Great Plains Energy Incorporated Declares Dividends

KANSAS CITY, Mo.--(Business Wire)--
Great Plains Energy Incorporated (NYSE: GXP) today announced that
its Board of Directors approved a quarterly dividend of $0.415 per
share on its common stock. This action continues Great Plains Energy's
indicated annual dividend level of $1.66 per share. The common
dividend will be payable September 19, 2008 to shareholders of record
as of August 28, 2008. The shares will begin to trade ex-dividend on
August 26, 2008. The Board of Directors also declared regular
dividends on the preferred stock, payable December 1, 2008 to
shareholders of record as of November 6, 2008. The shares will begin
to trade ex-dividend on November 4, 2008.

Headquartered in Kansas City, Mo., Great Plains Energy
Incorporated (NYSE: GXP) is the holding company of Kansas City Power &
Light Company and Aquila, Inc. (doing business as KCP&L Greater
Missouri Operations Company), two of the leading regulated providers
of electricity in the Midwest. Kansas City Power & Light and Aquila
use KCP&L as a brand name. The Company's web site is
www.greatplainsenergy.com.

Information Concerning Forward-Looking Statements

Statements made in this release that are not based on historical
facts are forward-looking, may involve risks and uncertainties, and
are intended to be as of the date when made. Forward-looking
statements include, but are not limited to, the outcome of regulatory
proceedings, cost estimates of the Comprehensive Energy Plan and other
matters affecting future operations. In connection with the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995, the registrants are providing a number of important factors that
could cause actual results to differ materially from the provided
forward-looking information. These important factors include: future
economic conditions in the regional, national and international
markets, including but not limited to regional and national wholesale
electricity markets; market perception of the energy industry, Great
Plains Energy, KCP&L and Aquila; changes in business strategy,
operations or development plans; effects of current or proposed state
and federal legislative and regulatory actions or developments,
including, but not limited to, deregulation, re-regulation and
restructuring of the electric utility industry; decisions of
regulators regarding rates KCP&L and Aquila can charge for
electricity; adverse changes in applicable laws, regulations, rules,
principles or practices governing tax, accounting and environmental
matters including, but not limited to, air and water quality;
financial market conditions and performance including, but not limited
to, changes in interest rates and credit spreads and in availability
and cost of capital and the effects on pension plan assets and costs;
credit ratings; inflation rates; effectiveness of risk management
policies and procedures and the ability of counterparties to satisfy
their contractual commitments; impact of terrorist acts; increased
competition including, but not limited to, retail choice in the
electric utility industry and the entry of new competitors; ability to
carry out marketing and sales plans; weather conditions including
weather-related damage; cost, availability, quality and deliverability
of fuel; ability to achieve generation planning goals and the
occurrence and duration of planned and unplanned generation outages;
delays in the anticipated in-service dates and cost increases of
additional generating capacity and environmental projects; nuclear
operations; workforce risks including retirement compensation and
benefits costs; performance of projects undertaken by non-regulated
businesses and the success of efforts to invest in and develop new
opportunities; the ability to successfully complete merger,
acquisition or divestiture plans (including the integration of Aquila
and KCP&L operations and the timing and amount of resulting synergies
and savings), and other risks and uncertainties. Other risk factors
are detailed from time to time in Great Plains Energy's and KCP&L's
most recent quarterly reports on Form 10-Q or annual reports on Form
10-K filed with the Securities and Exchange Commission. This list of
factors is not all-inclusive because it is not possible to predict all
factors.

Great Plains Energy Incorporated
Media:
Katie McDonald, 816-556-2365
or
Investor:
Ellen Fairchild, 816-556-2083

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