be classified as other than a grantor
trust for federal income tax purposes.

                                   Article III

                                 Payment Account

                  Section 3.01.     Payment Account

                  (a) On or prior to the Issue Date, the Property Trustee shall
establish the Payment Account. The Property Trustee and an agent of the Property
Trustee shall have exclusive control and sole right of withdrawal with respect
to the Payment Account for the purpose of making deposits in and withdrawals
from the Payment Account in accordance with this Trust Agreement. All monies and
other property deposited or held from time to time in the Payment Account shall
be held by the Property Trustee in the Payment Account for the exclusive benefit
of the Securityholders and for distribution as herein provided, including (and
subject to) any priority of payments provided for herein.

                  (b) The Property Trustee shall deposit in the Payment Account,
promptly upon receipt, all payments of principal or interest on, and any other
payments or proceeds with respect to, the Junior Subordinated Notes. Amounts
held in the Payment Account shall not be invested by the Property Trustee
pending distribution thereof.

                                   Article IV

                            Distributions; Redemption

                  Section 4.01.     Distributions

                  (a) Distributions shall accrue from the Issue Date until the
Redemption Date. During the Initial Fixed Rate Period, Distributions will be
payable semiannually in arrears on May 1 and November 1 of each year, commencing
on May 1, 2003. During any Fixed Rate Period, other than the Initial Fixed Rate
Period, Distributions will be payable semiannually in arrears on the first day
of the first month that begins at least six months after the first day of the
Fixed Rate Period and on the first day of each six month period thereafter
during such Fixed Rate Period. Any Fixed Rate Period may not end on a day other
than a day immediately preceding a Distribution Payment Date. During a Floating
Rate Period, Distributions will be payable quarterly in arrears on February 1,
May 1, August 1 and November 1 of each year.

                  (b) If any Distribution Payment Date with respect to a Fixed
Rate Period is not a Business Day, Distributions will be payable, without
interest, on the immediately succeeding Business Day, with the same force and
effect as if payment was made on the date such payment was originally payable.
If any Distribution Payment Date with respect to a Floating Rate Period is not a
Business Day, then Distributions will be payable on the immediately succeeding
Business Day and Distributions shall accrue to the actual payment date (except
for a Distribution Payment Date that coincides with the Redemption Date).

                  (c) The amount of Distributions payable on each Distribution
Payment Date relating to a Fixed Rate Period will be computed on the basis of a
360-day year of twelve 30-day months. The amount of Distributions payable on
each Distribution Payment Date in respect of a Floating Rate Period will be
computed by multiplying the per annum Distribution Rate in effect for such
Distribution Period by a fraction, the numerator of which will be the actual
number of days in such Distribution Period (or portion thereof) (determined by
including the first day thereof and excluding the last thereof) and the
denominator of which will be 360, and multiplying the rate so obtained by
$1,000.

                  (d) The Company has the right under the Subordinated Indenture
to defer payments of interest on the Junior Subordinated Notes by extending the
interest period from time to time on the Junior Subordinated Notes (an
"Extension Period") which, if exercised, would defer Distributions on the
Preferred Securities during any Extension Period. The payment of such
Distributions, together with any interest thereon, will be distributed to the
Holders of Trust Securities as received at the end of any Extension Period.

                  (e) Distributions on the Trust Securities shall be made and
shall be deemed payable on each Distribution Payment Date only to the extent
that the Trust has legally and immediately available funds in the Payment
Account for the payment of such Distributions.

                  (f) Distributions, including Additional Amounts, if any, on
the Trust Securities on each Distribution Date shall be payable to the Holders
thereof as they appear on the Securities Register for the Trust Securities on
the relevant Record Date.

                  Each Trust Security upon registration of transfer of or in
exchange for or in lieu of any other Trust Security shall carry the rights of
Distributions accrued (including Additional Amounts, if any) and unpaid, and to
accrue (including Additional Amounts, if any), which were carried by such other
Trust Security.

                  Section 4.02.     Distribution Rate

                  (a) During the Initial Fixed Rate Period, the Distribution
Rate shall be the Initial Distribution Rate.

                  (b) Prior to the expiration of the Initial Fixed Rate Period
and any subsequent Fixed Rate Period or a Distribution Period with respect to a
Floating Rate Period or a Distribution Period in a Fixed Rate Period during a
time in which the Preferred Securities are redeemable in such Fixed Rate Period,
the Company and the Administrative Trustees will have the option to remarket the
Preferred Securities to establish a new Fixed Rate for a new Fixed Rate Period
(to be in effect after the expiration of the then current Distribution Period).
If the Company and the Administrative Trustees elect to conduct a Remarketing of
the Preferred Securities for the purpose of establishing a new Fixed Rate for a
new Fixed Rate Period, the Trust shall, not less than 20 nor more than 35
Business Days prior to the related Election Date, notify the Clearing Agency,
the Property Trustee, the Indenture Trustee, the Calculation Agent and the
Remarketing Agent. If the Preferred Securities are not issued in global, fully
registered form to the Clearing Agency, such notice shall be delivered to the
Holders instead of the Clearing Agency. Such notice shall indicate the length of
the proposed new Fixed Rate Period, the proposed Remarketing Date and any
redemption provisions that will apply during such Fixed Rate Period. The Company
and the Administrative Trustees shall have the right to terminate a Remarketing
at any time prior to the Election Date by notice of such termination to the
Clearing Agency, the Remarketing Agent, the Property Trustee, the Indenture
Trustee and the Calculation Agent.

                  (c) If the Remarketing Agent has determined that it will be
able to remarket all Preferred Securities tendered or deemed tendered for
purchase in the Remarketing at a Fixed Rate and at a price of $1,000 per
Preferred Security, on such Remarketing Date, the Distribution Rate for the new
Fixed Rate Period will be the Fixed Rate determined by the Remarketing Agent,
which will be the rate per annum (rounded to the nearest one-thousandth (0.001)
of one percent per annum) which the Remarketing Agent determines, in its sole
judgment, to be the lowest Fixed Rate per annum, if any, that will enable it to
remarket all Preferred Securities tendered or deemed tendered for Remarketing at
a price of $1,000 per Preferred Security.

                  (d) If the Company and the Administrative Trustees do not
elect to remarket the Preferred Securities or have terminated a Remarketing or
the Remarketing Agent is unable to remarket all of the Preferred Securities
tendered or deemed tendered for a purchase price of $1,000 per Preferred
Security, the Distribution Rate shall be the Floating Rate and the new
Distribution Period shall be a Floating Rate Period.

                  (e) The Calculation Agent shall calculate the Floating Rate as
follows:

(1)  The  Calculation  Agent shall  calculate  the Floating Rate with respect to
     each Distribution  Period in a Floating Rate Period by determining  3-month
     LIBOR  as  of  the  Floating  Rate   Determination   Date   preceding  such
     Distribution Period, in which case, the Floating Rate will be 3-month LIBOR
     plus 3.05%.

(2)  In the  event  no  3-month  LIBOR  appears  on  Telerate  Page  3750  as of
     approximately  11:00 a.m.,  London time, on a Floating  Rate  Determination
     Date, the Calculation  Agent shall request the principal  London offices of
     each of four major  banks in the London  interbank  market  selected by the
     Calculation  Agent  (after  consultation  with the  Company)  to  provide a
     quotation of the rate (the "Rate Quotation") at which three-month  deposits
     in amounts of not less than  $1,000,000 are offered by it to prime banks in
     the London interbank market,  as of approximately  11:00 a.m., London time,
     on such Floating Rate Determination  Date, that is representative of single
     transactions at such time (the "Representative  Amounts").  If at least two
     Rate Quotations are provided, the Floating Rate will be the arithmetic mean
     of the Rate Quotations obtained by the Calculation Agent, plus 3.05%

(3)  In the  event  no  3-month  LIBOR  appears  on  Telerate  Page  3750  as of
     approximately  11:00 a.m.,  London time, on a Floating  Rate  Determination
     Date and there are fewer than two Rate  Quotations,  the Floating Rate will
     be the arithmetic mean of the rates quoted at approximately 11:00 a.m., New
     York City time, on such Floating  Rate  Determination  Date, by three major
     banks  in  New  York  City  selected  by  the   Calculation   Agent  (after
     consultation with the Company), for loans in Representative Amounts in U.S.
     dollars to leading European banks, having an index maturity of three months
     for a period  commencing  on the second  London  Business  Day  immediately
     following  such Floating Rate  Determination  Date,  plus 3.05%;  provided,
     however,  that if fewer than three banks selected by the Calculation  Agent
     are quoting such rates, the Floating Rate for the applicable  Floating Rate
     Period will be the Floating Rate in effect for the preceding  Floating Rate
     Period.

                  (f) If the Company elects to defer interest during a Fixed
Rate Period, Distributions will continue to accrue at the Fixed Rate until the
expiration of the Fixed Rate Period. Prior to the expiration of such Fixed Rate
Period and any Fixed Rate Period during the Extension Period, the Company and
the Administrative Trustees will have the option to remarket the Preferred
Securities for a new Fixed Rate Period (to take effect upon expiration of such
Fixed Rate Period). If the Company and the Trust do not remarket the Preferred
Securities, the Floating Rate during the Extension Period shall be determined as
provided herein, but shall not be less than the Fixed Rate for the Fixed Rate
Period just ended. If the Company elects to defer interest during a Floating
Rate Period, Distributions will continue to accrue at the applicable Floating
Rate, reset quarterly, subject to the right of the Company and the
Administrative Trustees to remarket the Preferred Securities prior to any
Distribution Payment Date in order to establish a new Fixed Rate for a new Fixed
Rate Period in accordance with the Remarketing Procedures.

                  Section 4.03.     Distribution Periods

                  In accordance with Section 4.02 and the Remarketing
Procedures, the Company and the Trust may, prior to the expiration of a Fixed
Rate Period or prior to any Distribution Payment Date during a time in which the
Preferred Securities are redeemable in any Fixed Rate Period or prior to a
Distribution Payment Date with respect to a Floating Rate Period, elect to
remarket the Preferred Securities to establish a new Fixed Rate for a new Fixed
Rate Period. A Fixed Rate Period must be for a duration of at least six months,
may not extend beyond the stated maturity of the Junior Subordinated Notes and
may not end on a day other than a day immediately preceding a Distribution
Payment Date. If a new Fixed Rate for a new Fixed Rate Period is set in a
Remarketing, a new Fixed Rate Period shall commence following the expiration of
the then current Distribution Period. If a new Fixed Rate for a new Fixed Rate
Period is not set, for any reason, a Floating Rate Period and the Floating Rate
reset quarterly shall be in effect until the Company and the Administrative
Trustees remarket the Preferred Securities and set a new Fixed Rate for a new
Fixed Rate Period in accordance with the Remarketing Procedures.

                  Section 4.04.     Redemption

                  (a) On the Redemption Date with respect to the Junior
Subordinated Notes, the Trust will be required to redeem the Trust Securities at
the Redemption Price.

                  (b) Notice of redemption shall be given by the Property
Trustee by first class mail. postage prepaid, mailed not less than 30 nor more
than 60 days prior to the Redemption Date to each Holder of Trust Securities to
be redeemed, at such Holder's address appearing in the Securities Register. All
notices of redemption shall state:

                           (i)      the Redemption Date;

                           (ii) the Redemption Price;

                           (iii) the CUSIP number; and

                           (iv) that on the Redemption Date the Redemption Price
                  will become due and payable upon each such Trust Security to
                  be redeemed and that Distributions thereon will cease to
                  accrue on and after such date.

                  (c) The Trust Securities redeemed on the Redemption Date shall
be redeemed at the Redemption Price with the proceeds from the contemporaneous
redemption of Junior Subordinated Notes. Redemptions of the Trust Securities
shall be made and the Redemption Price shall be deemed payable on each
Redemption Date only to the extent that the Trust has funds legally and
immediately available in the Payment Account for the payment of such Redemption
Price.

                  (d) If the Property Trustee gives a notice of redemption in
respect of any Preferred Securities, then, by 2:00 p.m. New York time, on the
Redemption Date, subject to Section 4.04(c), the Property Trustee will, so long
as the Preferred Securities are in book-entry only form, irrevocably deposit
with the Clearing Agency for the Preferred Securities funds sufficient to pay
the applicable Redemption Price. If the Preferred Securities are no longer in
book-entry only form, the Property Trustee, subject to Section 4.04(c), shall
irrevocably deposit with the Paying Agent funds sufficient to pay the applicable
Redemption Price and will give the Paying Agent irrevocable instructions to pay
the Redemption Price to the Holders thereof upon surrender of their Preferred
Securities Certificates. Notwithstanding the foregoing, Distributions payable on
or prior to the Redemption Date for any Trust Securities called for redemption
shall be payable to the Holders of such Trust Securities as they appear on the
Securities Register for the Trust Securities on the relevant Record Date for the
related Distribution Payment Date. If notice of redemption shall have been given
and funds deposited as required, then upon the date of such deposit, all rights
of Securityholders holding Trust Securities so called for redemption will cease,
except the right of such Securityholders to receive the Redemption Price, but
without interest, and such Securities will cease to be outstanding. In the event
that any date on which any Redemption Price is payable is not a Business Day,
then payment of the Redemption Price payable on such date shall be made on the
next succeeding day which is a Business Day (and without any interest or other
payment in respect of any such delay) except that, if such Business Day is in
the next succeeding calendar year, payment of such Redemption Price shall be
made on the immediately preceding Business Day, in each case, with the same
force and effect as if made on such date. In the event that payment of the
Redemption Price in respect of Trust Securities is improperly withheld or
refused and not paid either by the Trust or by the Depositor pursuant to the
Guarantee, Distributions on such Trust Securities will continue to accrue at the
then applicable rate, from such Redemption Date originally established by the
Trust for such Preferred Securities to the date such Redemption Price is
actually paid.

                  (e) Payment of the Redemption Price on the Trust Securities
shall be made to the recordholders thereof as they appear on the Securities
Register for the Trust Securities on the relevant Record Date. In the event that
the Redemption Date is not a Distribution Payment Date, the record date shall be
the Redemption Date.

                  (f) Subject to the foregoing provisions of Section 4.04 and to
applicable law (including, without limitation, United States federal securities
laws), the Company or its Affiliates may, at any time and from time to time,
purchase outstanding Preferred Securities by tender, in the open market or by
private agreement.

                  Section 4.05.     Subordination of Common Securities and
Distributions

                  (a) Payment of Distributions (including Additional Amounts, if
applicable) on, and the Redemption Price of, the Trust Securities, as
applicable, shall be made pro rata based on the Liquidation Amount of the Trust
Securities; provided, however, that if on any Distribution Payment Date or
Redemption Date an Indenture Event of Default shall have occurred and be
continuing, no payment of any Distribution (including Additional Amounts, if
applicable) on, or Redemption Price of, any Common Security, and no other
payment on account of the redemption, liquidation or other acquisition of Common
Securities, shall be made unless payment in full in cash of all accumulated and
unpaid Distributions (including Additional Amounts, if applicable) on all
Outstanding Preferred Securities for all Distribution Periods terminating on or
prior thereto, or in the case of payment of the Redemption Price the full amount
of such Redemption Price on all Outstanding Preferred Securities, shall have
been made or provided for, and all funds immediately available to the Property
Trustee shall first be applied to the payment in full in cash of all
Distributions (including Additional Amounts, if applicable) on, or Redemption
Price of, Preferred Securities then due and payable.

                  (b) In the case of the occurrence of any Indenture Event of
Default, the Holder of Common Securities will be deemed to have waived any such
Event of Default under this Trust Agreement until the effect of all such Events
of Default with respect to the Preferred Securities have been cured, waived or
otherwise eliminated. Until any such Events of Default under this Trust
Agreement with respect to the Preferred Securities have been so cured, waived or
otherwise eliminated, the Property Trustee shall act solely on behalf of the
Holders of the Preferred Securities and not the Holder of the Common Securities,
and only the Holders of the Preferred Securities will have the right to direct
the Property Trustee to act on their behalf.

                  (c) Distributions on the Common Securities shall be payable at
the same Distribution Rates, on the same Distribution Payment Dates and for the
same Distribution Periods and to holders as of the same Record Date as for the
Preferred Securities.

                  Section 4.06.     Payment Procedures

                  Payments in respect of the Preferred Securities shall be made
by check mailed to the address of the Person entitled thereto as such address
shall appear on the Securities Register or, if the Preferred Securities are held
by a Clearing Agency, such Distributions shall be made to the Clearing Agency,
which shall credit the relevant Persons' accounts at such Clearing Agency on the
applicable Distribution Payment Dates. Payments in respect of the Common
Securities shall be made in such manner as shall be mutually agreed between the
Property Trustee and the Holder of the Common Securities.

                  Section 4.07.     Tax Returns and Reports

                  The Administrative Trustee(s) shall prepare (or cause to be
prepared), at the Depositor's expense, and file all United States federal, state
and local tax and information returns and reports required to be filed by or in
respect of the Trust. The Administrative Trustee(s) shall provide or cause to be
provided on a timely basis to each Holder any Internal Revenue Service form
required to be so provided in respect of the Trust Securities.

                                    Article V

                          Trust Securities Certificates

                  Section 5.01.     Initial Ownership

                  Upon the creation of the Trust by the contribution by the
Depositor pursuant to Section 2.03 and until the issuance of the Trust
Securities, and at any time during which no Trust Securities are outstanding,
the Depositor shall be the sole beneficial owner of the Trust.

                  Section 5.02.     The Trust Securities Certificates

                  Each of the Preferred and Common Securities Certificates shall
be issued in minimum denominations of $1,000 and integral multiples in excess
thereof. The Trust Securities Certificates shall be executed on behalf of the
Trust by manual or facsimile signature of at least one Administrative Trustee.
Trust Securities Certificates bearing the manual or facsimile signatures of
individuals who were, at the time when such signatures shall have been affixed,
authorized to sign on behalf of the Trust, shall be validly issued and entitled
to the benefits of this Trust Agreement, notwithstanding that such individuals
or any of them shall have ceased to be so authorized prior to the authentication
and delivery of such Trust Securities Certificates or did not hold such offices
at the date of authentication and delivery of such Trust Securities
Certificates. A transferee of a Trust Securities Certificate shall become a
Securityholder, and shall be entitled to the rights and subject to the
obligations of a Securityholder hereunder, upon due registration of such Trust
Securities Certificate in such transferee's name pursuant to Section 5.04.

             Section 5.03.     Authentication of Trust Securities Certificates

                  On the Issue Date, the Administrative Trustees shall cause
Trust Securities Certificates, in an aggregate Liquidation Amount as provided in
Sections 2.04 and 2.05, to be executed on behalf of the Trust, authenticated and
delivered to or upon the written order of the Depositor signed by its Chairman
of the Board, its President or any Vice President, without further corporate
action by the Depositor, in authorized denominations. No Trust Securities
Certificate shall entitle its holder to any benefit under this Trust Agreement,
or shall be valid for any purpose, unless there shall appear on such Trust
Securities Certificate a certificate of authentication substantially in the form
set forth in Exhibit A or Exhibit C, as applicable, executed by at least one
Administrative Trustee by manual signature; such authentication shall constitute
conclusive evidence that such Trust Securities Certificate shall have been duly
authenticated and delivered hereunder. All Trust Securities Certificates shall
be dated the date of their authentication.

                  Section 5.04.     Registration of Transfer and Exchange of
Preferred Securities Certificates

                  The Securities Registrar shall keep or cause to be kept, at
the office or agency maintained pursuant to Section 5.08, a Securities Register
in which, subject to such reasonable regulations as it may prescribe, the
Securities Registrar shall provide for the registration of Preferred Securities
Certificates and the Common Securities Certificates (subject to Section 5.10 in
the case of the Common Securities Certificates) and registration of transfers
and exchanges of Preferred Securities Certificates as herein provided. The
Property Trustee shall be the initial Securities Registrar.

                  Upon surrender for registration of transfer of any Preferred
Securities Certificate at the office or agency maintained pursuant to Section
5.08, the Administrative Trustees shall execute, authenticate and deliver in the
name of the designated transferee or transferees one or more new Preferred
Securities Certificates in authorized denominations of a like aggregate
Liquidation Amount dated the date of authentication by the Administrative
Trustee or Trustees. The Securities Registrar shall not be required to register
the transfer of any Preferred Securities that have been called for redemption.
At the option of a Holder, Preferred Securities Certificates may be exchanged
for other Preferred Securities Certificates in authorized denominations of the
same class and of a like aggregate Liquidation Amount upon surrender of the
Preferred Securities Certificates to be exchanged at the office or agency
maintained pursuant to Section 5.08.

                  Every Preferred Securities Certificate presented or
surrendered for registration of transfer or exchange shall be accompanied by a
written instrument of transfer in form satisfactory to the Trustees and the
Securities Registrar duly executed by the Holder or his attorney duly authorized
in writing. Each Preferred Securities Certificate surrendered for registration
of transfer or exchange shall be canceled and subsequently disposed of by the
Securities Registrar in accordance with its customary practice.

                  No service charge shall be made for any registration of
transfer or exchange of Preferred Securities Certificates, but the Securities
Registrar or the Administrative Trustees may require payment of a sum sufficient
to cover any tax or governmental charge that may be imposed in connection with
any transfer or exchange of Preferred Securities Certificates.

                  Section 5.05.     Mutilated, Destroyed, Lost or Stolen Trust
Securities Certificates

                  If (a) any mutilated Trust Securities Certificate shall be
surrendered to the Securities Registrar, or if the Securities Registrar shall
receive evidence to its satisfaction of the destruction, loss or theft of any
Trust Securities Certificate and (b) there shall be delivered to the Securities
Registrar and the Administrative Trustees such security or indemnity as may be
required by them to save each of them harmless, then in the absence of notice
that such Trust Securities Certificate shall have been acquired by a bona fide
purchaser, the Administrative Trustees or any one of them on behalf of the Trust
shall execute and authenticate and make available for delivery, in exchange for
or in lieu of any such mutilated, destroyed, lost or stolen Trust Securities
Certificate, a new Trust Securities Certificate of like class, tenor and
denomination. In connection with the issuance of any new Trust Securities
Certificate under this Section, the Administrative Trustees or the Securities
Registrar may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection therewith. Any duplicate
Trust Securities Certificate issued pursuant to this Section shall constitute
conclusive evidence of an ownership interest in the Trust, as if originally
issued, whether or not the lost, stolen or destroyed Trust Securities
Certificate shall be found at any time.

                  Section 5.06.     Persons Deemed Securityholders

                  Prior to due presentation of a Trust Securities Certificate
for registration of transfer, the Trustees or the Securities Registrar shall
treat the Person in whose name any Trust Securities Certificate shall be
registered in the Securities Register as the owner of such Trust Securities
Certificate for the purpose of receiving Distributions (subject to Section
4.01(d)) and for all other purposes whatsoever, and neither the Trustees nor the
Securities Registrar shall be bound by any notice to the contrary.

                  Section 5.07.     Access to List of Securityholders' Names
and Addresses

                  The Administrative Trustees shall furnish or cause to be
furnished to (i) the Depositor and the Property Trustee semi-annually, not later
than May 1 and November 1 in each year, and (ii) the Depositor or the Property
Trustee, as the case may be, within 15 days after receipt by any Administrative
Trustee of a request therefor from the Depositor or the Property Trustee, as the
case may be, in writing, a list, in such form as the Depositor or the Property
Trustee, as the case may be, may reasonably require, of the names and addresses
of the Securityholders as of a date not more than 15 days prior to the time such
list is furnished. If three or more Securityholders or one or more Holders of
Trust Securities Certificates evidencing not less than 25% of the outstanding
Liquidation Amount apply in writing to the Administrative Trustees, and such
application states that the applicants desire to communicate with other
Securityholders with respect to their rights under this Trust Agreement or under
the Trust Securities Certificates and such application is accompanied by a copy
of the communication that such applicants propose to transmit, then the
Administrative Trustees shall, within five Business Days after the receipt of
such application, afford such applicants access during normal business hours to
the current list of Securityholders. Each Holder, by receiving and holding a
Trust Securities Certificate, shall be deemed to have agreed not to hold either
the Depositor or the Administrative Trustees accountable by reason of the
disclosure of its name and address, regardless of the source from which such
information was derived.

                  Section 5.08.     Maintenance of Office or Agency

                  The Administrative Trustees shall maintain in the Borough of
Manhattan, New York, an office or offices or agency or agencies where Preferred
Securities Certificates may be surrendered for registration of transfer or
exchange and where notices and demands to or upon the Trustees in respect of the
Trust Securities Certificates may be served. The Administrative Trustees
initially designate JPMorgan Chase Bank, 450 West 33rd Street, New York, New
York 10001, as its principal agency for such purposes. The Administrative
Trustees shall give prompt written notice to the Depositor and to the
Securityholders of any change in the location of the Securities Register or any
such office or agency.

                  Section 5.09.     Appointment of Paying Agent

                  The Paying Agent shall make Distributions and other payments
provided hereby to Securityholders from the Payment Account and shall report the
amounts of such Distributions and payments to the Property Trustee and the
Administrative Trustees. Any Paying Agent shall have the revocable power to
withdraw funds from the Payment Account for the purpose of making the
Distributions and payments provided hereby. The Administrative Trustees may
revoke such power and remove the Paying Agent if such Trustees determine in
their sole discretion that the Paying Agent shall have failed to perform its
obligations under this Agreement in any material respect. The Paying Agent shall
initially be the Property Trustee, and it may choose any co-paying agent that is
acceptable to the Administrative Trustees and the Depositor. Any Person acting
as Paying Agent shall be permitted to resign as Paying Agent upon 30 days'
written notice to the Administrative Trustees and the Depositor. In the event
that a Paying Agent shall resign or be removed, the Administrative Trustees
shall appoint a successor that is acceptable to the Depositor to act as Paying
Agent (which shall be a bank or trust company). The Administrative Trustees
shall cause such successor Paying Agent or any additional Paying Agent appointed
by the Administrative Trustees to execute and deliver to the Trustees an
instrument in which such successor Paying Agent or additional Paying Agent shall
agree with the Trustees that as Paying Agent, such successor Paying Agent or
additional Paying Agent will hold all sums, if any, held by it for payment to
the Securityholders in trust for the benefit of the Securityholders entitled
thereto until such sums shall be paid to such Securityholders. The Paying Agent
shall return all unclaimed funds to the Property Trustee and upon removal of a
Paying Agent such Paying Agent shall also return all funds in its possession to
the Property Trustee. The provisions of Sections 8.01, 8.03 and 8.06 shall apply
to the Property Trustee also in its role as Paying Agent, for so long as the
Property Trustee shall act as Paying Agent and, to the extent applicable, to any
other paying agent appointed hereunder. Any reference in this Agreement to the
Paying Agent shall include any co-paying agent unless the context requires
otherwise.

                  Section 5.10.     Ownership of Common Securities by Depositor

                  On the Issue Date, the Depositor shall acquire, and thereafter
retain, beneficial and record ownership of the Common Securities. Any attempted
transfer of the Common Securities, except for transfers by operation of law or
to an Affiliate of the Depositor or a permitted successor under Section 801 of
the Subordinated Indenture, shall be void. The Administrative Trustees shall
cause each Common Securities Certificate issued to the Depositor to contain a
legend stating "THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT AS PROVIDED IN THE
TRUST AGREEMENT REFERRED TO HEREIN".

              Section 5.11.     Book-Entry Preferred Securities Certificates;
Common Securities Certificate

                  (a) The Preferred Securities Certificates, upon original
issuance, will be issued in the form of a typewritten Preferred Securities
Certificate or Certificates representing Book-Entry Preferred Securities
Certificates, to be delivered to The Depository Trust Company, the initial
Clearing Agency, by, or on behalf of, the Trust. Such Preferred Securities
Certificate or Certificates shall initially be registered on the Securities
Register in the name of Cede & Co., the nominee of the initial Clearing Agency,
and no Owner will receive a definitive Preferred Securities Certificate
representing such beneficial owner's interest in such Preferred Securities,
except as provided in Section 5.13. Unless and until Definitive Preferred
Securities Certificates have been issued to Owners pursuant to Section 5.13:

                           (i) the provisions of this Section 5.11(a) shall be
in full force and effect;

                           (ii) the Securities Registrar and the Trustees shall
                  be entitled to deal with the Clearing Agency for all purposes
                  of this Trust Agreement relating to the Book-Entry Preferred
                  Securities Certificates (including the payment of principal of
                  and interest on the Book-Entry Preferred Securities and the
                  giving of instructions or directions to Owners of Book-Entry
                  Preferred Securities) as the sole Holder of Book-Entry
                  Preferred Securities and shall have no obligations to the
                  Owners thereof;

                           (iii) to the extent that the provisions of this
                  Section conflict with any other provisions of this Trust
                  Agreement, the provisions of this Section shall control; and

                           (iv) the rights of the Owners of the Book-Entry
                  Preferred Securities Certificates shall be exercised only
                  through the Clearing Agency and shall be limited to those
                  established by law and agreements between such Owners and the
                  Clearing Agency and/or the Clearing Agency Participants.
                  Pursuant to the Certificate Depository Agreement, unless and
                  until Definitive Preferred Securities Certificates are issued
                  pursuant to Section 5.13, the Clearing Agency will make
                  book-entry transfers among the Clearing Agency Participants
                  and receive and transmit payments on the Preferred Securities
                  to such Clearing Agency Participants.

                  (b) A single Common Securities Certificate representing the
Common Securities shall be issued to the Depositor in the form of a definitive
Common Securities Certificate.

                  Section 5.12.     Notices to Clearing Agency

                  To the extent a notice or other communication to the Owners is
required under this Trust Agreement, unless and until Definitive Preferred
Securities Certificates shall have been issued to Owners pursuant to Section
5.13, the Trustees shall give all such notices and communications specified
herein to be given to Owners to the Clearing Agency, and shall have no
obligations to the Owners.

                  Section 5.13.     Definitive Preferred Securities Certificates

                  If (i) the Depositor advises the Trustees in writing that the
Clearing Agency is no longer willing or able to properly discharge its
responsibilities with respect to the Preferred Securities Certificates, and the
Depositor is unable to locate a qualified successor, or (ii) the Depositor at
its option advises the Trustees in writing that it elects to terminate the
book-entry system through the Clearing Agency, then the Administrative Trustees
shall notify the Clearing Agency and Holders of the Preferred Securities. Upon
surrender to the Administrative Trustees of the typewritten Preferred Securities
Certificate or Certificates representing the Book-Entry Preferred Securities
Certificates by the Clearing Agency, accompanied by registration instructions,
the Administrative Trustees or any one of them shall execute and authenticate
the Definitive Preferred Securities Certificates in accordance with the
instructions of the Clearing Agency. Neither the Securities Registrar nor the
Trustees shall be liable for any delay in delivery of such instructions and may
conclusively rely on, and shall be protected in relying on, such instructions.
Upon the issuance of Definitive Preferred Securities Certificates, the Trustees
shall recognize the Holders of the Definitive Preferred Securities Certificates
as Securityholders. The Definitive Preferred Securities Certificates shall be
printed, lithographed or engraved or may be produced in any other manner as is
reasonably acceptable to the Administrative Trustees, as evidenced by the
execution thereof by the Administrative Trustees or any one of them.

                  Section 5.14.     Rights of Securityholders

                  The legal title to the Trust Property is vested exclusively in
the Property Trustee (in its capacity as such) in accordance with Section 2.09,
and the Securityholders shall not have any right or title therein other than the
beneficial ownership interest in the assets of the Trust conferred by their
Trust Securities, and they shall have no right to call for any partition or
division of property, profits or rights of the Trust except as described below.
The Trust Securities shall be personal property giving only the rights
specifically set forth therein and in this Trust Agreement. The Trust Securities
shall have no preemptive or other similar rights and when issued and delivered
to Securityholders against payment of the purchase price therefor, except as
otherwise provided in the Expense Agreement and Section 11.01 hereof, will be
fully paid and nonassessable by the Trust. Except as otherwise provided in the
Expense Agreement and Section 11.01 hereof, the Holders of the Trust Securities
shall be entitled to the same limitation of personal liability extended to
stockholders of private corporations for profit organized under the General
Corporation Law of the State of Delaware.

                                   Article VI

                    Acts of Securityholders; Meetings; Voting

                  Section 6.01.     Limitations on Voting Rights

                  (a) Except as provided in this Section, in Section 8.10 or
Section 11.03 of this Trust Agreement, in the Subordinated Indenture, and as
otherwise required by law, no Holder of Preferred Securities shall have any
right to vote or in any manner otherwise control the administration, operation
and management of the Trust or the obligations of the parties hereto, nor shall
anything herein set forth, or contained in the terms of the Trust Securities
Certificates, be construed so as to constitute the Securityholders from time to
time as partners or members of an association.

                  (b) So long as any Junior Subordinated Notes are held by the
Property Trustee, the Trustees shall not (i) direct the time, method and place
of conducting any proceeding for any remedy available to the Indenture Trustee,
or executing any trust or power conferred on the Indenture Trustee with respect
to such Junior Subordinated Notes, (ii) waive any past default which is waivable
under Section 513 of the Subordinated Indenture, (iii) exercise any right to
rescind or annul a declaration that the principal of all the Junior Subordinated
Notes shall be due and payable or (iv) consent to any amendment, modification or
termination of the Subordinated Indenture or the Junior Subordinated Notes,
where such consent shall be required, or to any other action, as holder of the
Junior Subordinated Notes, under the Subordinated Indenture, without, in each
case, obtaining the prior approval of the Holders of at least 66-2/3% in
Liquidation Amount of the Preferred Securities; provided, however, that where a
consent under the Subordinated Indenture would require the consent of each
holder of Junior Subordinated Notes affected thereby, no such consent shall be
given by the Trustees without the prior written consent of each Holder of
Preferred Securities. The Trustees shall not revoke any action previously
authorized or approved by a vote of the Holders of Preferred Securities, except
pursuant to a subsequent vote of the Holders of Preferred Securities. The
Property Trustee shall notify all Holders of the Preferred Securities of any
notice of default received from the Indenture Trustee with respect to the Junior
Subordinated Notes. In addition to obtaining the foregoing approvals of the
Holders of the Preferred Securities, prior to taking any of the foregoing
actions, the Trustees shall, at the expense of the Depositor, obtain an Opinion
of Counsel experienced in such matters to the effect that the Trust will not be
classified as other than a grantor trust for United States federal income tax
purposes on account of such action.

                  (c) If any proposed amendment to this Trust Agreement provides
for, or the Trustees otherwise propose to effect, (i) any action that would
adversely affect the powers, preferences or special rights of the Preferred
Securities, whether by way of amendment to this Trust Agreement or otherwise, or
(ii) the dissolution, winding-up or termination of the Trust, other than
pursuant to the terms of this Trust Agreement, then the Holders of Outstanding
Preferred Securities as a class will be entitled to vote on such amendment or
proposal and such amendment or proposal shall not be effective except with the
approval of the Holders of at least 66-2/3% in Liquidation Amount of the
Outstanding Preferred Securities. In addition to obtaining the foregoing
approvals of the Holders of the Preferred Securities, prior to taking any of the
foregoing actions, the Trustees shall, at the expense of the Depositor, obtain
an Opinion of Counsel experienced in such matters to the effect that the Trust
will not be classified as other than a grantor trust for United States federal
income tax purposes on account of such action.

                  (d) An Event of Default will be deemed to be cured or waived
if, at any time, (i) after an Event of Default exists and payment of interest
and principal on the Junior Subordinated Notes has been accelerated under the
terms of the Subordinated Note Indenture or (ii) prior to a judgment or decree
for the payment of the money due on the Preferred Securities has been obtained,
the following events occur: (A) the holders of at least 66 2/3% in liquidation
amount of the outstanding Preferred Securities give written notice to the
Property Trustee, the Administrative Trustees and the Company to rescind and
annul such declaration of acceleration of the Junior Subordinated Notes and its
consequences, (B) the Trust pays and deposits with the Clearing Agency a sum
sufficient to pay all Distributions (including any accrued interest) and the
liquidation amount due on the Preferred Securities otherwise than caused by the
acceleration of the Junior Subordinated Notes and (C) all other Events of
Default are no longer continuing or have been waived.

                  (e) Subject to this Section, Section 11.03(c) and Section 8.19
of this Trust Agreement, the Holders of at least 66% in Liquidation Amount of
the Outstanding Preferred Securities may, on behalf of the Holders of all the
Preferred Securities, waive any past default hereunder and its consequences,
except a default in the payment of any Distribution or redemption payment or in
respect of a covenant or provision hereof which under Section 11.03(c) cannot be
modified or amended without the consent of the Holder of each Preferred
Security.

                  Upon any such waiver, such default shall cease to exist, and
any Event of Default arising therefrom shall be deemed to have been cured for
every purpose of this Trust Agreement; but no such waiver shall extend to any
subsequent or other default or impair any right consequent thereon. Any waiver
by the Holders of the Preferred Securities of an Event of Default with respect
to Preferred Securities shall also be deemed to constitute a waiver by the
Holders of Common Securities for all purposes of the Trust Agreement without any
further act, vote or consent of the Holders of Common Securities.

                  Section 6.02.     Notice of Meetings

                  Notice of all meetings of the Preferred Securityholders,
stating the time, place and purpose of the meeting, shall be given by the
Administrative Trustees pursuant to Section 11.08 to each Preferred
Securityholder of record, at his registered address, at least 15 days and not
more than 90 days before the meeting. At any such meeting, any business properly
before the meeting may be so considered whether or not stated in the notice of
the meeting. Any adjourned meeting may be held as adjourned without further
notice.

                  Section 6.03.     Meetings of Preferred Securityholders

                  No annual meeting of Securityholders is required to be held.
The Administrative Trustees, however, shall call a meeting of Securityholders to
vote on any matter upon the written request of the Preferred Securityholders of
record of 25% of the Preferred Securities (based upon their Liquidation Amount)
and the Administrative Trustees or the Property Trustee may, at any time in
their discretion, call a meeting of Preferred Securityholders to vote on any
matters as to which Preferred Securityholders are entitled to vote.

                  Preferred Securityholders of record of 50% of the Preferred
Securities (based upon their Liquidation Amount), present in person or by proxy,
shall constitute a quorum at any meeting of Securityholders.

                  If a quorum is present at a meeting, an affirmative vote by
the Preferred Securityholders of record present, in person or by proxy, holding
more than 66-2/3% of the Preferred Securities (based upon their Liquidation
Amount) held by the Preferred Securityholders of record present, either in
person or by proxy, at such meeting shall constitute the action of the
Securityholders, unless this Trust Agreement requires a greater number of
affirmative votes.

                  Section 6.04.     Voting Rights

                  Securityholders shall be entitled to one vote for each $1,000
of Liquidation Amount represented by their Trust Securities in respect of any
matter as to which such Securityholders are entitled to vote.

                  Section 6.05.     Proxies, etc.
                                    -------------

                  At any meeting of Securityholders, any Securityholder entitled
to vote may vote by proxy, provided that no proxy shall be voted at any meeting
unless it shall have been placed on file with the Administrative Trustees, or
with such other officer or agent of the Trust as the Administrative Trustees may
direct, for verification prior to the time at which such vote shall be taken.
Pursuant to a resolution of the Property Trustee, proxies may be solicited in
the name of the Property Trustee or one or more officers of the Property
Trustee. Only Securityholders of record shall be entitled to vote. When Trust
Securities are held jointly by several Persons, any one of them may vote at any
meeting in person or by proxy in respect of such Trust Securities, but if more
than one of them shall be present at such meeting in person or by proxy, and
such joint owners or their proxies so present disagree as to any vote to be
cast, such vote shall not be received in respect of such Trust Securities. A
proxy purporting to be executed by or on behalf of a Securityholder shall be
deemed valid unless challenged at or prior to its exercise, and the burden of
proving invalidity shall rest on the challenger. No proxy shall be valid more
than three years after its date of execution.

                  Section 6.06.     Securityholder Action by Written Consent

                  Any action which may be taken by Securityholders at a meeting
may be taken without a meeting if Securityholders holding at least 66-2/3% of
all outstanding Trust Securities entitled to vote in respect of such action (or
such other proportion thereof as shall be required by any express provision of
this Trust Agreement) shall consent to the action in writing (based upon their
Liquidation Amount).

                  Section 6.07.     Record Date for Voting and Other Purposes

                  For the purposes of determining the Securityholders who are
entitled to notice of and to vote at any meeting or by written consent, or to
participate in any Distribution on the Trust Securities in respect of which a
record date is not otherwise provided for in this Trust Agreement, or for the
purpose of any other action, the Administrative Trustees may from time to time
fix a date, not more than 90 days prior to the date of any meeting of
Securityholders or the payment of Distribution or other action, as the case may
be, as a record date for the determination of the identity of the
Securityholders of record for such purposes.

                  Section 6.08.     Acts of Securityholders

                  Any request, demand, authorization, direction, notice,
consent, waiver or other action provided or permitted by this Trust Agreement to
be given, made or taken by Securityholders may be embodied in and evidenced by
one or more instruments of substantially similar tenor signed by such
Securityholders in person or by an agent appointed in writing; and, except as
otherwise expressly provided herein, such action shall become effective when
such instrument or instruments are delivered to the Administrative Trustees.
Such instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "Act" of the Securityholders
signing such instrument or instruments. Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Trust Agreement and (subject to Section 8.01) conclusive in
favor of the Trustees, if made in the manner provided in this Section.

                  The fact and date of the execution by any Person of any such
instrument or writing may be proved by the affidavit of a witness of such
execution or by a certificate of a notary public or other officer authorized by
law to take acknowledgments of deeds, certifying that the individual signing
such instrument or writing acknowledged to him the execution thereof. Where such
execution is by a signer acting in a capacity other than his individual
capacity, such certificate or affidavit shall also constitute sufficient proof
of his authority. The fact and date of the execution of any such instrument or
writing, or the authority of the Person executing the same, may also be proved
in any other manner which the Trustees deem sufficient.

                  The ownership of Preferred Securities shall be proved by the
Securities Register. Any request, demand, authorization, direction, notice,
consent, waiver or other Act of the Securityholder of any Trust Security shall
bind every future Securityholder of the same Trust Security and the
Securityholder of every Trust Security issued upon the registration of transfer
thereof or in exchange therefor or in lieu thereof in respect of anything done,
omitted or suffered to be done by the Trustees or the Trust in reliance thereon,
whether or not notation of such action is made upon such Trust Security.

                  Without limiting the foregoing, a Securityholder entitled
hereunder to take any action hereunder with regard to any particular Trust
Security may do so with regard to all or any part of the Liquidation Amount of
such Trust Security or by one or more duly appointed agents each of which may do
so pursuant to such appointment with regard to all or any part of such
Liquidation Amount.

                  If any dispute shall arise between the Securityholders of
Trust Securities and the Administrative Trustees or among such Securityholders
or Trustees with respect to the authenticity, validity or binding nature of any
request, demand, authorization, direction, consent, waiver or other Act of such
Securityholder or Trustee under this Article VI, then the determination of such
matter by the Property Trustee shall be conclusive with respect to such matter.

                  Section 6.09.     Inspection of Records

         Upon reasonable notice to the Trustees, the records of the Trust shall
be open to inspection by Securityholders during normal business hours for any
purpose reasonably related to such Securityholder's interest as a
Securityholder.

                                   Article VII

                 Representations and Warranties of the Trustees

                  Section 7.01.     Representations and Warranties of the
Trustees

                  The Bank, the Delaware Bank, the Property Trustee and the
Delaware Trustee, each on behalf of and as to itself, hereby represents and
warrants for the benefit of the Depositor and the Securityholders that:

                  (a) the Bank is a banking corporation or trust company duly
organized, validly existing and in good standing under the laws of the State of
New York, and the Delaware Trustee is a national banking association, duly
organized, validly existing and in good standing under the laws of the United
States of America;

                  (b) each of the Bank and the Delaware Bank has full corporate
power, authority and legal right to execute, deliver and perform their
obligations under this Trust Agreement and has taken all necessary action to
authorize the execution, delivery and performance by it of this Trust Agreement;

                  (c) this Trust Agreement has been duly authorized, executed
and delivered by each of the Bank and the Delaware Bank and constitutes the
valid and legally binding agreement of each of the Bank and the Delaware Bank,
enforceable against it in accordance with its terms, subject to bankruptcy,
insolvency, fraudulent transfer, reorganization, moratorium and similar laws of
general applicability relating to or affecting creditors' rights and to general
equity principles;

                  (d) the execution, delivery and performance by each of the
Bank and the Delaware Bank of this Trust Agreement have been duly authorized by
all necessary corporate action on the part of the Bank, the Property Trustee,
the Delaware Bank and the Delaware Trustee and do not require any approval of
stockholders of the Bank or the Delaware Bank and such execution, delivery and
performance will not (i) violate the Bank's or the Delaware Bank's Charter or
By-laws, or (ii) violate any law, governmental rule or regulation of the United
States or the State of New York or Delaware, as the case may be, governing the
banking or trust powers of the Bank and the Property Trustee or the Delaware
Bank and the Delaware Trustee, or any order, judgment or decree applicable to
the Bank, the Property Trustee, the Delaware Bank or the Delaware Trustee; and

                  (e) neither the authorization, execution or delivery by the
Bank or the Delaware Bank of this Trust Agreement, nor the consummation of any
of the transactions by the Bank, the Property Trustee, the Delaware Bank or the
Delaware Trustee (as appropriate in context) contemplated herein or therein, nor
the issuance of the Trust Securities Certificates pursuant to this Trust
Agreement require the consent or approval of, the giving of notice to, the
registration with or the taking of any other action with respect to any
governmental authority or agency under any existing federal, New York or
Delaware law governing the banking or trust powers of the Bank or the Delaware
Bank.

                                  Article VIII

                                  The Trustees

                  Section 8.01.     Certain Duties and Responsibilities

                  (a) The rights, duties and responsibilities of the Trustees
shall be as provided by this Trust Agreement and, in the case of the Property
Trustee, the Trust Indenture Act. Notwithstanding the foregoing, no provision of
this Trust Agreement shall require the Trustees to expend or risk their own
funds or otherwise incur any financial liability in the performance of any of
their duties hereunder, or in the exercise of any of their rights or powers, if
they shall have reasonable grounds for believing that repayment of such funds or
adequate indemnity against such risk or liability is not reasonably assured to
them. Whether or not therein expressly so provided, every provision of this
Trust Agreement relating to the conduct or affecting the liability of or
affording protection to the Trustees shall be subject to the provisions of this
Section.

                  (b) All payments made by the Property Trustee in respect of
the Trust Securities shall be made only from the income and proceeds from the
Trust Property and only to the extent that there shall be sufficient income or
proceeds from the Trust Property to enable the Property Trustee to make payments
in accordance with the terms hereof. Each Securityholder, by its acceptance of a
Trust Security, agrees that it will look solely to the income and proceeds from
the Trust Property to the extent available for distribution to it as herein
provided and that the Trustees are not personally liable to it for any amount
distributable in respect of any Trust Security or for any other liability in
respect of any Trust Security. This Section 8.01(b) does not limit the liability
of the Trustees expressly set forth elsewhere in this Trust Agreement or, in the
case of the Property Trustee, in the Trust Indenture Act.

                  Section 8.02.     Notice of Defaults

                  Within 90 days after the occurrence of any default, the
Property Trustee shall transmit, in the manner and to the extent provided in
Section 10.08, notice of any default known to the Property Trustee to the
Securityholders, the Administrative Trustees and the Depositor, unless such
default shall have been cured or waived. For the purpose of this Section, the
term "default" means any event which is, or after notice or lapse of time or
both would become, an Event of Default.

                  Section 8.03.     Certain Rights of Property Trustee

                  Subject to the provisions of Section 8.01 and except as
provided by law:

                  (a) the Property Trustee may rely and shall be protected in
acting or refraining from acting in good faith upon any resolution, Opinion of
Counsel, certificate, written representation of a Holder or transferee,
certificate of auditors or any other certificate, statement, instrument,
opinion, report, notice, request, consent, order, appraisal, bond or other paper
or document believed by it to be genuine and to have been signed or presented by
the proper party or parties;

                  (b) if (i) in performing its duties under this Trust Agreement
the Property Trustee is required to decide between alternative courses of
action, or (ii) in construing any of the provisions in this Trust Agreement the
Property Trustee finds the same ambiguous or inconsistent with any other
provisions contained herein, or (iii) the Property Trustee is unsure of the
application of any provision of this Trust Agreement, then, except as to any
matter as to which the Preferred Securityholders are entitled to vote under the
terms of this Trust Agreement, the Property Trustee shall deliver a notice to
the Depositor requesting written instructions of the Depositor as to the course
of action to be taken. The Property Trustee shall take such action, or refrain
from taking such action, as the Property Trustee shall be instructed in writing
to take, or to refrain from taking, by the Depositor; provided, however, that if
the Property Trustee does not receive such instructions of the Depositor within
ten Business Days after it has delivered such notice, or such reasonably shorter
period of time set forth in such notice (which to the extent practicable shall
not be less than two Business Days), it may, but shall be under no duty to, take
or refrain from taking such action not inconsistent with this Trust Agreement as
it shall deem advisable and in the best interests of the Securityholders, in
which event the Property Trustee shall have no liability except for its own bad
faith, negligence or willful misconduct;

                  (c) the Property Trustee may consult with counsel of its
selection and the written advice of such counsel or any Opinion of Counsel shall
be full and complete authorization and protection in respect of any action
taken, suffered or omitted by it hereunder in good faith and in reliance
thereon;

                  (d) the Property Trustee shall be under no obligation to
exercise any of the rights or powers vested in it by this Trust Agreement at the
request or direction of any of the Securityholders pursuant to this Trust
Agreement, unless such Securityholders shall have offered to the Property
Trustee reasonable security or indemnity against the costs, expenses and
liabilities which might be incurred by it in compliance with such request or
direction;

                  (e) the Property Trustee shall not be bound to make any
investigation into the facts or matters stated in any resolution, certificate,
statement, instrument, opinion, report, notice, request, consent, order,
approval, bond or other document, unless requested in writing to do so by one or
more Securityholders; and

                  (f) the Property Trustee may execute any of the trusts or
powers hereunder or perform any duties hereunder either directly or by or
through its agents or attorneys; provided that the Property Trustee shall be
responsible for its own negligence or recklessness with respect to selection of
any agent or attorney appointed by it hereunder.

                  Section 8.04.     Not Responsible for Recitals or Issuance of
Securities

         The recitals contained herein and in the Trust Securities Certificates
shall be taken as the statements of the Trust, and the Trustees do not assume
any responsibility for their correctness. The Trustees shall not be accountable
for the use or application by the Trust of the proceeds of the Trust Securities
in accordance with Section 2.05.

                  The Property Trustee may conclusively assume that any funds
held by it hereunder are legally available unless an officer of the Property
Trustee assigned to its Institutional Trust Services Department shall have
received written notice from the Company, any Holder or any other Trustee that
such funds are not legally available.

                  Section 8.05.     May Hold Securities

                  Except as provided in the definition of the term "Outstanding"
in Article I, any Trustee or any other agent of the Trustees or the Trust, in
its individual or any other capacity, may become the owner or pledgee of Trust
Securities and may otherwise deal with the Trust with the same rights it would
have if it were not a Trustee or such other agent.

                  Section 8.06.     Compensation; Fees; Indemnity

                  The Depositor agrees:

                  (a) to pay to the Trustees from time to time reasonable
compensation for all services rendered by the Trustees hereunder (which
compensation shall not be limited by any provision of law in regard to the
compensation of a trustee of an express trust);

                  (b) except as otherwise expressly provided herein, to
reimburse the Trustees upon request for all reasonable expenses, disbursements
and advances incurred or made by the Trustees in accordance with any provision
of this Trust Agreement (including the reasonable compensation and the expenses
and disbursements of their agents and counsel), except any such expense,
disbursement or advance as may be attributable to their willful misconduct,
negligence or bad faith; and

                  (c) to indemnify the Trustees for, and to hold the Trustees
harmless against, any and all loss, damage, claims, liability or expense
incurred without willful misconduct, negligence or bad faith on their part,
arising out of or in connection with the acceptance or administration of this
Trust Agreement, including the costs and expenses of defending themselves
against any claim or liability in connection with the exercise or performance of
any of their powers or duties hereunder.

                  The provisions of this Section 8.06 shall survive the
termination of this Trust Agreement.

                  Section 8.07.     Trustees Required; Eligibility

                  (a) There shall at all times be a Property Trustee hereunder
with respect to the Trust Securities. The Property Trustee shall be a Person
that has a combined capital and surplus of at least $50,000,000. If any such
Person publishes reports of condition at least annually, pursuant to law or to
the requirements of its supervising or examining authority, then for the
purposes of this Section, the combined capital and surplus of such Person shall
be deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. If at any time the Property Trustee with
respect to the Trust Securities shall cease to be eligible in accordance with
the provisions of this Section, it shall resign immediately in the manner and
with the effect hereinafter specified in this Article.

                  (b) There shall at all times be one or more Administrative
Trustees hereunder with respect to the Trust Securities. Each Administrative
Trustee shall be either a natural person who is at least 21 years of age or a
legal entity that shall act through one or more persons authorized to bind such
entity.

                  (c) There shall at all times be a Delaware Trustee with
respect to the Trust Securities. The Delaware Trustee shall either be (i) a
natural person who is at least 21 years of age and a resident of the State of
Delaware or (ii) a legal entity authorized to conduct a trust business and with
its principal place of business in the State of Delaware that shall act through
one or more persons authorized to bind such entity.

                  Section 8.08.     Conflicting Interests

         If the Property Trustee has or shall acquire a conflicting interest
within the meaning of the Trust Indenture Act, the Property Trustee shall either
eliminate such interest or resign, to the extent and in the manner provided by,
and subject to the provisions of, the Trust Indenture Act and this Trust
Agreement. To the extent permitted by the Trust Indenture Act, the Property
Trustee shall not be deemed to have a conflicting interest by virtue of being
trustee under (i) the Guarantee, (ii) the amended and restated trust agreement
dated as of August 1, 1996, among the Company, as Depositor, the Delaware Bank,
as Delaware Trustee, the Administrative Trustees named therein and the Bank, as
Property Trustee, relating to Georgia Power Capital Trust I, (iii) the guarantee
agreement dated as of August 1, 1996, between the Company, as guarantor, and the
Bank, as trustee, relating to Georgia Power Capital Trust I, (iv) the amended
and restated trust agreement dated as of January 1, 1997, among the Company, as
Depositor, the Delaware Bank, as Delaware Trustee, the Administrative Trustees
named therein and the Bank, as Property Trustee, relating to Georgia Power
Capital Trust II, (v) the guarantee agreement dated as of January 1, 1997,
between the Company, as guarantor, and the Bank, as trustee, relating to Georgia
Power Capital Trust II, (vi) the amended and restated trust agreement dated as
of June 1, 1997, among the Company, as Depositor, the Delaware Bank, as Delaware
Trustee, the Administrative Trustees named therein and the Bank, as Property
Trustee, relating to Georgia Power Capital Trust III, (vii) the guarantee
agreement dated as of June 1, 1997, between the Company, as guarantor, and the
Bank, as trustee, relating to Georgia Power Capital Trust III, (viii) the
amended and restated trust agreement dated as of February 1, 1999, among the
Company, as Depositor, the Delaware Bank, as Delaware Trustee, the
Administrative Trustees named therein and the Bank, as Property Trustee,
relating to Georgia Power Capital Trust IV, (ix) the guarantee agreement dated
as of February 1, 1999, between the Company, as guarantor, and the Bank, as
trustee, relating to Georgia Power Capital Trust IV, (x) the amended and
restated trust agreement dated as of June 1, 2002, among the Company, as
Depositor, the Delaware Bank, as Delaware Trustee, the Administrative Trustees
named therein and the Bank, as Property Trustee, relating to Georgia Power
Capital Trust V, and (xi) the guarantee agreement dated as of June 1, 2002,
between the Company, as guarantor, and the Bank, as trustee, relating to Georgia
Power Capital Trust V.

                  Section 8.09.     Co-Trustees and Separate Trustee

                  At any time or times, for the purpose of meeting the legal
requirements of the Trust Indenture Act or of any jurisdiction in which any part
of the Trust Property may at the time be located, the Holder of the Common
Securities and the Property Trustee shall have power to appoint, and upon the
written request of the Property Trustee, the Depositor shall for such purpose
join with the Property Trustee in the execution, delivery and performance of all
instruments and agreements necessary or proper to appoint, one or more Persons
approved by the Property Trustee either to act as co-trustee, jointly with the
Property Trustee, of all or any part of such Trust Property, or to act as
separate trustee of any such Trust Property, in either case with such powers as
may be provided in the instrument of appointment, and to vest in such Person or
Persons in the capacity aforesaid, any property, title, right or power deemed
necessary or desirable, subject to the other provisions of this Section. If the
Depositor does not join in such appointment within 15 days after the receipt by
it of a request so to do, or in case an Indenture Event of Default has occurred
and is continuing, the Property Trustee alone shall have power to make such
appointment. Any co-trustee or separate trustee appointed pursuant to this
Section shall satisfy the requirements of Section 8.07.

                  Should any written instrument from the Depositor be required
by any co-trustee or separate trustee so appointed for more fully confirming to
such co-trustee or separate trustee such property, title, right, or power, any
and all such instruments shall, on request, be executed, acknowledged, and
delivered by the Depositor.

                  Every co-trustee or separate trustee shall, to the extent
permitted by law, but to such extent only, be appointed subject to the following
terms, namely:

                           (i) The Trust Securities shall be executed,
                  authenticated and delivered and all rights, powers, duties,
                  and obligations hereunder in respect of the custody of
                  securities, cash and other personal property held by, or
                  required to be deposited or pledged with, the Trustees
                  hereunder, shall be exercised, solely by the Trustees.

                           (ii) The rights, powers, duties, and obligations
                  hereby conferred or imposed upon the Property Trustee in
                  respect of any property covered by such appointment shall be
                  conferred or imposed upon and exercised or performed by the
                  Property Trustee or by the Property Trustee and such
                  co-trustee or separate trustee jointly, as shall be provided
                  in the instrument appointing such co-trustee or separate
                  trustee, except to the extent that under any law of any
                  jurisdiction in which any particular act is to be performed,
                  the Property Trustee shall be incompetent or unqualified to
                  perform such act, in which event such rights, powers, duties,
                  and obligations shall be exercised and performed by such
                  co-trustee or separate trustee.

                           (iii) The Property Trustee, at any time, by an
                  instrument in writing executed by it, with the written
                  concurrence of the Depositor, may accept the resignation of or
                  remove any co-trustee or separate trustee appointed under this
                  Section, and, in case an Indenture Event of Default has
                  occurred and is continuing, the Property Trustee shall have
                  power to accept the resignation of, or remove, any such
                  co-trustee or separate trustee without the concurrence of the
                  Depositor. Upon the written request of the Property Trustee,
                  the Depositor shall join with the Property Trustee in the
                  execution, delivery, and performance of all instruments and
                  agreements necessary or proper to effectuate such resignation
                  or removal. A successor to any co-trustee or separate trustee
                  so resigned or removed may be appointed in the manner provided
                  in this Section.

                           (iv) No co-trustee or separate trustee hereunder
                  shall be personally liable by reason of any act or omission of
                  the Property Trustee, or any other such trustee hereunder.

                           (v) The Trustees shall not be liable by reason of any
                  act of a co-trustee or separate trustee.

                           (vi) Any Act of Holders delivered to the Property
                  Trustee shall be deemed to have been delivered to each such
                  co-trustee and separate trustee.

                  Section 8.10.     Resignation and Removal; Appointment of
Successor

                  No resignation or removal of any Trustee (the "Relevant
Trustee") and no appointment of a successor Relevant Trustee pursuant to this
Article shall become effective until the acceptance of appointment by the
successor Relevant Trustee in accordance with the applicable requirements of
Section 8.11.

                  The Relevant Trustee may resign at any time by giving written
notice thereof to the Securityholders. If the instrument of acceptance by a
successor Relevant Trustee required by Section 8.11 shall not have been
delivered to the Relevant Trustee within 30 days after the giving of such notice
of resignation, the resigning Relevant Trustee may petition any court of
competent jurisdiction for the appointment of a successor Relevant Trustee.

                  Unless an Indenture Event of Default shall have occurred and
be continuing, the Relevant Trustee may be removed at any time by Act of the
Holder of the Common Securities. If an Indenture Event of Default shall have
occurred and be continuing, the Relevant Trustee may be removed at such time by
Act of the Securityholders of a majority in Liquidation Amount of the Preferred
Securities Certificates, delivered to the Relevant Trustee (in its individual
capacity and on behalf of the Trust).

                  If the Relevant Trustee shall resign, be removed or become
incapable of continuing to act as Trustee at a time when no Indenture Event of
Default shall have occurred and be continuing, the Holder of the Common
Securities, by Act of the Holder of the Common Securities delivered to the
retiring Relevant Trustee, shall promptly appoint a successor Relevant Trustee
or Trustees, and the retiring Relevant Trustee shall comply with the applicable
requirements of Section 8.11. If the Relevant Trustee shall resign, be removed
or become incapable of continuing to act as the Relevant Trustee at a time when
an Indenture Event of Default shall have occurred and be continuing, the Holders
of Preferred Securities, by Act of the Securityholders of a majority in
Liquidation Amount of the Preferred Securities then outstanding delivered to the
retiring Relevant Trustee, shall promptly appoint a successor Relevant Trustee
or Trustees, and the Relevant Trustee shall comply with the applicable
requirements of Section 8.11. If no successor Relevant Trustee shall have been
so appointed in accordance with this Section 8.10 and accepted appointment in
the manner required by Section 8.11, any Securityholder who has been a
Securityholder of Trust Securities for at least six months may, on behalf of
himself and all others similarly situated, petition any court of competent
jurisdiction for the appointment of a successor Relevant Trustee.

                  The retiring Relevant Trustee shall give notice of each
resignation and each removal of the Relevant Trustee, and each appointment of a
successor Trustee to all Securityholders in the manner provided in Section 11.08
and shall give notice to the Depositor. Each notice shall include the name of
the successor Relevant Trustee and the address of its Corporate Trust Office if
it is the Property Trustee.

                  Notwithstanding the foregoing or any other provision of this
Trust Agreement, in the event any Administrative Trustee or a Delaware Trustee
who is a natural person dies or becomes incompetent or incapacitated, the
vacancy created by such death, incompetence or incapacity may be filled by (i)
the act of the remaining Administrative Trustee or (ii) otherwise by the
Depositor (with the successor in each case being an individual who satisfies the
eligibility requirement for Administrative Trustees set forth in Section 8.07).
Additionally, notwithstanding the foregoing or any other provision of this Trust
Agreement, in the event the Depositor believes that any Administrative Trustee
has become incompetent or incapacitated, the Depositor, by notice to the
remaining Trustees, may terminate the status of such Person as an Administrative
Trustee (in which case the vacancy so created will be filled in accordance with
the preceding sentence).

                  Section 8.11.     Acceptance of Appointment by Successor

                  In case of the appointment hereunder of a successor Relevant
Trustee, every such successor Relevant Trustee so appointed shall execute,
acknowledge and deliver to the Trust and to the retiring Relevant Trustee an
instrument accepting such appointment, and thereupon the resignation or removal
of the retiring Relevant Trustee shall become effective and such successor
Relevant Trustee, without any further act, deed or conveyance, shall become
vested with all the rights, powers, trusts and duties of the retiring Relevant
Trustee; but, on the request of the Depositor or the successor Relevant Trustee,
such retiring Relevant Trustee shall, upon payment of its charges, execute and
deliver an instrument transferring to such successor Relevant Trustee all the
rights, powers and trusts of the retiring Relevant Trustee and shall duly
assign, transfer and deliver to such successor Relevant Trustee all property and
money held by such retiring Relevant Trustee hereunder.

                  Upon request of any such successor Relevant Trustee, the Trust
shall execute any and all instruments for more fully and certainly vesting in
and confirming to such successor Relevant Trustee all such rights, powers and
trusts referred to in the preceding paragraph.
No successor Relevant Trustee shall accept its appointment unless at the time of
such acceptance such successor Relevant Trustee shall be qualified and eligible
under this Article.

                  Section 8.12.     Merger, Conversion, Consolidation or
Succession to Business

                  Any Person into which the Property Trustee, Delaware Trustee
or any Administrative Trustee which is not a natural person may be merged or
converted or with which it may be consolidated, or any Person resulting from any
merger, conversion or consolidation to which such Relevant Trustee shall be a
party, or any Person succeeding to all or substantially all the corporate trust
business of such Relevant Trustee, shall be the successor of such Relevant
Trustee hereunder; provided such Person shall be otherwise qualified and
eligible under this Article, without the execution or filing of any paper or any
further act on the part of any of the parties hereto.

                  Section 8.13.     Preferential Collection of Claims Against
Depositor or Trust

                  If and when the Property Trustee shall be or become a creditor
of the Depositor or the Trust (or any other obligor upon the Junior Subordinated
Notes or the Trust Securities), the Property Trustee shall be subject to the
provisions of the Trust Indenture Act regarding the collection of claims against
the Depositor or Trust (or any such other obligor). For purposes of Section
311(b)(4) and (6) of the Trust Indenture Act:

                  (a) "cash transaction" means any transaction in which full
payment for goods or securities sold is made within seven days after delivery of
the goods or securities in currency or in checks or other orders drawn upon
banks or bankers and payable upon demand; and

                  (b) "self-liquidating paper" means any draft, bill of
exchange, acceptance or obligation which is made, drawn, negotiated or incurred
by the Depositor or the Trust (or any such obligor) for the purpose of financing
the purchase, processing, manufacturing, shipment, storage or sale of goods,
wares or merchandise and which is secured by documents evidencing title to,
possession of, or a lien upon, the goods, wares or merchandise or the
receivables or proceeds arising from the sale of the goods, wares or merchandise
previously constituting the security; provided the security is received by the
Property Trustee simultaneously with the creation of the creditor relationship
with the Depositor or the Trust (or any such obligor) arising from the making,
drawing, negotiating or incurring of the draft, bill of exchange, acceptance or
obligation.

                  Section 8.14.     Reports by Property Trustee

                  (a) Within 60 days after May 15 of each year commencing with
May 15, 2003, if required by Section 313(a) of the Trust Indenture Act, the
Property Trustee shall transmit a brief report dated as of such May 15 with
respect to any of the events specified in such Section 313(a) that may have
occurred since the later of the date of this Trust Agreement or the preceding
May 15.

                  (b) The Property Trustee shall transmit to Securityholders the
reports required by Section 313(b) of the Trust Indenture Act at the times
specified therein.

                  (c) Reports pursuant to this Section shall be transmitted in
the manner and to the Persons required by Sections 313(c) and (d) of the Trust
Indenture Act.

                  Section 8.15.     Reports to the Property Trustee

                  The Depositor and the Administrative Trustees on behalf of the
Trust shall provide to the Property Trustee such documents, reports and
information as required by Section 314 of the Trust Indenture Act (if any) and,
within 120 days after the end of each fiscal year of the Depositor, the
compliance certificate required by Section 314(a)(4) of the Trust Indenture Act
in the form and in the manner required by Section 314 of the Trust Indenture
Act.

                  Section 8.16.     Evidence of Compliance with Conditions
Precedent

                  Each of the Depositor and the Administrative Trustees on
behalf of the Trust shall provide to the Property Trustee such evidence of
compliance with any conditions precedent, if any, provided for in this Trust
Agreement that relate to any of the matters set forth in Section 314(c) of the
Trust Indenture Act. Any certificate or opinion required to be given pursuant to
Section 314(c)(1) of the Trust Indenture Act shall comply with Section 314(e) of
the Trust Indenture Act.

                  Section 8.17.     Number of Trustees

                  (a) The number of Trustees shall initially be four; provided
that the Depositor by written instrument may increase or decrease the number of
Administrative Trustees.

                  (b) If a Trustee ceases to hold office for any reason and the
number of Administrative Trustees is not reduced pursuant to Section 8.17(a), or
if the number of Trustees is increased pursuant to Section 8.17(a), a vacancy
shall occur. The vacancy shall be filled with a Trustee appointed in accordance
with Section 8.10.

                  (c) The death, resignation, retirement, removal, bankruptcy,
incompetence or incapacity to perform the duties of a Trustee shall not operate
to annul the Trust. Whenever a vacancy in the number of Administrative Trustees
shall occur, until such vacancy is filled by the appointment of an
Administrative Trustee in accordance with Section 8.10, the Administrative
Trustees in office, regardless of their number (and notwithstanding any other
provision of this Trust Agreement), shall have all powers granted to the
Administrative Trustees and shall discharge the duties imposed upon the
Administrative Trustees by this Trust Agreement.

                  Section 8.18.     Delegation of Power

                  (a) Any Administrative Trustee may, by power of attorney
consistent with applicable law, delegate to any other natural person over the
age of 21 his or her power for the purpose of executing any documents
contemplated in Section 2.07(A), including any registration statement or
amendment thereto filed with the Commission, or making any other governmental
filing; and

                  (b) The Administrative Trustees shall have power to delegate
from time to time to such of their number the doing of such things and the
execution of such instruments either in the name of the Trust or the names of
the Administrative Trustees or otherwise as the Administrative Trustees may deem
expedient, to the extent such delegation is not prohibited by applicable law or
contrary to the provisions of the Trust, as set forth herein.

                  Section 8.19.    Enforcement of Rights of Property Trustee by
Securityholders

                  If (i) the Trust fails to pay Distributions in full on the
Preferred Securities for more than five consecutive years at any one time, or
(ii) an Event of Default occurs and is continuing, then the Holders of Preferred
Securities will rely on the enforcement by the Property Trustee of its rights
against the Company as the holder of the Junior Subordinated Notes. In addition,
the Holders of a majority in aggregate Liquidation Amount of the Preferred
Securities will have the right to direct the time, method, and place of
conducting any proceeding for any remedy available to the Property Trustee or to
direct the exercise of any trust or power conferred upon the Property Trustee
under this Trust Agreement, including the right to direct the Property Trustee
to exercise the remedies available to it as a holder of the Junior Subordinated
Notes; provided that such direction shall not be in conflict with any rule of
law or with this Trust Agreement, and could not involve the Property Trustee in
personal liability in circumstances where reasonable indemnity would not be
adequate. If the Property Trustee fails to enforce its rights under the Junior
Subordinated Notes, a Holder of Preferred Securities may, to the fullest extent
permitted by applicable law, institute a legal proceeding against the Company to
enforce its rights under this Trust Agreement without first instituting any
legal proceeding against the Property Trustee or any other Person, including the
Trust; it being understood and intended that no one or more of such Holders
shall have any right in any manner whatsoever by virtue of, or by availing of,
any provision of this Trust Agreement to affect, disturb or prejudice the rights
of any other of such Holders or to obtain or to seek to obtain priority or
preference over any other of such Holders or to enforce any right under this
Trust Agreement, except in the manner herein provided and for the equal and
ratable benefit of all such Holders. Notwithstanding the foregoing, a Holder of
Preferred Securities may institute a legal proceeding directly against the
Company, without first instituting a legal proceeding against or requesting or
directing that action be taken by the Property Trustee or any other Person, for
enforcement of payment to such Holder of principal of or interest on the Junior
Subordinated Notes having a principal amount equal to the aggregate stated
liquidation amount of the Preferred Securities of such Holder on or after the
due dates therefor specified or provided for in the Junior Subordinated Notes.
The Company shall be subrogated to all rights of the Holders of Preferred
Securities in respect of any amounts paid to such Holders by the Company
pursuant to this Section.

                  Section 8.20.     Delaware Trustee

                  (a) Notwithstanding any other provision of this Trust
Agreement, the Delaware Trustee shall not be entitled to exercise any powers,
nor shall the Delaware Trustee have any of the duties and responsibilities of
the Administrative Trustees or the Property Trustee described in this Trust
Agreement. The Delaware Trustee shall be a trustee for the sole and limited
purpose of fulfilling the requirements of ss.3807 of the Delaware Statutory
Trust Act.

                  (b) It is expressly understood and agreed by the parties
hereto that in fulfilling its obligations as Delaware Trustee hereunder on
behalf of the Trust (i) any agreements or instruments executed and delivered by
Chase Manhattan Bank USA, National Association are executed and delivered not in
its individual capacity but solely as Delaware Trustee under this Trust
Agreement in the exercise of the powers and authority conferred and vested in
it, (ii) each of the representations, undertakings and agreements herein made on
the part of the Trust is made and intended not as representations, warranties,
covenants, undertakings and agreements by Chase Manhattan Bank USA, National
Association in its individual capacity but is made and intended for the purpose
of binding only the Trust, and (iii) under no circumstances shall Chase
Manhattan Bank USA, National Association in its individual capacity be
personally liable for the payment of any indebtedness or expenses of the Trust
or be liable for the breach or failure of any obligation, representation,
warranty or covenant made or undertaken by the Trust under this Trust Agreement,
except if such breach or failure is due to any gross negligence or willful
misconduct of the Delaware Trustee.

                                   Article IX

                           Termination and Liquidation

                  Section 9.01.     Termination Upon Expiration Date

                  The Trust shall automatically terminate on December 31, 2042
(the "Expiration Date") or earlier pursuant to Section 9.02.

                  Section 9.02.     Early Termination

                  Upon the first to occur of any of the following events (such
first occurrence, an "Early Termination Event"), the Trust shall be dissolved
and terminated in accordance with the terms hereof:

                           (i) the occurrence of a Bankruptcy Event in respect
                  of the Depositor, dissolution or liquidation of the Depositor,
                  or the dissolution of the Trust pursuant to judicial decree;

                           (ii) the delivery of written direction to the
                  Property Trustee by the Depositor at any time (which direction
                  is optional and wholly within the discretion of the Depositor)
                  to terminate the Trust and distribute the Junior Subordinated
                  Notes to Securityholders as provided in Section 9.04; and

                           (iii) the payment at maturity or redemption of all of
                  the Junior Subordinated Notes, and the consequent payment of
                  the Preferred Securities.

                  Section 9.03.     Termination

                  The respective obligations and responsibilities of the Trust
and the Trustees created hereby shall terminate upon the latest to occur of the
following: (a) the distribution by the Property Trustee to Securityholders upon
the liquidation of the Trust pursuant to Section 9.04, or upon the redemption of
all of the Trust Securities pursuant to Section 4.04, of all amounts or
instruments required to be distributed hereunder upon the final payment of the
Trust Securities; (b) the payment of any expenses owed by the Trust; and (c) the
discharge of all administrative duties of the Administrative Trustees, including
the performance of any tax reporting obligations with respect to the Trust or
the Securityholders.

                  Section 9.04.     Liquidation

                  (a) If any Early Termination Event specified in clause (ii) of
Section 9.02 occurs, the Trust shall be liquidated and the Property Trustee
shall distribute the Junior Subordinated Notes to the Securityholders as
provided in this Section 9.04.

                  (b) In connection with a distribution of the Junior
Subordinated Notes, each Holder of Trust Securities shall be entitled to
receive, after the satisfaction of liabilities to creditors of the Trust (as
evidenced by a certificate of the Administrative Trustees), a Like Amount of
Junior Subordinated Notes. Notice of liquidation shall be given by the Trustees
by first-class mail, postage prepaid, mailed not later than 30 nor more than 60
days prior to the Liquidation Date to each Holder of Trust Securities at such
Holder's address appearing in the Securities Register. All notices of
liquidation shall:

                           (i) state the Liquidation Date;

                           (ii) state that from and after the Liquidation Date,
                  the Trust Securities will no longer be deemed to be
                  Outstanding and any Trust Securities Certificates not
                  surrendered for exchange will be deemed to represent a Like
                  Amount of Junior Subordinated Notes; and

                           (iii) provide such information with respect to the
                  mechanics by which Holders may exchange Trust Securities
                  Certificates for Junior Subordinated Notes as the
                  Administrative Trustees or the Property Trustee shall deem
                  appropriate.

                  (c) In order to effect the liquidation of the Trust and
distribution of the Junior Subordinated Notes to Securityholders, the Property
Trustee shall establish a record date for such distribution (which shall be not
more than 45 days prior to the Liquidation Date) and, either itself acting as
exchange agent or through the appointment of a separate exchange agent, shall
establish such procedures as it shall deem appropriate to effect the
distribution of Junior Subordinated Notes in exchange for the Outstanding Trust
Securities Certificates.

                  (d) After the Liquidation Date, (i) the Trust Securities will
no longer be deemed to be Outstanding, (ii) certificates representing a Like
Amount of Junior Subordinated Notes will be issued to Holders of Trust
Securities Certificates, upon surrender of such certificates to the
Administrative Trustees or their agent for exchange, (iii) any Trust Securities
Certificates not so surrendered for exchange will be deemed to represent a Like
Amount of Junior Subordinated Notes, accruing interest at the rate provided for
in the Junior Subordinated Notes from the last Distribution Payment Date on
which a Distribution was made on such Trust Certificates until such certificates
are so surrendered (and until such certificates are so surrendered, no payments
of interest or principal will be made to Holders of Trust Securities
Certificates with respect to such Junior Subordinated Notes) and (iv) all rights
of Securityholders holding Trust Securities will cease, except the right of such
Securityholders to receive Junior Subordinated Notes upon surrender of Trust
Securities Certificates.

                  (e) The Depositor will use its best efforts to have the Junior
Subordinated Notes that are distributed in exchange for the Preferred Securities
to be listed on such securities exchange as the Preferred Securities are then
listed. The Depositor may elect to have the Junior Subordinated Notes issued in
book-entry form to the Clearing Agency or its nominee pursuant to a Certificate
Depository Agreement.

                  Section 9.05.     Bankruptcy

                  If an Early Termination Event specified in clause (i) of
Section 9.02 has occurred, the Trust shall be liquidated. The Property Trustee
shall distribute the Junior Subordinated Notes to the Securityholders as
provided in Section 9.04, unless such distribution is determined by the
Administrative Trustees not to be practical, in which event the Holders will be
entitled to receive out of the assets of the Trust available for distribution to
Securityholders, after satisfaction of liabilities to creditors, an amount equal
to the Liquidation Amount per Trust Security plus accrued and unpaid
Distributions thereon to the date of payment (such amount being the "Liquidation
Distribution"). If such Liquidation Distribution can be paid only in part
because the Trust has insufficient assets available to pay in full the aggregate
Liquidation Distribution, then, subject to the next succeeding sentence, the
amounts payable by the Trust on the Trust Securities shall be paid on a pro rata
basis (based upon Liquidation Amounts). The Holder of the Common Securities will
be entitled to receive Liquidation Distributions upon any such dissolution,
winding-up or termination pro rata (determined as aforesaid) with Holders of
Preferred Securities, except that, if an Indenture Event of Default has occurred
and is continuing, the Preferred Securities shall have a priority over the
Common Securities.

                  Section 9.06.     Certificate of Cancellation

                  A Certificate of Cancellation ("Certificate") to terminate and
dissolve the Trust (as permitted hereby) may be signed by any Administrative
Trustee, individually, in such capacity so long as such Certificate fully
complies with all legal requirements.

                                    Article X

                             Remarketing Procedures

                  Section 10.01     Election to Remarket

                  If the Company and the Administrative Trustees elect to
conduct a Remarketing, the Trust, not less than 20 nor more than 35 Business
Days prior to the related Election Date, is required to give the notice of
proposed Remarketing of the Preferred Securities to the Clearing Agency, the
Property Trustee, the Indenture Trustee, the Remarketing Agent and the
Calculation Agent. If the Preferred Securities are not issued in global, fully
registered form to the Clearing Agency, such notice shall be delivered to the
Holders instead of the Clearing Agency. Such notice will describe the
Remarketing and will indicate the length of the proposed new Fixed Rate Period,
the proposed Remarketing Date and any redemption provisions that will apply
during such new Fixed Rate Period. At any time prior to the Election Date, the
Company and the Administrative Trustees may elect to terminate a Remarketing by
giving the Clearing Agency, the Remarketing Agent, the Property Trustee, the
Indenture Trustee and the Calculation Agent notice of such termination.

                  Section 10.02     Notice of Election

                  (a) Not later than 4:00 P.M., New York City time, on an
Election Date, each Holder of Preferred Securities may give, through the
facilities of the Clearing Agency in the case of Book-Entry Preferred Securities
Certificates, a notice to the Property Trustee of its election ("Notice of
Election") (i) to retain and not to have all or any portion of the Preferred
Securities owned by it remarketed in the Remarketing or (ii) to tender all or
any portion of such Preferred Securities for purchase in the Remarketing (such
portion, in either case, is to be in the Liquidation Amount of $1,000 or any
integral multiple thereof). Any Notice of Election given to the Property Trustee
will be irrevocable and may not be conditioned upon the level at which the Fixed
Rate is established in the Remarketing. Promptly after 4:30 P.M., New York City
time, on such Election Date, the Property Trustee, based on the Notices of
Election received by it through the Clearing Agency (or from the Holders, if
Definitive Preferred Securities Certificates have been issued) prior to such
time, will notify the Trust, the Company and the Remarketing Agent of the number
of Preferred Securities to be retained by holders of Preferred Securities and
the number of Preferred Securities tendered for purchase in the Remarketing.

                  (b) If any Holder of Preferred Securities gives a Notice of
Election to tender Preferred Securities as described in 10.02(a), the Preferred
Securities so subject to such Notice of Election will be deemed tendered for
purchase in the Remarketing, notwithstanding any failure by such Holder to
deliver or properly deliver such Preferred Securities to the Remarketing Agent
for purchase. If any Holder of Preferred Securities fails timely to deliver a
Notice of Election, as described above, such Preferred Securities will be deemed
tendered for purchase in such Remarketing, notwithstanding such failure or the
failure by such Holder to deliver or properly deliver such Preferred Securities
to the Remarketing Agent for purchase.

                  (c) The right of each Holder of Preferred Securities to have
Preferred Securities tendered for purchase shall be limited to the extent that
(i) the Remarketing Agent conducts a Remarketing pursuant to the terms of the
Remarketing Agreement, (ii) Preferred Securities tendered have not been called
for redemption, (iii) the Remarketing Agent is able to find a purchaser or
purchasers for tendered Preferred Securities at a Fixed Rate and (iv) such
purchaser or purchasers deliver the purchase price therefor to the Remarketing
Agent.

                  (d) Any Holder of Preferred Securities that desires to
continue to retain a number of Preferred Securities, but only if the Fixed Rate
is not less than a specified rate per annum, should submit a Notice of Election
to tender such Preferred Securities and separately notify the Remarketing Agent
of its interest at the telephone number set forth in the notice of Remarketing.
If such Holder so notifies the Remarketing Agent, the Remarketing Agent will
give priority to such Holder's purchase of such number of Preferred Securities
in the Remarketing providing that the Fixed Rate is not less than such specified
rate.

                  Section 10.03     Determination of Distribution Rate

                  (a) If Holders submit Notices of Election to retain all of the
Preferred Securities then outstanding, the Fixed Rate will be the rate
determined by the Remarketing Agent, in its sole discretion, as the rate that
would have been established had a Remarketing been held on the related
Remarketing Date.

                  (b) On any Remarketing Date on which the Remarketing is to be
conducted, the Remarketing Agent will use commercially reasonable efforts to
remarket, at a price equal to 100% of the Liquidation Amount thereof, Preferred
Securities tendered or deemed tendered for purchase. Except as provided in
Section 10.03(a), if, as a result of such efforts, on any Remarketing Date, the
Remarketing Agent has determined that it will be able to remarket all Preferred
Securities tendered or deemed tendered for purchase in the Remarketing at a
Fixed Rate and at a price of $1,000 per Preferred Security, prior to 4:00 P.M.,
New York City time, on such Remarketing Date, the Remarketing Agent will
determine the Fixed Rate, which will be the rate per annum (rounded to the
nearest one-thousandth (0.001) of one percent per annum) which the Remarketing
Agent determines, in its sole judgment, to be the lowest Fixed Rate per annum,
if any, that will enable it to remarket all Preferred Securities tendered or
deemed tendered for remarketing at a price of $1,000 per Preferred Security.

                  (c) If the Remarketing Agent is unable to remarket by 4:00
P.M., New York City time on the third Business Day prior to the Remarketing
Settlement Date, all Preferred Securities tendered or deemed tendered for a
purchase at a price of $1,000 per Preferred Security, the Distribution Rate for
the next Distribution Period shall be the Floating Rate. In such case, no
Preferred Securities will be sold in the Remarketing and each Holder will
continue to hold its Preferred Securities at the Floating Rate.

                  (d) All Preferred Securities tendered or deemed tendered in
the Remarketing will be automatically delivered to the account of the
Remarketing Agent through the facilities of the Clearing Agency against payment
of the purchase price therefor on the Remarketing Settlement Date. The
Remarketing Agent will make payment to the Clearing Agency Participant of each
tendering holder of Preferred Securities in the Remarketing through the
facilities of the Clearing Agency by the close of business on the Remarketing
Settlement Date.

                  In accordance with the Clearing Agency's normal procedures, on
the Remarketing Settlement Date, the transaction described above with respect to
each Preferred Security tendered for purchase and sold in the Remarketing will
be executed through the Clearing Agency Participants, will be debited and
credited and such Preferred Securities delivered by book entry as necessary to
effect purchases and sales of such Preferred Securities. The Clearing Agency is
expected to make payment in accordance with its normal procedures.

                  This Section 10.03(d) shall not apply if Definitive Preferred
Securities Certificates have been issued.

                  (e) If any Holder selling Preferred Securities in the
Remarketing fails to deliver such Preferred Securities, the Clearing Agency
Participant of such selling Holder and of any other person that was to have
purchased Preferred Securities in the Remarketing may deliver to any such other
person a number of Preferred Securities that is less than the number of
Preferred Securities that otherwise was to be purchased by such person. In such
event, the number of Preferred Securities to be so delivered will be determined
by such Clearing Agency Participant and delivery of such lesser number of
Preferred Securities will constitute good delivery. This paragraph shall not
apply if Definitive Preferred Securities Certificates have been issued.

                  The Remarketing Agent is not obligated to purchase any
Preferred Securities that would otherwise remain unsold in a Remarketing.
Neither the Trust, any Securities Trustee, the Company nor the Remarketing Agent
shall be obligated in any case to provide funds to make payment upon tender of
Preferred Securities for Remarketing.

                                   Article XI

                            Miscellaneous Provisions

                  Section 11.01.    Guarantee by the Depositor

                  Subject to the terms and conditions hereof, the Depositor
irrevocably and unconditionally guarantees to each Person to whom the Trust is
now or hereafter becomes indebted or liable (the "Beneficiaries") the full
payment, when and as due, of any and all Obligations (as hereinafter defined) to
such Beneficiaries. As used herein, "Obligations" means any indebtedness,
expenses or liabilities of the Trust, other than obligations of the Trust to pay
to Holders of any Preferred Securities or other similar interests in the Trust
the amounts due such Holders pursuant to the terms of the Preferred Securities
or such other similar interests, as the case may be. This guarantee is intended
to be for the benefit of, and to be enforceable by, all such Beneficiaries,
whether or not such Beneficiaries have received notice hereof.

                  Section 11.02.    Limitation of Rights of Securityholders

                  The death or incapacity of any Person having an interest,
beneficial or otherwise, in a Trust Security shall not operate to terminate this
Trust Agreement, nor entitle the legal representatives or heirs of such Person
or any Securityholder for such Person, to claim an accounting, take any action
or bring any proceeding in and for a partition or winding up of the arrangements
contemplated hereby, nor otherwise affect the rights, obligations and
liabilities of the parties hereto or any of them.

                  Section 11.03.    Amendment

                  (a) This Trust Agreement may be amended from time to time by
the Trustees and the Depositor, without the consent of any Securityholders, (i)
to cure any ambiguity, correct or supplement any provision herein which may be
inconsistent with any other provision herein, or to make any other provisions
with respect to matters or questions arising under this Trust Agreement, which
shall not be inconsistent with the other provisions of this Trust Agreement;
provided, however, that any such amendment shall not adversely affect in any
material respect the interests of any Securityholder or (ii) to modify,
eliminate or add to any provisions of this Trust Agreement to such extent as
shall be necessary to ensure that the Trust will not be classified as other than
a grantor trust for United States federal income tax purposes at any time that
any Trust Securities are outstanding; provided, however, that, except in the
case of clause (ii), such action shall not adversely affect in any material
respect the interests of any Securityholder and, in the case of clause (i), any
amendments of this Trust Agreement shall become effective when notice thereof is
given to the Securityholders.

                  (b) Except as provided in Section 11.03(c) hereof, any
provision in this Trust Agreement may be amended by the Trust or the Trustees
with (i) the consent of Trust Securityholders representing not less than 66-2/3%
(based upon Liquidation Amounts) of the Trust Securities then Outstanding and
(ii) receipt by the Trustees of an Opinion of Counsel to the effect that such
amendment or the exercise of any power granted to the Trustees in accordance
with such amendment will not affect the Trust's status as a grantor trust for
United States federal income tax purposes or the Trust's exemption from status
of an "investment company" under the Investment Company Act of 1940, as amended.

                  (c) In addition to and notwithstanding any other provision in
this Trust Agreement, without the consent of each affected Securityholder (such
consent being obtained in accordance with Section 6.03 or 6.06 hereof), this
Trust Agreement may not be amended to (i) change the amount or timing of any
Distribution on the Trust Securities or otherwise adversely affect the amount of
any Distribution required to be made in respect of the Trust Securities as of a
specified date, (ii) restrict the right of a Securityholder to institute suit
for the enforcement of any such payment on or after such date, or (iii) change
the consent required pursuant to Section 11.03.

                  (d) Notwithstanding any other provisions of this Trust
Agreement, the Trustees shall not enter into or consent to any amendment to this
Trust Agreement which would cause the Trust to fail or cease to qualify for the
exemption from status of an "investment company" under the Investment Company
Act of 1940, as amended, afforded by Rule 3a-5 thereunder.

                  (e) Without the consent of the Depositor, the Calculation
Agent or the Remarketing Agent, this Trust Agreement may not be amended in a
manner which imposes any additional obligation on the Depositor, the Calculation
Agent or the Remarketing Agent, as the case may be. In executing any amendment
permitted by this Trust Agreement, the Trustees shall be entitled to receive,
and (subject to Section 8.01) shall be fully protected in relying upon an
Opinion of Counsel stating that the execution of such amendment is authorized or
permitted by this Trust Agreement. Any Trustee may, but shall not be obligated
to, enter into any such amendment which affects such Trustee's own rights,
duties, immunities or liabilities under this Trust Agreement or otherwise.

                  (f) In the event that any amendment to this Trust Agreement is
made, the Administrative Trustees shall promptly provide to the Depositor a copy
of such amendment.

                  Section 11.04.    Separability

                  In case any provision in this Trust Agreement or in the Trust
Securities Certificates shall be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in
any way be affected or impaired thereby.

                  Section 11.05.    Governing Law

                  THIS TRUST AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF EACH OF
THE SECURITYHOLDERS, THE TRUST AND THE TRUSTEES WITH RESPECT TO THIS TRUST
AGREEMENT AND THE TRUST SECURITIES SHALL BE CONSTRUED IN ACCORDANCE WITH AND
GOVERNED BY THE INTERNAL LAWS OF THE STATE OF DELAWARE; PROVIDED THAT THE
IMMUNITIES AND STANDARD OF CARE OF THE PROPERTY TRUSTEE SHALL BE GOVERNED BY NEW
YORK LAW.

                  Section 11.06.    Successors

                  This Trust Agreement shall be binding upon and shall inure to
the benefit of any successor to both the Trust and the Trustees, including any
successor by operation of law.

                  Section 11.07.    Headings

                  The Article and Section headings are for convenience only and
shall not affect the construction of this Trust Agreement.

                  Section 11.08.    Notice and Demand

                  Any notice, demand or other communication which by any
provision of this Trust Agreement is required or permitted to be given or served
to or upon any Securityholder or the Depositor may be given or served in writing
by deposit thereof, first-class postage prepaid, in the United States mail, hand
delivery or facsimile transmission, in each case, addressed, (i) in the case of
a Preferred Securityholder, to such Preferred Securityholder as such
Securityholder's name and address appear on the Securities Register and (ii) in
the case of the Common Securityholder or the Depositor, to Georgia Power
Company, 241 Ralph McGill Boulevard, N.E., Atlanta, Georgia 30308, Attention:
Corporate Secretary, Facsimile No. (404) 506-2945, with a copy to Southern
Company Services, Inc., 270 Peachtree Street, N.W., Suite 2000, Atlanta, Georgia
30303, Attention: Corporate Finance Department, Facsimile No. (404) 506-0674 or
to such other address as the Common Securityholder or the Depositor may give
notice of to the Property Trustee and the Delaware Trustee. Such notice, demand
or other communication to or upon a Securityholder shall be deemed to have been
sufficiently given or made, for all purposes, upon hand delivery, mailing or
transmission.

                  Any notice, demand or other communication which by any
provision of this Trust Agreement is required or permitted to be given or served
to or upon the Trust or the Trustees shall be given in writing addressed as
follows: (i) with respect to the Property Trustee and the Delaware Trustee,
JPMorgan Chase Bank, 450 West 33rd Street, New York, New York, 10001, Attention:
Institutional Trust Services; Chase Manhattan Bank USA, National Association,
c/o JPMorgan Chase Bank, 500 Stanton Christiana Road, Building 4 (3rd Floor)
Newark, Delaware 19713, Attention: Institutional Trust Services, as the case may
be, or to such other address as the Property Trustee or the Delaware Trustee may
give notice of to the Depositor; and (ii) with respect to the Administrative
Trustees, to them at the address above for notices to the Depositor, marked
Attention: Administrative Trustees of Georgia Power Capital Trust VI c/o
Corporate Secretary. Such notice, demand or other communication to or upon the
Trust or the Trustees shall be deemed to have been sufficiently given or made
only upon actual receipt of the writing by the applicable Trustee.

                  Any notice, demand or other communication which by any
provision of this Trust Agreement is required or permitted to be served upon the
Calculation Agent or the Remarketing Agreement shall be given in accordance with
the Calculation Agent Agreement or the Remarketing Agreement, respectively.

                  Section 11.09.    Agreement Not to Petition

                  Each of the Trustees and the Depositor agrees for the benefit
of the Securityholders that, until at least one year and one day after the Trust
has been terminated in accordance with Article IX, it shall not file, or join in
the filing of, a petition against the Trust under any bankruptcy,
reorganization, arrangement, insolvency, liquidation or other similar law
(including, without limitation, the United States Bankruptcy Code)
(collectively, "Bankruptcy Laws") or otherwise join in the commencement of any
proceeding against the Trust under any Bankruptcy Law. In the event the
Depositor takes action in violation of this Section 11.09, the Property Trustee
agrees, for the benefit of Securityholders, that it shall file an answer with
the bankruptcy court or otherwise properly contest the filing of such petition
by the Depositor against the Trust or the commencement of such action and raise
the defense that the Depositor has agreed in writing not to take such action and
should be stopped and precluded therefrom and such other defenses, if any, as
counsel for the Trustees or the Trust may assert. The provisions of this Section
11.09 shall survive the termination of this Trust Agreement.

                  Section 11.10.    Conflict with Trust Indenture Act

                  (a) This Trust Agreement is subject to the provisions of the
Trust Indenture Act that are required to be part of this Trustee Agreement and
shall, to the extent applicable, be governed by such provisions.

                  (b) The Property Trustee shall be the only Trustee which is a
Trustee for the purposes of the Trust Indenture Act.

                  (c) If any provision hereof limits, qualifies or conflicts
with another provision hereof which is required to be included in this Trust
Agreement by any of the provisions of the Trust Indenture Act, such required
provision shall control.

                  (d) The application of the Trust Indenture Act to this Trust
Agreement shall not affect the nature of the Trust Securities as equity
securities representing undivided beneficial interests in the assets of the
Trust.

THE RECEIPT AND ACCEPTANCE OF A TRUST SECURITY OR ANY INTEREST THEREIN BY OR ON
BEHALF OF A SECURITYHOLDER OR ANY BENEFICIAL OWNER, WITHOUT ANY SIGNATURE OR
FURTHER MANIFESTATION OF ASSENT, SHALL CONSTITUTE THE UNCONDITIONAL ACCEPTANCE
BY THE SECURITYHOLDER AND ALL OTHERS HAVING A BENEFICIAL INTEREST IN SUCH TRUST
SECURITY OF ALL THE TERMS AND PROVISIONS OF THIS TRUST AGREEMENT AND AGREEMENT
TO THE SUBORDINATION PROVISIONS AND OTHER TERMS OF THE GUARANTEE AND THE
SUBORDINATED INDENTURE AND THE AGREEMENT OF THE TRUST, SUCH SECURITYHOLDER AND
SUCH OTHERS THAT THOSE TERMS AND PROVISIONS SHALL BE BINDING, OPERATIVE AND
EFFECTIVE AS BETWEEN THE TRUST AND SUCH SECURITYHOLDER AND SUCH OTHERS.

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed this Trust
Agreement or have caused this Trust Agreement to be executed on their behalf,
all as of the day and year first above written.

                GEORGIA POWER COMPANY,
                   as Depositor

                By:
                     ---------------------------------------------------------
                         Allen L. Leverett
                         Executive Vice President,  Treasurer and  Chief
                         Financial Officer

                JPMORGAN CHASE BANK,
                   as Property Trustee

                By:
                     ---------------------------------------------------------
                         Carol Ng
                         Vice President

                CHASE MANHATTAN BANK USA,
                NATIONAL ASSOCIATION,
                   as Delaware Trustee

                By:
                     ---------------------------------------------------------
                         John J. Cashin
                         Vice President

                           Janice G. Wolfe,
                          as Administrative Trustee

                           Wayne Boston,
                       as Administrative Trustee

<PAGE>

                                    EXHIBIT A

         [Unless this certificate is presented by an authorized representative
of The Depository Trust Company, a New York corporation ("DTC"), to Georgia
Power Capital Trust VI or its agent for registration of transfer, exchange or
payment, and any certificate issued is registered in the name of Cede & Co. or
in such other name as is requested by an authorized representative of DTC (and
any payment made to Cede & Co. or to such other entity as is requested by an
authorized representative of DTC), any transfer, pledge or other use hereof for
value or otherwise by or to any person is wrongful inasmuch as the registered
owner thereof, Cede & Co., has an interest herein.]*

Certificate Number                          Number of Preferred Securities

      P-_                                       CUSIP NO. 37333H AA 0

                   Certificate Evidencing Preferred Securities
                                       of
                         Georgia Power Capital Trust VI

                       Flexible Trust Preferred Securities
                      (Five Year Initial Fixed Rate Period)
               (Liquidation Amount $1,000 per Preferred Security)

                  Georgia Power Capital Trust VI, a statutory trust created
under the laws of the State of Delaware (the "Trust"), hereby certifies that
[Cede & Co.]* (the "Holder") is the registered owner of _____ (_______)
preferred securities of the Trust representing undivided beneficial interests in
the assets of the Trust and designated the Georgia Power Capital Trust VI
Flexible Trust Preferred Securities (Five Year Initial Fixed Rate Period)
(Liquidation Amount $1,000 per Preferred Security) (the "Preferred Securities").
The Preferred Securities are transferable on the books and records of the Trust,
in person or by a duly authorized attorney, upon surrender of this certificate
duly endorsed and in proper form for transfer as provided in Section 5.04 of the
Trust Agreement (as defined below). The designations, rights, privileges,
restrictions, preferences and other terms and provisions of the Preferred
Securities are set forth in, and this certificate and the Preferred Securities
represented hereby are issued and shall in all respects be subject to the terms
and provisions of, the Amended and Restated Trust Agreement of the Trust, dated
as of November 1, 2002, as the same may be amended from time to time (the "Trust
Agreement"), including the designation of the terms of Preferred Securities as
set forth therein. The holder of this certificate is entitled to the benefits of
a guarantee by Georgia Power Company, a Georgia corporation (the "Company"),
pursuant to a Guarantee Agreement between the Company and JPMorgan Chase Bank,
as guarantee trustee, dated as of November 1, 2002, as the same may be amended
from time to time (the "Guarantee"), to the extent provided therein. The Trust
will furnish a copy of the Trust Agreement and the Guarantee to the holder of
this certificate without charge upon written request to the Trust at its
principal place of business or registered office.

                  Upon receipt of this certificate, the holder of this
certificate is bound by the Trust Agreement and is entitled to the benefits
thereunder.

*Insert in Book-Entry Preferred Securities Certificates only

<PAGE>

IN WITNESS  WHEREOF,  the  Administrative  Trustees of the Trust have
executed this  certificate  this ____ day of
-------, ----.

                                 GEORGIA POWER CAPITAL TRUST VI

                                 By:
                                      --------------------------------
                                        Janice G. Wolfe,
                                        as Administrative Trustee

                                 By:
                                      --------------------------------
                                        Wayne Boston,
                                        as Administrative Trustee

                          CERTIFICATE OF AUTHENTICATION

                  This is one of the Preferred Securities referred to in the
within-mentioned Trust Agreement.

                                                     as Administrative Trustee

<PAGE>

                                                ASSIGNMENT

FOR VALUE RECEIVED, the undersigned assigns and transfers this Preferred
Security to:

(Insert assignee's social security or tax identification number)

(Insert address and zip code of assignee)
and irrevocably appoints

agent to  transfer  this  Preferred  Securities  Certificate  on the books of
the Trust.  The agent may  substitute another to act for him or her.

Date:
                  -----------------------------------------------------

Signature:
                  -----------------------------------------------------

(Sign exactly as your name appears on the other side of this Preferred
Securities Certificate)

<PAGE>

                                       B-4

                                    EXHIBIT B

                    AGREEMENT AS TO EXPENSES AND LIABILITIES

         THIS AGREEMENT AS TO EXPENSES AND LIABILITIES (this "Agreement") is
made as of November 1, 2002, between Georgia Power Company, a Georgia
corporation (the "Company"), and Georgia Power Capital Trust VI, a Delaware
statutory trust (the "Trust").

         WHEREAS, the Trust intends to issue its Common Securities (the "Common
Securities") to and receive Junior Subordinated Notes from the Company and to
issue and sell Georgia Power Capital Trust VI Flexible Trust Preferred
Securities (the "Preferred Securities") with such powers, preferences and
special rights and restrictions as are set forth in the Amended and Restated
Trust Agreement of the Trust dated as of November 1, 2002 as the same may be
amended from time to time (the "Trust Agreement"); and

         WHEREAS, the Company is the issuer of the Junior Subordinated Notes.

         NOW, THEREFORE, in consideration of the purchase by each holder of the
Preferred Securities, which purchase the Company hereby agrees shall benefit the
Company and which purchase the Company acknowledges will be made in reliance
upon the execution and delivery of this Agreement, the Company and the Trust
hereby agree as follows:

                                    ARTICLE I

         Section 1.01. Guarantee by the Company. Subject to the terms and
conditions hereof, the Company hereby irrevocably and unconditionally guarantees
to each person or entity to whom the Trust is now or hereafter becomes indebted
or liable (the "Beneficiaries") the full payment, when and as due, of any and
all Obligations (as hereinafter defined) to such Beneficiaries. As used herein,
"Obligations" means any indebtedness, expenses or liabilities of the Trust,
other than obligations of the Trust to pay to holders of any Preferred
Securities or other similar interests in the Trust the amounts due such holders
pursuant to the terms of the Preferred Securities or such other similar
interests, as the case may be. This Agreement is intended to be for the benefit
of, and to be enforceable by, all such Beneficiaries, whether or not such
Beneficiaries have received notice hereof.

         Section 1.02. Term of Agreement. This Agreement shall terminate and be
of no further force and effect upon the date on which there are no Beneficiaries
remaining; provided, however, that this Agreement shall continue to be effective
or shall be reinstated, as the case may be, if at any time any holder of
Preferred Securities or any Beneficiary must restore payment of any sums paid
under the Preferred Securities, under any Obligation, under the Guarantee
Agreement dated the date hereof by the Company and JPMorgan Chase Bank, as
guarantee trustee, or under this Agreement for any reason whatsoever. This
Agreement is continuing, irrevocable, unconditional and absolute.

         Section 1.03. Waiver of Notice. The Company hereby waives notice of
acceptance of this Agreement and of any Obligation to which it applies or may
apply, and the Company hereby waives presentment, demand for payment, protest,
notice of nonpayment, notice of dishonor, notice of redemption and all other
notices and demands.

         Section 1.04. No Impairment. The obligations, covenants, agreements and
duties of the Company under this Agreement shall in no way be affected or
impaired by reason of the happening from time to time of any of the following:

                  (a) the extension of time for the payment by the Trust of all
         or any portion of the Obligations or for the performance of any other
         obligation under, arising out of, or in connection with, the
         Obligations;

                  (b) any failure, omission, delay or lack of diligence on the
         part of the Beneficiaries to enforce, assert or exercise any right,
         privilege, power or remedy conferred on the Beneficiaries with respect
         to the Obligations or any action on the part of the Trust granting
         indulgence or extension of any kind; or

                  (c) the voluntary or involuntary liquidation, dissolution,
         sale of any collateral, receivership, insolvency, bankruptcy,
         assignment for the benefit of creditors, reorganization, arrangement,
         composition or readjustment of debt of, or other similar proceedings
         affecting, the Trust or any of the assets of the Trust.

There shall be no obligation of the Beneficiaries to give notice to, or obtain
the consent of, the Company with respect to the happening of any of the
foregoing.

         Section 1.05. Enforcement. A Beneficiary may enforce this Agreement
directly against the Company and the Company waives any right or remedy to
require that any action be brought against the Trust or any other person or
entity before proceeding against the Company.

                                   ARTICLE II

         Section 2.01.     Binding  Effect.  All guarantees and agreements
contained in this Agreement  shall bind the successors, assigns, receivers,
trustees and representatives of the Company and shall inure to the benefit of
the Beneficiaries.

         Section 2.02.     Amendment.  So long as there remains any Beneficiary
or any  Preferred  Securities of any series are outstanding, this Agreement
shall not be  modified  or amended  n any manner adverse to such
Beneficiary or to the holders of the Preferred Securities.

         Section 2.03. Notices. Any notice, request or other communication
required or permitted to be given hereunder shall be given in writing by
delivering the same against receipt therefor by facsimile transmission
(confirmed by mail), telex or by registered or certified mail, addressed as
follows (and if so given, shall be deemed given when mailed or upon receipt of
an answer-back, if sent by telex), to-wit:

                  Georgia Power Capital Trust VI
                  c/o JPMorgan Chase Bank
                  450 West 33rd Street
                  New York, New York 10001
                  Facsimile No.: (212) 946-8159
                  Attention:  Institutional Trust Services

                  Georgia Power Company
                  241 Ralph McGill Boulevard, N.E.
                  Atlanta, Georgia  30308-3374
                  Facsimile No.: (404) 506-2945
                  Attention:   Corporate Secretary

         Section 2.04. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND
INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF GEORGIA.

<PAGE>

         THIS AGREEMENT is executed as of the date and year first above written.

                                 GEORGIA POWER COMPANY

                                 By:
                                          ------------------------------
                                          Janice G. Wolfe
                                          Corporate Secretary

                                 GEORGIA POWER CAPITAL TRUST VI

                                 By:
                                          ------------------------------
                                          Wayne Boston,
                                          as Administrative Trustee

<PAGE>

                                    EXHIBIT C

         THIS CERTIFICATE IS NOT TRANSFERABLE EXCEPT AS PROVIDED IN THE TRUST
AGREEMENT REFERRED TO HEREIN

Certificate Number C-1             Number of Common Securities

                    Certificate Evidencing Common Securities
                                       of
                         Georgia Power Capital Trust VI

                                Common Securities
                 (Liquidation Amount $1,000 per Common Security)

                  Georgia Power Capital Trust VI, a statutory trust created
under the laws of the State of Delaware (the "Trust"), hereby certifies that
Georgia Power Company (the "Holder") is the registered owner of _____________
(_______) common securities of the Trust representing undivided beneficial
interests in the assets of the Trust and designated the Common Securities
(Liquidation Amount $1,000 per Common Security) (the "Common Securities"). In
accordance with Section 5.10 of the Trust Agreement (as defined below) the
Common Securities are not transferable, except by operation of law or as
permitted by the Trust Agreement referred to herein, and any attempted transfer
hereof shall be void. The designations, rights, privileges, restrictions,
preferences and other terms and provisions of the Common Securities are set
forth in, and this certificate and the Common Securities represented hereby are
issued and shall in all respects be subject to the terms and provisions of, the
Amended and Restated Trust Agreement of the Trust dated as of November 1, 2002,
as the same may be amended from time to time (the "Trust Agreement"), including
the designation of the terms of the Common Securities as set forth therein. The
Trust will furnish a copy of the Trust Agreement to the Holder without charge
upon written request to the Trust at its principal place of business or
registered office.

                  Upon receipt of this certificate, the Holder is bound by the
Trust Agreement and is entitled to the benefits thereunder.

<PAGE>

                  IN WITNESS WHEREOF, the Administrative Trustees of the Trust
have executed this certificate this ____ day of ______, ____.

                               Georgia Power Capital Trust VI

                               By:
                                    ---------------------------------------
                                     Janice G. Wolfe,
                                     as Administrative Trustee

                               By:
                                    ---------------------------------------
                                     Wayne Boston,
                                     as Administrative Trustee

                          CERTIFICATE OF AUTHENTICATION

This is one of the Common Securities referred to in the within-mentioned Trust
Agreement.

                                                     as Administrative Trustee

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