UtiliCorp names Dan Streek to be interim CFO

Former CFO Peter Lowe to lead Australasian businesses

KANSAS CITY, Mo., Aug. 8, 2001 – UtiliCorp United announced today that Dan Streek will become the company’s interim chief financial officer, effective August 20, 2001.

In addition to his UtiliCorp role, Streek will continue to serve as chief financial officer of Aquila, Inc., UtiliCorp’s 80 percent-owned subsidiary. He will succeed UtiliCorp CFO Peter Lowe, who is returning to Australia after completing a two-year assignment in the U.S. Lowe will become UtiliCorp’s managing director, Australasia.

“Dan Streek brings more than a decade of strong financial leadership experience to his new role as chief financial officer for UtiliCorp and his continued role as chief financial officer at Aquila,” said Robert K. Green, president and chief operating officer of UtiliCorp and chairman of Aquila. “His depth of knowledge of both companies coupled with his financial expertise will be a significant asset to our executive team as we continue to pursue and implement their business strategies.”

Streek joined UtiliCorp in 1992. During the last nine years he rose through increasingly responsible accounting positions within UtiliCorp and Aquila, including his current role as Aquila’s chief financial officer and treasurer, the accounting, treasury and financial management activities across its U.S., Canadian and European operations. Prior to serving Aquila, Streek was vice president and assistant controller for UtiliCorp, financial reporting, financial planning and international accounting activities.

He began his career with Arthur Andersen LLP, where he was an audit manager serving energy industry clients in Nevada. He is a Certified Public Accountant and a member of Financial Executives Institute. He holds a bachelors degree in business administration from the University of Nevada, Las Vegas and an M.B.A. from Rockhurst University in Kansas City, Missouri.

As managing director, Australasia, a newly created position, Lowe will be based in Melbourne and will report to Green.

“Peter will represent UtiliCorp’s shareholder interest in the Australasian region,” Green said. “He will be working with the chief executives and boards of directors of the UtiliCorp affiliated companies in Australia and New Zealand to further maximize business synergies to the benefit of all shareholders. This is a critical next step in further developing our interests in the Southern Hemisphere.”

UtiliCorp Chairman and Chief Executive Officer Richard C. Green, Jr. commented: “As a result of Peter’s leadership of our finance and accounting activities, UtiliCorp enjoys a far stronger balance sheet today compared to two years ago. He has been a key member of our management team and we look forward to his continued leadership when he returns to Australia.”

Lowe came to UtiliCorp’s Kansas City headquarters in June 1999 as an expatriate from United Energy. He will return to Australia as a UtiliCorp employee.

In Australia, UtiliCorp owns 34 percent of United Energy in Melbourne and UtiliCorp and United Energy jointly own 45 percent of AlintaGas in Perth. UtiliCorp manages the operations of both companies. In New Zealand, UtiliCorp owns approximately 55 percent of UnitedNetworks, based in Auckland. The three companies provide energy for a total of about 2.2 million consumer accounts. Robert K. Green serves as chairman of the boards of United Energy and UnitedNetworks.

Based in Kansas City, UtiliCorp United is an international electric and gas company with energy customers and operations across the U.S. and in Canada, the United Kingdom, New Zealand, and Australia. Its 80 percent-owned Aquila, Inc. subsidiary is one of the largest wholesalers of electricity and natural gas in North America. Aquila also provides wholesale energy services in the U.K. and has a presence in Scandinavia, Germany and Bermuda. Additional information is available at www.utilicorp.com and www.aquila.com.

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