THE EMPIRE DISTRICT ELECTRIC COMPANY
602 JOPLIN STREET
JOPLIN, MISSOURI 64802
417-625-5100 FAX: 417-625-5169
www.empiredistrict.com
PRESS RELEASE
For Immediate Release
Contact:
MEDIA COMMUNICATIONS: INVESTOR RELATIONS:
Jay McBee Janet S. Watson
Director of Corporate Communications Secretary - Treasurer
417 625-5100, Ext. 2369 417 625-5100, Ext. 2223
UtiliCorp Withdraws from Empire Merger
JOPLIN, MO, January 2, 2001 - (NYSE:EDE) The Empire District Electric
Company received notice today from UtiliCorp United Inc. that
UtiliCorp has terminated the Agreement and Plan of Merger dated May
10, 1999 which would merge the two companies. UtiliCorp gave the lack
of receipt of all regulatory approvals as its basis for withdrawing
from the merger.
The merger agreement provided that either Empire or UtiliCorp could
terminate the merger agreement if all the regulatory approvals for the
merger had not been obtained by December 31, 2000.
In commenting on the withdrawal from the merger by UtiliCorp, Myron W.
McKinney, Empire's President and Chief Executive Officer, said, "Until
today Empire has moved forward fully anticipating closing the merger,
and although we are disappointed that UtiliCorp has chosen to
terminate the agreement, we will continue providing the quality
services that our customers expect and deserve while providing a fair
and reasonable return to our shareholders."
The Empire District Electric Company is an investor-owned utility
providing electric service to approximately 145,000 customers in
southwest Missouri, southeast Kansas, northeast Oklahoma and northwest
Arkansas. The Company also provides monitored security, energy
services, fiber optic service and decorative lighting as well as water
service in three incorporated communities in Missouri.
Certain matters discussed in this press release are "forward-looking
statements" intended to qualify for the safe harbor from liability
established by the Private Securities Litigation Reform Act of 1995.
Such statements address future plans, objectives, expectations, and
events or conditions concerning various matters. Actual results in
each case could differ materially from those currently anticipated in
such statements, by reason of the factors noted in our filings with
the SEC, including the most recent Form 10-K and Form 10-Q.
