Exhibit 99.1
WESTERN RESOURCES REPLACES TWO REVOLVING CREDIT FACILITIES
TOPEKA, Kansas, June 28, 2000 -- Western Resources (NYSE:WR) today
closed on a $600 million, multi-year term loan that replaces two revolving
credit facilities due to mature June 30. The new loan is secured by first
mortgage bonds and has a maturity date of March 17, 2003.
Western Resources (NYSE: WR) is a consumer services company with
interests in monitored services and energy. The company has total assets of
almost $8 billion, including security company holdings through ownership of
Protection One (NYSE: POI), which has more than 1.4 million security customers
in 48 states. Its utilities, KPL and KGE, provide electric service to
approximately 634,000 customers in Kansas. Through its ownership in ONEOK,
Inc. (NYSE: OKE), a Tulsa-based natural gas company, Western Resources has a
45 percent interest in the ninth largest natural gas distribution company in
the nation, serving more than 1.4 million customers.
Forward-Looking Statements: Certain matters discussed in this news
release are "forward-looking statements." The Private Securities Litigation
Reform Act of 1995 has established that these statements qualify for safe
harbors from liability. Forward-looking statements may include words like we
"believe," "anticipate," "expect" or words of similar meaning. Forward-looking
statements describe our future plans, objectives, expectations, or goals. Such
statements address future events and conditions concerning capital
expenditures, earnings, litigation, rate and other regulatory matters, the
outcome of Protection One accounting issues reviewed by the SEC staff as
disclosed in previous SEC filings, possible corporate restructurings, mergers,
acquisitions, dispositions, liquidity and capital resources, compliance with
debt covenants, interest and dividend rates, the impact of Protection One's
financial condition on our consolidated results, environmental matters,
changing weather, nuclear operations, ability to enter new markets
successfully and capitalize on growth opportunities in nonregulated
businesses, events in foreign markets in which investments have been made,
accounting matters, and the overall economy of our service area. Our actual
results may differ materially from those discussed here. See the company's and
Protection One's 1999 Annual Reports on Forms 10-K and 10-K/A, quarterly
reports on Form 10Q, and current reports on Form 8K for further discussion of
factors affecting the company's and Protection One's performance. Western
Resources disclaims any obligation to update any forward-looking statements as
a result of developments occurring after the date of this news release.
/CONTACT: Media: Kim Gronniger, [email protected], 785.575.1927, or fax:
785.575.6399. Or Investors: Jim Martin, [email protected], 785.575.6549, or
fax: 785.575.8160, or Carl Ricketts, [email protected], 785.575.8424, or
fax: 785.575.1774, both of Western Resources/
/Web site:http://www.wr.com
