Kansas City Power & Light announces redemption of trust originated preferred securities

KANSAS CITY, Mo., June 21, 2004 (BUSINESS WIRE) — Kansas City Power & Light announced that on July 21, 2004, the company will redeem a series of preferred securities issued by a subsidiary financing trust.

The redemption covers the entire issue of 8.3% Trust Originated Preferred Securities issued by KCPL Financing I with a face value of $150 million. As the preferred securities are being redeemed at par, security holders will receive $25 per preferred security, plus accrued and unpaid distributions to the redemption date. Distributions to be paid on June 30, 2004, to record holders as of June 29, 2004, will be paid in the normal manner in the amount of $0.51875 per security.

Call notices for this issue are being mailed today by JPMorgan Chase Bank, as trustee. The preferred securities trade on the New York Stock Exchange under the ticker KLTPrT, CUSIP No. 482432200.

Great Plains Energy Incorporated, headquartered in Kansas City, Missouri, is the holding company for Kansas City Power & Light Company, a leading regulated provider of electricity in the Midwest; and Strategic Energy LLC, an energy management company providing load aggregation and power supply coordination. The company’s Web site is www.greatplainsenergy.com.

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