On July 23, 2003, Great Plains Energy Incorporated issued a press release announcing 2003 second quarter earnings information and affirming 2003 earnings guidance. A copy of the press release is attached to this report on Form 8-K as Exhibit 99.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date:  July 24, 2003

Exhibit 99

Kansas City, MO, July 23, 2003 -- Great Plains Energy (NYSE: GXP) today announced second quarter 2003 earnings of $50.5 million, or $0.73 per share compared to second quarter 2002 earnings of $35.5 million or $0.57 per share. During the second quarter of 2003, ongoing earnings, as detailed on attachment B, were $32.1 million, or $0.47 per share compared to $35.7 million, or $0.57 per share for 2002. For the six months ended June 30, 2003, the Company reported earnings of $64.6 million, or $0.93 per share compared to $29.2 million, or $0.47 per share from the same period in 2002. Year to date 2003 ongoing earnings, as detailed on attachment C, were $52.9 million, or $0.77 per share compared to 2002 ongoing earnings of $43.3 million, or $0.70 per share.

The differences in ongoing earnings for both periods when compared to 2002 were driven primarily by cooler June 2003 weather, higher pension costs, and increased plant maintenance expenses at Kansas City Power & Light (KCP&L). These factors were partially offset in the quarter and more than offset in the year to date comparable periods by the effects of significantly higher wholesale power revenue at KCP&L and continued growth at Strategic Energy. The November 2002 equity offering diluted the quarter and year to date 2003 earnings per share by $0.08 and $0.11, respectively.

The following unusual items impacted reported earnings for the 2003 periods. The effects of the June confirmation of the restructuring plan of DTI Holdings, Inc., Digital Teleport, Inc., and Digital Teleport of Virginia, Inc. and sale of substantially all of the assets of Digital Teleport, Inc. to a subsidiary of CenturyTel, Inc. contributed earnings of $25.9 million or $0.37 per share during the quarter and year to date 2003. The 2003 periods were also impacted by the $7.1 million, or $0.10 per share loss on the June 2003 disposition of the Company's interest in the residential services provider, R.S. Andrews Enterprises, Inc. The Company also experienced continuing losses through the date of disposition of $0.4 million and $1.6 million during the quarter and year to date, respectively. The first quarter asset impairment at KLT Gas impacted year to date 2003 earnings by $0.08 per share. The year to date 2002 reported results were impacted $0.16 per share from the January 2002 ice stor m and $0.07 per share by the effects of R. S. Andrews Enterprises, Inc.

The Company affirms 2003 ongoing earnings guidance to be in the range of $1.90 to $2.00 per share, excluding unusual items as detailed on attachment G.

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Commenting on the results, Chairman Bernie Beaudoin said, "The continued strong performance at Strategic Energy and this quarter's wholesale power sales partially offset the impact of a cool June. With these results, we remain confident in our full year ongoing earnings guidance." He continued, " Eliminating businesses that no longer complement our strategic vision will allow us to focus more on creating value for our shareholders."

KCP&L, an integrated regulated electric utility, reported earnings for the second quarter of $22.3 million, or $0.32 per share compared to 2002 second quarter earnings of $27.3 million or $0.44 per share. Second quarter revenues were $247.3 million, compared with $247.2 million in the same quarter last year.

Retail revenues for second quarter 2003 were $211.4 million, off 5% from the second quarter of 2002 due to unfavorable June 2003 weather and the effect of the January 2003 Kansas rate reduction. Wholesale revenues increased $11.3 million or 53% primarily due to a 35% increase in wholesale MWh sales at higher wholesale prices. KCP&L's second quarter 2003 earnings were also affected by increased pension expense and increased plant maintenance expenses.

KCP&L's ongoing earnings excluding unusual items were $35.7 million, or $0.52 per share for the six months ended June 30, 2003, up from $30.1 million, or $0.49 per share in the same period of 2002. Compared to the same period last year, wholesale revenues increased $40.1 million or 104% reflecting a 53% increase in wholesale MWh sales at higher wholesale prices. Also impacting earnings were increased pension expense and increased plant maintenance expenses.

The November 2002 equity offering diluted the quarter and year to date 2003 earnings per share by $0.04 and $0.05, respectively.

Strategic Energy, a power supply coordination services provider, continued its solid performance. Earnings for the second quarter were $9.6 million, or $0.14 per share up 17% versus $8.2 million, or $0.13 per share in the same quarter last year. Revenues were up 27% to $255.2 million. These results were driven by a 31% increase in MWh's delivered to 3.8 million from 2.9 million in the same period last year, and a 6% increase in the Company's ownership in Strategic Energy. During the quarter, Strategic Energy announced expansion into the New Jersey market and anticipates beginning power delivery later in the year.

Strategic Energy's year to date 2003 earnings were $19.4 million, or $0.28 per share, up 28% compared to $15.1 million, or $0.24 per share in 2002. Revenues were up 39% to $484.4 million compared to $347.6 million in the same period last year. The primary driver was a 48% increase in MWh's delivered versus last year's period and customer growth of 19%. Offsetting these gains was a decline in gross margin per MWh primarily due to higher margin contracts expiring.

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The November 2002 equity offering diluted the quarter and year to date 2003 earnings per share by $0.01 and $0.03, respectively.

Great Plains Energy provides in its quarterly earnings releases ongoing earnings in addition to earnings calculated in accordance with generally accepted accounting principles (GAAP). Great Plains Energy also provides its earnings guidance in terms of ongoing earnings. Ongoing earnings is a non-GAAP financial measure that differs from GAAP earnings because it excludes the effect of unusual items. Ongoing earnings for historical periods are reconciled to GAAP earnings for the same periods in attachments B and C. Great Plains Energy is unable to reconcile its 2003 ongoing earnings guidance to GAAP earnings per share because we do not predict the future impact of unusual items.

We believe ongoing earnings provides to investors a useful indicator of our results that is comparable among periods because it excludes the effects of unusual items which may occur on an irregular basis. Investors should note that this non-GAAP measure involves judgments by management including whether an item is classified as an unusual item. We use ongoing earnings internally to measure performance against budget and in reports for management.

Great Plains Energy (NYSE: GXP), headquartered in Kansas City, MO, is the holding company for three business units: Kansas City Power & Light Company, a leading regulated provider of electricity in the Midwest; Strategic Energy LLC, an energy management company providing electric load aggregation and power supply coordination; KLT Gas Inc., a subsidiary specializing in coal bed methane exploration and development. The Company's web site: www.greatplainsenergy.com.

Great Plains Energy will broadcast a discussion of these results via the Internet on Thursday, July 24, 2003 at 9:00 AM Eastern / 8:00 AM Central. The presentation can be accessed through www.greatplainsenergy.com. A replay of the webcast will be available on the web site until the close of business on August 6, 2003.

CERTAIN FORWARD-LOOKING INFORMATION -- 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. 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; market perception of the energy industry and the Company; changes in business strategy, operations or development plans; state and federal legislative and regulatory actions or developments, including deregulation, re-regulation and restructuring of the electric utility industry and constraints placed on the Company's actions by the Public Utility Holding Company Act of 1935; adverse changes in applicable laws, regulations, rules, principles or practices governing tax, accounting and environmental matters including, but not limited to, air quality; financial market conditions including, but not limited to, changes in interest rates and in availability and cost of capital; ability to maintain current 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 and availability of fuel; ability to achieve generation planning goals and the occurrence of unplanned generation outages; delays in the anticipated in-service dates of additional generating capacity; nuclear operations; ability to enter new markets successfully and ca pitalize on growth opportunities in non-regulated businesses; performance of projects undertaken by our non-regulated businesses and the success of efforts to invest in and develop new opportunities; and other risks and uncertainties. This list of factors is not all-inclusive because it is not possible to predict all factors.

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