Great Plains Energy & AQUILA File Procedural Schedule for Resuming MISSOURI Hearings and Extend Termination Date

KANSAS CITY, Mo. (Jan. 31, 2008) -- Great Plains Energy, Kansas City Power & Light Company and Aquila have filed a proposed procedural schedule with the Missouri Public Service Commission suggesting dates for resuming regulatory hearings on the proposed acquisition of Aquila by Great Plains Energy. Given the current status of the regulatory approval process, Great Plains, Black Hills Corporation and Aquila have mutually provided notice to each other initially extending the termination dates for the acquisition and asset sale transactions to May 1, 2008, from February 6, 2008. The transactions could close earlier than that date, depending on when the required regulatory consents are received and the other conditions to closing are satisfied.

“We requested in December a postponement of the regulatory hearings in Missouri while we worked on a revised proposal that would address the concerns raised by parties,” Michael Chesser, Chairman and CEO, Great Plains Energy, said. “We are continuing discussions with those parties about the revised proposal, but have filed a proposed procedural schedule in case we don’t reach an agreement.”

The companies proposed that hearings be resumed with the Missouri Public Service Commission beginning on March 17. Hearings on the companies’ related application with the Kansas Corporation Commission are expected to start on February 12. Approvals of the transactions by the Missouri, Kansas and Colorado regulatory commissions are still necessary for the transactions to be completed.

“We remain firmly committed to this transaction,” Chesser said. “It will create a strong, regional utility that will provide savings to customers, growth for shareholders, increased reliability and environmental upgrades, and an improved total living environment for the community.”