Aquila To Webcast its Annual Meeting and First Quarter Conference Call with Financial Analysts.

Business Editors

KANSAS CITY, Mo.--(BUSINESS WIRE)--May 3, 2004

Aquila, Inc. (NYSE: ILA) will provide a live webcast of its annual shareholder meeting scheduled for Wednesday, May 5, at 3 p.m. Eastern Time. The company will also provide a live webcast of its conference call with the financial community to discuss 2004 first quarter results on Thursday, May 6, at 9:30 a.m. Eastern Time.

Aquila's earnings and quarterly report on Form 10-Q will be made public at the start of the annual meeting. Richard C. Green, chairman and chief executive officer, will address shareholders at the annual meeting and provide an update on progress with Aquila's repositioning plan. Results of the election of directors will also be announced.

Green, Keith Stamm, chief operating officer, and Rick Dobson, chief financial officer, will conduct the financial conference call the following morning. They will discuss Aquila's 2004 first quarter results and review the company's operations and restructuring, including recent utility rate cases and Aquila's progress toward completing the sale of non-core assets.

To access the live webcast of either presentation, go to Aquila's website at www.aquila.com and click "Presentations & Webcasts" in the "Investor Information" section. Allow at least five minutes to register and access the presentation.

Replays of both the annual meeting and financial conference call will be available on the company's website beginning approximately two hours after the presentation. Click "Presentations & Webcasts" in the "Investor Information" section.

In addition, replay of the first quarter results call will be available by telephone through May 13 at 800-405-2236 in the United States, and at 303-590-3000 for international callers. Callers need to enter the access code 570524 when prompted.

Based in Kansas City, Mo., Aquila operates electricity and natural gas distribution networks serving customers in seven U.S. states and two Canadian provinces. The company also owns and operates power generation assets. At March 31, 2004, Aquila had total assets of $7.3 billion. More information is available at www.aquila.com.