For immediate release
December 28, 2000
UTILICORP UNITED AND ST. JOSEPH LIGHT & POWER
SET CONVERSION RATIO, CLOSING DATE OF DECEMBER 29, 2000
KANSAS CITY, MO, December 28, 2000 -- UtiliCorp
United (NYSE:UCU) and St. Joseph Light & Power Company
(NYSE:SAJ) today said that Light & Power shareholders will
receive .7933 shares of UtiliCorp common stock for each
share of Light & Power stock held as of December 29, 2000.
The companies also announced that, absent action by
any regulatory authority prior to the closing that would
prevent the merger or impose material conditions on the
merger, they intend to close on the merger on December 29,
with the merger effective on December 31, 2000.
Light & Power shareholders in the near future will
receive a letter containing instructions regarding the
procedure to use in surrendering their Light & Power
certificates.
###
The phrase "intend to" identifies a forward looking
statement as defined in the Private Securities Litigation
Reform Act of 1995. Important factors that could cause
actual results to differ materially from those contained
in such forward looking statement include a material
breach of the terms of the merger agreement or a material
adverse change in the business of either party.
Media Contacts:
UtiliCorp United
George Minter - 816-467-3772(office)
Media Relations - 816-467-3000
St. Joseph Light & Power Company
Jerry Musil - 816-387-6236 (office)
816-262-0374 (cellular)
Investor Contacts:
UtiliCorp United
Jerry Myers - 816-467-3552
St. Joseph Light & Power Company
Larry Stoll - 816-387-6202
Gary Myers - 816-387-6205
