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                SECURITIES AND EXCHANGE COMMISSION
                   Washington, D.C. 20549


                          FORM 11-K


         [X]   ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE
               SECURITIES EXCHANGE ACT OF 1934

               For the fiscal year ended December 31, 1998

                             OR

         [ ]   TRANSITION REPORT PURSUANT TO SECTION 15(d)
               OF THE SECURITIES EXCHANGE ACT OF 1934

               For the transition period from  ______  to ______

               Commission file number 1-707

               A.   Full title of the Plan:

                    Kansas City Power & Light Company
                    Cash or Deferred Arrangement
                    (Employee Savings Plus Plan)
                    (hereinafter referred to as "Plan")


               B.   Name of issuer of the securities held
                    pursuant to the Plan and the address
                    of its principal executive office:

                    Kansas City Power & Light Company
                    1201 Walnut
                    Kansas City, Missouri 64106-2124

Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan Financial Statements and Supplemental Schedules CONTENTS Report of Independent Auditors 1 Report of Independent Accountants 3 Financial Statements Statement of Net Assets Available for Benefits with Fund Information as of December 31, 1998 4 Statement of Net Assets Available for Plan Benefits with Fund Information as of December 31, 1997 5 Statement of Changes in Net Assets Available for Benefits with Fund Information for the year ended December 31, 1998 6 Statement of Changes in Net Assets Available for Plan Benefits with Fund Information for the year ended December 31, 1997 7 Statement of Changes in Net Assets Available for Plan Benefits with Fund Information for the year ended December 31, 1996 8 Notes to Financial Statements 9 Supplemental Schedules Schedule of Assets Held for Investment as of December 31, 1998 24 Schedule of Reportable Transactions for the year ended December 31, 1998 25 Signatures 26 Consent of Independent Auditors Exhibit 1 Consent of Independent Accountants Exhibit 2

Report of Independent Auditors The Administrative Committee Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan We have audited the accompanying statement of net assets available for benefits of the Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan (the Plan) as of December 31, 1998 and the related statement of changes in net assets available for benefits for the year then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits as of December 31, 1998 and the changes in net assets available for benefits for the year then ended in conformity with generally accepted accounting principles. Our audit was performed for the purpose of forming an opinion on the financial statements taken as a whole. The accompanying supplemental schedules listed in the table of contents are presented for purposes of additional analysis and are not a required part of the financial statements but are supplementary information required by the U.S. Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. These supplemental schedules are the responsi bility of the Plan's management. The fund information in the 1998 statement of net assets available for benefits and the 1998 statement of changes in net assets available for benefits is presented for purposes of additional analysis rather than to 1

present the net assets available for benefits and the changes in net assets available for benefits of each fund. The supplemental schedules and fund information have been subjected to the auditing procedures applied in our audit of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the financial statements taken as a whole. /s/Ernst & Young LLP June 11, 1999 2

REPORT OF PRICEWATERHOUSECOOPERS LLP, INDEPENDENT ACCOUNTANTS To the Administrative Committee, Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan We have audited the accompanying statements of net assets available for Plan benefits of the Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan as of December 31, 1997 and the related statements of changes in net assets available for Plan benefits for the years ended December 31, 1997 and December 31, 1996. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for Plan benefits as of December 31, 1997, and the changes in net assets available for Plan benefits for the years ended December 31, 1997 and December 31, 1996, in conformity with generally accepted accounting principles. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The fund information in the statement of net assets available for Plan benefits and the statement of changes in net assets available for Plan benefits is presented for purposes of additional analysis rather than to present the net assets available for Plan benefits and changes in net assets available for Plan benefits of each fund. The fund information has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. /s/PricewaterhouseCoopers LLC June 17,1998 3

Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan Statement of Net Assets Available for Benefits with Fund Information December 31, 1998 (NOTE: THE FOLLOWING TABULAR INFORMATION EXCEEDED 130 CHARACTER LIMITATION IN ITS ORIGINAL FORMAT. INFORMATION HAS BEEN SPLIT INTO TWO HALVES FOR THIS ELECTRONIC FILING.) (START OF LEFT HALF OF TABLE) Fidelity Investment Funds ------------------------------------------------------------------- KCPL Asset Stock MIP Puritan Magellan Manager OTC Overseas Fund Fund Fund Fund Fund Portfolio Fund ------------------------------------------------------------------------------- Assets Investments at fair value: Kansas City Power & Light Stock Fund, 3,008,805 shares (cost $71,349,005) $89,135,730 $ - $ - $ - $ - $ - $ - Fidelity Managed Income Portfolio, 9,149,784 shares (cost $9,149,784) - 9,149,784 - - - - - Fidelity Puritan Fund, 963,225 shares (cost $16,270,121) - - 19,258,447 - - - - Fidelity Magellan Fund, 392,126 shares (cost $30,909,541) - - - 47,434,268 - - - Fidelity Asset Manager Fund, 104,239 shares (cost $1,809,014) - - - - 1,812,232 - - Fidelity OTC Portfolio, 117,902 shares (cost $4,089,270) - - - - - 5,142,776 - Fidelity Overseas Fund, 66,126 shares (cost $2,123,243) - - - - - - 2,378,507 Fidelity Blue Chip Growth Portfolio, 26,171 shares (cost $1,222,121) - - - - - - - Fidelity Freedom Income Fund, 12,177 shares (cost $132,868) - - - - - - - Fidelity Freedom 2000, 4,448 shares cost $54,697) - - - - - - - Fidelity Freedom 2010, 22,115 shares (cost $292,034) - - - - - - - Fidelity Freedom 2020, 9,601 shares (cost $117,271) - - - - - - - Fidelity Freedom 2030, 5,359 shares (cost - - - - - - - $67,361) Loans to participants - - - - - - - - ------------------------------------------------------------------------------- Net assets available $89,135,730 $9,149,784 $19,258,447 $47,434,268 $1,812,232 $5,142,776 $2,378,507 for benefits ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- (END OF LEFT HALF OF TABLE) (START OF RIGHT HALF OF TABLE) Fidelity Investment Funds ------------------------------------------------------------------------------- Blue Chip Freedom Growth Income Freedom Freedom Freedom Freedom Loans to Portfolio Fund 2000 2010 2020 2030 Participants Total ------------------------------------------------------------------------------- Assets Investments at fair value: Kansas City Power & Light Stock Fund, 3,008,805 shares (cost $71,349,005) $ - $ - $ - $ - $ - $ - $ - $89,135,730 Fidelity Managed Income Portfolio, 9,149,784 shares (cost $9,149,784) - - - - - - - 9,149,784 Fidelity Puritan Fund, 963,225 shares (cost $16,270,121) - - - - - - - 19,258,447 Fidelity Magellan Fund, 392,126 shares (cost $30,909,541) - - - - - - - 47,434,268 Fidelity Asset Manager Fund, 104,239 shares (cost $1,809,014) - - - - - - - 1,812,232 Fidelity OTC Portfolio, 117,902 shares (cost $4,089,270) - - - - - - - 5,142,776 Fidelity Overseas Fund, 66,126 shares (cost $2,123,243) - - - - - - - 2,378,507 Fidelity Blue Chip Growth Portfolio, 26,171 shares (cost $1,222,121) 1,318,563 - - - - - - 1,318,563 Fidelity Freedom Income Fund, 12,177 shares (cost $132,868) - 136,097 - - - - - 136,097 Fidelity Freedom 2000, 4,448 shares cost $54,697) - - 54,842 - - - - 54,842 Fidelity Freedom 2010, 22,115 shares (cost $292,034) - - - 294,050 - - - 294,050 Fidelity Freedom 2020, 9,601 shares (cost $117,271) - - - - 133,883 - - 133,883 Fidelity Freedom 2030, 5,359 shares (cost - - - - - 74,415 - 74,415 $67,361) Loans to participants - - - - - - 5,887,704 5,887,704 ------------------------------------------------------------------------------- Net assets available $1,318,563 $136,097 $54,842 $294,050 $133,883 $74,415 $5,887,704 $182,211,298 for benefits ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- [END OF RIGHT HALF] See accompanying notes. 4

Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan Statement of Net Assets Available for Plan Benefits with Fund Information December 31, 1997 Fidelity Investment Funds ------------------------------------------------------------------- KCPL Asset Stock MIP Puritan Magellan Manager OTC Overseas Loans to Fund Fund Fund Fund Fund Portfolio Fund Participants Total ---------------------------------------------------------------------------------------------------------- Assets Investments at fair value: Short-term money market $ - $ - $ 2,242 $ 2,242 $ - $ - $ - $ - $ 4,484 Kansas City Power & Light Stock Fund, 2,897,546 shares (cost $65,323,576) 85,658,711 - - - - - - - 85,658,711 Fidelity Managed Income Portfolio, 8,164 shares (cost $8,164,153) - 8,164,153 - - - - - - 8,164,153 Fidelity Puritan Fund, 843,587 shares (cost $13,687,603) - - 16,348,723 - - - - - 16,348,723 Fidelity Magellan Fund, 375,422 shares (cost $27,627,240) - - - 35,766,457 - - - - 35,766,457 Fidelity Asset Manager Fund, 69,101 shares (cost $1,149,625) - - - - 1,268,009 - - - 1,268,009 Fidelity OTC Portfolio, 89,621 shares (cost $2,962,920) - - - - - 2,997,828 - - 2,997,828 Fidelity Overseas Fund, 63,012 shares (cost $1,950,196) - - - - - - 2,050,412 - 2,050,412 ---------------------------------------------------------------------------------------------------------- Loans to - - - - - - - 5,938,460 5,938,460 participants Total 85,658,711 8,164,153 16,350,965 35,768,699 1,268,009 2,997,828 2,050,412 5,938,460 158,197,237 investments Receivables: Money market 506 311 112 19 8 8 6 - 970 interest Commission 47 - - - - - - - 47 reimbursement --------------------------------------------------------------------------------------------------------- Total receivables 553 311 112 19 8 8 6 - 1,017 --------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------- Total assets 85,659,264 8,164,464 16,351,077 35,768,718 1,268,017 2,997,836 2,050,418 5,938,460 158,198,254 Liabilities: Benefits payable to 1,581,604 14,844 149,493 490,765 - - 9,807 - 2,246,513 participants ------------------------------------------------------------------------------------------------------------ Net assets $84,077,660 $8,149,620 $16,201,584 $35,277,953 $1,268,017 $2,997,836 $2,040,611 $5,938,460 $155,951,741 available for ------------------------------------------------------------------------------------------------------------- benefits ------------------------------------------------------------------------------------------------------------- See accompanying notes. 5

Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan Statement of Changes in Net Assets Available for Benefits with Fund Information Year ended December 31, 1998 (NOTE: THE FOLLOWING TABULAR INFORMATION EXCEEDED 130 CHARACTER LIMITATION IN ITS ORIGINAL FORMAT. INFORMATION HAS BEEN SPLIT INTO TWO HALVES FOR THIS ELECTRONIC FILING.) (START OF LEFT HALF OF TABLE) Fidelity Investment Funds --------------------------------------------------------------------------- KCPL Asset Stock MIP Puritan Magellan Manager OTC Overseas Fund Fund Fund Fund Fund Portfolio Fund ----------------------------------------------------------------------------------------- Additions Investment income: Net appreciation $(774,899) $ - $ 771,994 $9,714,854 $(85,805) $1,119,461 $204,113 (depreciation) in fair value of investments Dividends 4,804,526 - 1,982,403 2,225,750 326,863 250,811 45,091 Interest: Investments - 483,879 - - - - - Money market 2,654 1,163 1,561 1,189 50 592 162 Loans - - - - - - - ----------------------------------------------------------------------------------------- Net investment income 4,032,281 485,042 2,755,958 11,941,793 241,108 1,370,864 249,366 Contributions: Employee 2,866,038 711,541 1,375,165 2,460,143 230,681 606,571 304,340 Employer 2,777,009 - - - - - - Reimbursed 49,768 - - - - - - commissions Forfeitures 11,655 - - - - - - ----------------------------------------------------------------------------------------- Total contributions 5,704,470 711,541 1,375,165 2,460,143 230,681 606,571 304,340 ----------------------------------------------------------------------------------------- Total additions 9,736,751 1,196,583 4,131,123 14,401,936 471,789 1,977,435 553,706 Deduction Distribution to 2,816,108 592,159 1,097,552 1,401,007 84,132 166,486 123,766 participants Forfeited benefits 17,871 - - - - - - Transfer to another 43,010 - 38,843 276,120 - 40,264 92,640 plan ----------------------------------------------------------------------------------------- Total deductions 2,876,989 592,159 1,136,395 1,677,127 84,132 206,750 216,406 Loans to participants: New loans (1,327,354) (216,356) (347,146) (958,384) (32,906) (49,081) (31,735) Principal repayments 1,366,933 265,676 429,080 1,056,268 37,486 123,175 64,034 ----------------------------------------------------------------------------------------- 39,579 49,320 81,934 97,884 4,580 74,094 32,299 Intrafund transfers (1,841,271) 346,420 (19,799) (666,378) 151,978 300,161 (31,703) ----------------------------------------------------------------------------------------- Net increase 5,058,070 1,000,164 3,056,863 12,156,315 544,215 2,144,940 337,896 (decrease) Net assets available for benefits: Beginning of year 84,077,660 8,149,620 16,201,584 35,277,953 1,268,017 2,997,836 2,040,611 ---------------------------------------------------------------------------------------- End of year $89,135,730 $9,149,784 $19,258,447 $47,434,268 $1,812,232 $5,142,776 $2,378,507 ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- (END OF LEFT HALF OF TABLE) (START OF RIGHT HALF OF TABLE) Fidelity Investment Funds ------------------------------------------------------------------------------------ Blue Chip Freedom Growth Income Freedom Freedom Freedom Freedom Loans to Portfolio Fund 2000 2010 2020 2030 Participants Total ------------------------------------------------------------------------------------ Additions Investment income: Net appreciation $ 91,925 $1,897 $ (326) $ 2,042 $14,117 $ 3,205 $ - $11,062,578 (depreciation) in fair value of investments Dividends 23,189 3,287 1,639 8,338 3,551 1,677 - 9,677,125 Interest: Investments - - - - - - - 483,879 Money market 14 3 1 24 1 161 - 7,575 Loans - - - - - - 506,912 506,912 ------------------------------------------------------------------------------------ Net investment income 115,128 5,187 1,314 10,404 17,669 5,043 506,912 21,738,069 Contributions: Employee 70,927 3,803 3,738 8,325 5,808 10,812 - 8,657,892 Employer - - - - - - - 2,777,009 Reimbursed - - - - - - - 49,768 commissions Forfeitures - - - - - - - 11,655 ------------------------------------------------------------------------------------ Total contributions 70,927 3,803 3,738 8,325 5,808 10,812 - 11,496,324 ------------------------------------------------------------------------------------ Total additions 186,055 8,990 5,052 18,729 23,477 15,855 506,912 33,234,393 Deductions Distribution to 6,937 - - 1,532 1,548 - 174,861 6,466,088 participants Forfeited benefits - - - - - - - 17,871 Transfer to another - - - - - - - 490,877 plan -------------------------------------------------------------------------------------- Total deductions 6,937 - - 1,532 1,548 - 174,861 6,974,836 Loans to participants: New loans (700) - - - (13,675) - 2,977,337 - Principal repayments 10,853 375 300 2,470 1,589 1,905 (3,360,144) - -------------------------------------------------------------------------------------- 10,153 375 300 2,470 (12,086) 1,905 (382,807) - Intrafund transfers 1,129,292 126,732 49,490 274,383 124,040 56,655 - - -------------------------------------------------------------------------------------- Net increase 1,318,563 136,097 54,842 294,050 133,883 74,415 (50,756) 26,259,557 (decrease) Net assets available for benefits: Beginning of year - - - - - - 5,938,460 155,951,741 -------------------------------------------------------------------------------------- End of year $1,318,563 $36,097 $54,842 $294,050 $133,883 $74,415 $5,887,704 $182,211,298 -------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------- (END OF RIGHT HALF OF TABLE) See accompanying notes. 6

Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan Statement of Changes in Net Assets Available for Plan Benefits with Fund Information Year ended December 31, 1997 Fidelity Investment Funds ---------------------------------------------------------------------- KCPL Asset Loans Stock MIP Puritan Magellan Manager OTC Overseas to Partic- Fund Fund Fund Fund Fund Portfolio Fund ipants Total -------------------------------------------------------------------------------------------------------------- Additions Investment income: Net appreciation $2,545,025 $ - $1,573,140 $5,046,647 $ 91,409 $(1,016) $50,573 $ - $ 9,305,778 (depreciation) in fair value of investments Dividends 4,492,971 - 1,286,699 2,288,869 103,455 203,481 99,448 - 8,474,923 Interest: Investments - 427,430 - - - - - - 427,430 Money market 3,843 2,466 1,499 1,924 116 431 200 - 10,479 Loans - - - - - - - 590,128 590,128 Other (11) - 91 2,525 358 27 4 - 2,994 --------------------------------------------------------------------------------------------------------------- Net investment income 7,041,828 429,896 2,861,429 7,339,965 195,338 202,923 150,225 590,128 18,811,732 Contributions: Employee 2,853,496 730,252 1,267,863 2,293,002 158,129 523,531 371,858 - 8,198,131 Employer 2,725,984 - - - - - - - 2,725,984 Rollovers 16,923 4,790 7,185 36,825 20,780 24,636 5,642 - 116,781 Reimbursed commissions 45,530 - - - - - - - 45,530 Forfeitures 3,434 - - - - - - - 3,434 --------------------------------------------------------------------------------------------------------------- Total contributions 5,645,367 735,042 1,275,048 2,329,827 178,909 548,167 377,500 - 11,089,860 --------------------------------------------------------------------------------------------------------------- Total additions 12,687,195 1,164,938 4,136,477 9,669,792 374,247 751,090 527,725 590,128 29,901,592 Deductions Distribution to 3,037,910 626,786 585,038 979,935 17,283 42,734 23,972 155,750 5,469,408 participants Forfeited benefits 4,714 - - - - - - - 4,714 --------------------------------------------------------------------------------------------------------------- Total deductions 3,042,624 626,786 585,038 979,935 17,283 42,734 23,972 155,750 5,474,122 Loans to participants: New loans (1,115,831) (184,981) (260,539) (852,123) (4,007) (48,850) (27,277) 2,493,608 - Principal repayments 1,156,043 230,058 346,196 855,060 29,872 124,818 50,126 (2,792,173) - --------------------------------------------------------------------------------------------------------------- 40,212 45,077 85,657 2,937 25,865 75,968 22,849 (298,565) - Intrafund transfers (408,319) 320,547 280,395 (711,871) 129,475 383,719 6,054 - - --------------------------------------------------------------------------------------------------------------- Net increase 9,276,464 903,776 3,917,491 7,980,923 512,304 1,168,043 532,656 135,813 24,427,470 Net assets available for benefits: Beginning of year 74,801,196 7,245,844 12,284,093 27,297,030 755,713 1,829,793 1,507,955 5,802,647 131,524,271 --------------------------------------------------------------------------------------------------------------- End of year $84,077,660 $8,149,620 $16,201,584 $35,277,953 $1,268,017 $2,997,836 $2,040,611 $5,938,460 $155,951,741 --------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------- See accompanying notes. 7

Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan Statement of Changes in Net Assets Available for Plan Benefits with Fund Information Year ended December 31, 1996 Fidelity Investment Funds ---------------------------------------------------------------------- KCPL Asset Stock MIP Puritan Magellan Manager OTC Overseas Loans to Fund Fund Fund Fund Fund Portfolio Fund Participants Total --------------------------------------------------------------------------------------------------------------- Additions Investment income: Net appreciation (depreciation) in fair value of investments $ 5,291,582 $ - $ 199,817 $(1,219,051) $ 20,769 $ 69,080 $ 63,352 $ - $ 4,425,549 Dividends 4,033,672 - 1,406,226 4,103,553 56,890 184,733 90,771 - 9,875,845 Interest: Investments - 407,767 - - - - - - 407,767 Money market 2,152 360 668 1,326 63 310 144 - 5,023 Loans - - - - - - - 533,818 533,818 Other 418 - (120) 186 (1) 37 (4) - 516 -------------------------------------------------------------------------------------------------------------- Net investment income 9,327,824 408,127 1,606,591 2,886,014 77,721 254,160 154,263 533,818 15,248,518 Contributions: Employee 2,617,686 653,474 1,044,750 2,188,816 104,159 242,728 213,324 - 7,064,937 Employer 2,607,428 - 265 2,180 - - - - 2,609,873 Rollovers 13,009 1,686 27,038 74,862 6,963 24,591 739 - 148,888 Reimbursed commissions 44,193 - - - - - - - 44,193 Forfeitures 3,284 - - - - - - - 3,284 -------------------------------------------------------------------------------------------------------------- Total contributions 5,285,600 655,160 1,072,053 2,265,858 111,122 267,319 214,063 - 9,871,175 -------------------------------------------------------------------------------------------------------------- Total additions 14,613,424 1,063,287 2,678,644 5,151,872 188,843 521,479 368,326 533,818 25,119,693 Deductions Distribution to 2,517,196 427,468 586,695 1,056,057 326 2,175 106 95,647 4,685,670 participants Forfeited benefits 3,269 - - - - - - - 3,269 --------------------------------------------------------------------------------------------------------------- Total deductions 2,520,465 427,468 586,695 1,056,057 326 2,175 106 95,647 4,688,939 Loans to participants: New loans (1,281,983) (200,071) (406,246) (856,372) (11,155) (29,774) (39,156) 2,824,757 - Principal repayments 1,158,221 225,852 331,625 775,993 12,937 48,993 35,412 (2,589,033) - --------------------------------------------------------------------------------------------------------------- (123,762) 25,781 (74,621) (80,379) 1,782 19,219 (3,744) 235,724 - Intrafund transfers 742,510 (73,157) (91,188) (1,377,381) 939 628,499 169,778 - - --------------------------------------------------------------------------------------------------------------- Net increase 12,711,707 588,443 1,926,140 2,638,055 191,238 1,167,022 534,254 673,895 20,430,754 Net assets available for benefits: Beginning of year 62,089,489 6,657,401 10,357,953 24,658,975 564,475 662,771 973,701 5,128,752 111,093,517 End of year $74,801,196 $7,245,844 $12,284,093 $27,297,030 $755,713 $1,829,793 $1,507,955 $5,802,647 $131,524,271 --------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------- See accompanying notes. 8

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1998 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES VALUATION OF INVESTMENTS Investments of the Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan (the Plan) are valued at fair value based on quoted market prices on the last business day of the plan year. Loans to participants are valued based on outstanding principal amounts owed on the last business day of the plan year as reported to the Plan by the trustee. CONTRIBUTIONS Contributions from Kansas City Power & Light Company (the Company) are accrued and paid in the period in which they become obligations of the Company. USE OF ESTIMATES The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. RECLASSIFICATIONS Certain reclassification of 1997 and 1996 balances have been made to conform to the 1998 presentation. These reclassifications had no impact on net assets available for benefits. 2. DESCRIPTION OF THE PLAN The following description of the Plan provides only general information. Participants should refer to the summary plan description for a more complete description of the Plan's provisions. 9

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. DESCRIPTION OF THE PLAN (CONTINUED) The Plan is designed to encourage and assist employees of the Company to adopt a regular savings and investment program for long-term needs, especially retirement. The Company is the plan administrator and UMB Bank, N.A. (UMB) is the trustee. The Administrative Committee is the fiduciary of the Plan and has the responsibility of establishing the rules under which the Plan is run. GENERAL The Plan is a contributory defined contribution plan available to permanent full- and part-time employees of Kansas City Power & Light Company, KLT Inc., KLT Power Inc., KLT Gas Inc. or KLT Telecom, Inc. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 (ERISA). During 1998, the Company sold KLT Power Inc. resulting in plan assets of $490,877 being transferred to another plan. ELIGIBILITY AND EMPLOYEE CONTRIBUTIONS Employees are immediately eligible to make elective contributions to the Plan. If the employee begins employment during the first 15 days of a month, they can begin partici- pating in the Plan the first day of the following month. If an employee's first day of employment is after the 15th of the month, they are eligible to participate in the Plan the first day of the next following month. Participants can contribute any whole percentage of their base pay from 2% to 12% (prior to April 1, 1997, the maximum percentage was 10%) to the Plan, except that contributions may not exceed the maximum allowable under the law. The maximum individual contribution allowed for 1998 was $10,000 and for 1997 and 1996 was $9,500. Other special limitations may reduce the participant elective and Company matching maximum contribution amounts for highly compensated employees. 10

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. DESCRIPTION OF THE PLAN (CONTINUED) COMPANY MATCHING CONTRIBUTIONS The Company contributes an amount equal to 50% of the employee's elective contribution, not to exceed 3% of base pay as defined in the Plan. Company contributions may be made in cash, Company stock, or a combination thereof. Company contributions will at all times be invested in the common stock of the Company (see Note 6). The Company will begin matching employee contributions when the employee completes one year of service. ROLLOVERS Participants may elect to transfer funds from another qualified retirement plan to the Plan, with permission from the Administrative Committee. VESTING AND FORFEITURES a. Participants are at all times 100% vested in their elective contribution and rollover accounts. b. Participants who retire after age 55, die or become totally and permanently disabled while an employee of the Company are considered 100% vested in the Company-Match Account, regardless of their length of service with the Company. Vesting of the Company-Match Account for participants who leave the Company for a reason other than death, disability or retirement is based on years of service for vesting. A year of service for Plan purposes is defined as any year in which an employee completes at least 1,000 hours of service with the Company. Generally all years of service with the Company are taken into account in computing years of service for vesting. Participants who accrue two years of service prior to termination of employment are 20% vested. Participants are credited with 20% additional vesting each year thereafter, with full vesting after six years of service. 11

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. DESCRIPTION OF THE PLAN (CONTINUED) The portion of the Company-Match Account that is not vested is forfeited by terminating participants. Forfeitures are used to reduce future Company matching contributions. The 1998, 1997 and 1996 forfeited benefits were $17,871, $4,714 and $3,269, respectively. The Company used forfeiture credits of $11,655, $3,434 and $3,284 for 1998, 1997 and 1996, respectively, to reduce the matching contributions. INVESTMENT OF ACCOUNTS a.Investment of Elective Contribution and Rollover Accounts - Participants may direct (in 5% increments) the investment of their elective contribution and rollover accounts in one or more of the following 13 investment funds: (i) KCPL STOCK FUND - A fund designed to invest solely in the Company common stock. (ii) FIDELITY MANAGED INCOME PORTFOLIO (MIP) - A collective investment trust that seeks to preserve capital and provide a competitive level of income over time. (iii) FIDELITY PURITAN FUND - A growth and income fund that seeks income consistent with preservation of capital by investing in a broadly diversified portfolio of common stock, preferred stock and bonds, including lower-quality, high- yield debt securities. (iv) FIDELITY MAGELLAN FUND - A growth fund that seeks long-term capital appreciation by investing in stocks of companies with potentially above average growth potential and a corresponding higher level of risk. (v) FIDELITY ASSET MANAGER FUND - An asset allocation fund that seeks high total return with reduced risk over the long term by investing in domestic and foreign equities, bonds and short- term instruments. (vi) FIDELITY OTC PORTFOLIO - A growth fund that seeks long-term capital appreciation by investing in securities traded on the over-the-counter securities market. 12

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. DESCRIPTION OF THE PLAN (CONTINUED) (vii) FIDELITY OVERSEAS FUND - An international growth fund that seeks long-term capital growth by investing in foreign securities that include common stock, securities convertible into common stock and debt instruments. (viii) FIDELITY BLUE CHIP GROWTH PORTFOLIO - A growth fund that seeks long-term capital growth by investing mainly in common stocks of well-known and established companies. (ix) FIDELITY FREEDOM INCOME FUND - A high current income fund which also has a secondary objective, capital appreciation. The fund invests in a com- bination of Fidelity funds allocating assets according to a stable target asset allocation that emphasizes fixed income and money market funds but also includes equity funds. (x) FIDELITY FREEDOM 2000 - A high total return fund that invests in a combination of Fidelity equity, fixed income and money market funds and allocates its assets among those funds according to an asset allocation strategy that becomes increasingly conservative as Freedom 2000 approaches its target retirement date. Targeted to investors expected to retire around the year 2000. (xi) FIDELITY FREEDOM 2010 - A high total return fund that invests in a combination of Fidelity equity, fixed income and money market funds and allocates its assets among those funds according to an asset allocation strategy that becomes increasingly conservative as Freedom 2010 approaches its target retirement date. Targeted to investors expected to retire around the year 2010. (xii) FIDELITY FREEDOM 2020 - A high total return fund that invests in a combination of Fidelity equity, fixed income and money market funds and allocates its assets among those funds according to an asset allocation strategy that becomes increasingly conservative as Freedom 2020 approaches its target retirement date. Targeted to investors expected to retire around the year 2020. 13

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. DESCRIPTION OF THE PLAN (CONTINUED) (xiii) FIDELITY FREEDOM 2030 - A high total return fund that invests in a combination of Fidelity equity, fixed income and money market funds and allocates its assets among those funds according to an asset allocation strategy that becomes increasingly conservative as Freedom 2030 approaches its target retirement date. Targeted to investors expected to retire around the year 2030. b. Investment of Company-Match Account - This account will at all times be invested in the common stock of the Company (see Note 6). As of December 31, 1998, 1,892 employees were participating in the Plan, 1,159 of whom were investing their elective contributions in more than one of the available options of the Plan. There were 75 employees contributing only to Fidelity MIP, 37 employees contributing only to the Fidelity Puritan Fund, 148 employees contributing only to the Fidelity Magellan Fund, two employees contributing only to the Fidelity Asset Manager Fund, 18 employees contributing only to the Fidelity OTC Portfolio, three employees contributing only to the Fidelity Overseas Fund, 424 employees contributing only to the KCPL Stock Fund, one employee contributing only to the Freedom Income Fund, two employees contributing only to Freedom 2000 Fund, three employees contributing only to Freedom 2010, three employees contributing only to Freedom 2020, one employee contributing only to Freedom 2030 and 16 employees contributing only to the Fidelity Blue Chip Growth Portfolio. Participants also have the opportunity to change how their past savings in their elective and rollover accounts are invested. Participants can make such changes on a daily basis. Participants making such elections will have their fund shares sold and the proceeds transferred and fund shares purchased per their request. The nonparticipant-directed portion of the KCPL Stock Fund consisted of 1,373,495 shares valued at $40,689,749 and 1,278,593 shares valued at $37,798,408 at December 31, 1998 and 1997, respectively. 14

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. DESCRIPTION OF THE PLAN (CONTINUED) ALLOCATION OF INVESTMENT INCOME The trustee allocates investment income based on the shares held by participants in their individual accounts. Individual accounts are valued on each business day by the trustee to reflect the current market value of the investments. If contributions or participant transfers received by the trustee cannot be immediately invested in the investment funds, the moneys are held in an interest-bearing UMB Money Market Fund. Some distributions may also be invested in the money market fund prior to payment to the participant. Any interest earned is allocated back to the investment accounts based on the amounts originally transferred. TERMINATION PAYMENTS Participants who leave the Company as a result of termination, retirement or permanent disability may receive the entire amount of their account in one lump-sum payment, rollover their account to another trustee or elect to defer distribution until age 62 or retirement, whichever is later. Upon death, distributions will be made to beneficiaries in a lump sum or in installment payments over a period of no more than three years. Payment will commence no later than 60 days after the December 31 coinciding with or next following the date of the participant's death. Terminated employees may elect to defer their distribution until age 62. The deferred to age 62 totals for participants not required to receive distributions in the next calendar year are $10,376,119, $9,868,502 and $8,015,135 as of December 31, 1998, 1997 and 1996, respectively. LOANS TO PARTICIPANTS The Plan allows participants to borrow against their vested account balance to obtain either an installment or residential loan. Other than by obtaining a loan, the Plan does not provide for in-service withdrawals from elective accounts, rollover accounts or Company-Match Accounts. Distributions are made only upon retirement, disability, termination of employment or death. 15

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. DESCRIPTION OF THE PLAN (CONTINUED) An installment loan may be used for any purpose, whereas a residential loan must be used for the purchase of the participant's primary residence. The maximum loan terms for installment and residential loans are five and 15 years, respectively. A participant may have no more than one of each type of loan outstanding at the same time. For all loans issued through October 1989, if the participant's account balance was $20,000 or less, a maximum of 80% of the vested account balance, not to exceed $10,000, could be borrowed. If the account balance was more than $20,000, 50% of the vested account balance, not to exceed $50,000, could be borrowed. The interest rate for these loans was based on the Fidelity GIC Group Trust interest rate of 8.31%. For loans issued after November 1, 1989, the maximum amount that a participant can borrow is 50% of their vested account balance, not to exceed $50,000. The interest rate for these loans is UMB's prime rate plus 2%. The minimum amount a participant can borrow is $1,000. Principal and interest on all loans is repaid to the participant's individual accounts based on their current contribution allocation election. All loans are repaid by payroll deduction except when paid in full in advance or the unpaid principal is deducted from a total distribution which results from a death, disability, retirement or termination. COMMISSIONS AND ADMINISTRATIVE EXPENSES Total 1998, 1997 and 1996 commissions were $49,768, $45,530 and $44,193, respectively, of which the Company owed the Plan $47 at December 31, 1997. Commissions paid by the Plan for purchases and sales of Company common stock are reimbursed by the Company. 16

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 2. DESCRIPTION OF THE PLAN (CONTINUED) Administrative expenses are also paid by the Company. During the years ended December 31, 1998, 1997 and 1996, a net of $(39,969), $14,962 and $26,030, respectively, in costs for the administration of the Plan were billed to the Company by the Trustee after deducting plan expense reimbursements from Fidelity Investments. RELATED-PARTY AND PARTY-IN-INTEREST TRANSACTIONS The trustee is authorized under contract provisions and ERISA regulations to invest in funds under its control and in securities of the Company. In 1998, purchases and sales in the KCPL Stock Fund under the trustee's control totaled $12,264,877 and $8,012,960, respectively. In 1997, purchases and sales in the KCPL Stock Fund under the trustee's control totaled $13,341,965 and $6,612,130, respectively. Temporary cash balances are invested on a daily basis in short-term investment funds under the trustee's control. Although those temporary cash balances are not material to the Plan's financial statements, in 1998 there were 476 purchases and 490 sales totaling $19,738,449 and $19,742,933, respectively. There were 567 purchases and 549 sales in the UMB Money Market Fund totaling $22,918,041 and $22,851,172, respectively, in 1997. 17

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 3. INVESTMENTS The Plan's investments are held by UMB Bank, N.A. The following table presents the Plan's investments including separate identification of investments that represent 5% or more of the Plan's net assets available for benefits. During 1998, 1997 and 1996, the Plan's investments (including investments bought and sold, as well as held, during the year) appreciated (depreciated) in fair value as follows: Realized and Unrealized Net Appreciation (Depreciation) Fair Value in Fair Value at End During Year of Year ------------- ----------- Year ended December 31, 1998: Investments at fair value as determined by quoted market price: KCPL Stock Fund $ (774,899) $ 89,135,730 Fidelity Investment Funds: MIP Fund 9,149,784 Puritan Fund 771,994 19,258,447 Magellan Fund 9,714,854 47,434,268 Asset Manager Fund (85,805) 1,812,232 OTC Portfolio 1,119,461 5,142,776 Overseas Fund 204,113 2,378,507 Blue Chip Growth Portfolio 91,925 1,318,563 Freedom Income Fund 1,897 136,097 Freedom 2000 (326) 54,842 Freedom 2010 2,042 294,050 Freedom 2020 14,117 133,883 Freedom 2030 3,205 74,415 ---------- ----------- 11,062,578 176,323,594 Investments at estimated fair value: Loans to participants - 5,887,704 ----------- ------------ $11,062,578 $182,211,298 ----------- ------------ ----------- ------------ 18

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 3. INVESTMENTS (CONTINUED) Realized and Unrealized Net Appreciation (Depreciation) Fair Value in Fair Value at End During Year of Year -------------- ------------- Year ended December 31, 1997: Investments at fair value as determined by quoted market price: KCPL Stock Fund $ 2,545,025 $ 85,658,711 Fidelity Investment Funds: MIP Fund - 8,164,153 Puritan Fund 1,573,140 16,348,723 Magellan Fund 5,046,647 35,766,457 Asset Manager Fund 91,409 1,268,009 OTC Portfolio (1,016) 2,997,828 Overseas Fund 50,573 2,050,412 UMB Bank, N.A. - 4,484 ----------- ----------- 9,305,778 152,258,777 Investments at estimated fair value: Loans to participants - 5,938,460 $ 9,305,778 $ 158,197,237 ----------- ------------- ----------- ------------- 19

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 3. INVESTMENTS (CONTINUED) Realized and Unrealized Net Appreciation (Depreciation) in Fair Value During Year -------------- Year ended December 31, 1996: Investments at fair value as determined by quoted market price: KCPL Stock Fund $5,291,582 Fidelity Investment Funds: MIP Fund - Puritan Fund 199,817 Magellan Fund (1,219,051) Asset Manager Fund 20,769 OTC Portfolio 69,080 Overseas Fund 63,352 UMB Bank, N.A. - ------------ $4,425,549 ------------ ------------ Dividend income earned on the Plan's investments was $9,677,125, $8,474,923 and $9,875,845 during the years ended December 31, 1998, 1997 and 1996, respectively. Interest income earned on the Plan's investments was $998,366, $1,031,031 and $947,124 during the years ended December 31, 1998, 1997 and 1996, respectively. 20

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 4. INCOME TAX STATUS The Plan has received a determination letter from the Internal Revenue Service dated July 16, 1998 stating that the Plan is qualified under Section 401(1) of the Internal Revenue Code (the Code) and, therefore, the related trust is exempt from taxation. Once qualified, the Plan is required to operate in conformity with the Code to maintain its qualification. The Plan has been amended since receiving the last tax determination letter. However, the Administrative Committee believes the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan is qualified and the related trust is tax exempt. 5. AMENDED AND RESTATED PLAN OF MERGER WITH WESTERN RESOURCES A merger agreement was entered into with Western Resources on February 7, 1997. In December 1997 KCPL canceled its previously scheduled special meeting of shareholders to vote on the transaction because Western Resources advised KCPL that its investment bankers, Salomon Smith Barney, had indicated that it was unlikely that Salomon would be in a position to issue a fairness opinion. During 1997 KCPL incurred and deferred $7 million of merger-related costs that were expensed in December 1997. On March 18, 1998, KCPL and Western Resources entered into an Amended and Restated Agreement and Plan of Merger (Amended Agreement). This Amended Agreement provides for the combination of the regulated electric utilities of KCPL and Western Resources into Westar Energy, a new company, using purchase accounting. Westar Energy would be owned approximately 80.1% by Western Resources and approximately 19.9% by KCPL shareholders. KCPL shareholders would receive for each share of KCPL's stock one share of Westar Energy common stock and a fraction of a share of Western Resources common stock. The value of any transaction to KCPL shareholders cannot be determined until closing. If Western Resources' average stock price for a twenty-day period just prior to closing is less than or equal to $29.78, either party can terminate this Amended Agreement. The Amended Agreement also requires KCPL to redeem all outstanding shares of cumulative preferred stock before consummation of the proposed transactions. 21

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 5. AMENDED AND RESTATED PLAN OF MERGER WITH WESTERN RESOURCES (CONTINUED) If the Amended Agreement is terminated under certain circumstances and KCPL, within two and one-half years following termination, agrees to consummate a business combination with a third party that made a proposal to combine before termination, a payment of $50 million will be due Western Resources. Under certain circumstances, if KCPL determines not to consummate its merger into Westar Energy due to its inability to receive a favorable tax opinion from its legal counsel, it must pay Western Resources $5 million. Western Resources will pay KCPL $5 million to $35 million if the Amended Agreement is terminated and all closing conditions are satisfied other than conditions relating to Western Resources receiving a favorable tax opinion from its legal counsel, favorable statutory approvals or an exemption from the Public Utility Holding Company Act of 1935. On July 30, 1998, KCPL's and Western Resources' shareholders approved the Amended Agreement at special meetings of shareholders. However, the transaction is still subject to several other closing conditions, including: - approval by a number of regulatory and governmental agencies on terms and conditions which would not have a material adverse effect on the benefits anticipated by Western Resources in the merger. - Merger hearings before the Kansas Corporation Commission (KCC) concluded on May 20, 1999. - Merger hearings before the Missouri Public Service Commission (MPSC) are scheduled to begin on July 26, 1999. The orders in the KCC and MPSC proceedings are expected this fall. - The Federal Energy Regulatory Commission (FERC) hearing is schedule to begin October 25, 1999. Unless a settlement is reached with the FERC, an order is not expected until the first quarter of 2000. - reasonable satisfaction by Western Resources that it will be exempt from all of the provisions of the Public Utility Holding Company Act of 1935 other than Section 9(a)(2) thereof. 22

KANSAS CITY POWER & LIGHT COMPANY CASH OR DEFERRED ARRANGEMENT EMPLOYEE SAVINGS PLUS PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) 5. AMENDED AND RESTATED PLAN OF MERGER WITH WESTERN RESOURCES (CONTINUED) We cannot predict when or if the closing conditions will be met. If the merger has not closed by December 31, 1999, either party may terminate the Amended Agreement. The effect of the merger on the Plan is not known yet. 6. SUBSEQUENT EVENT Effective January 1, 1999, the Plan was amended to allow participants who have attained the age of 55 to transfer funds in their Company-Match Account to any investment fund offered under the Plan. 7. YEAR 2000 ISSUE (UNAUDITED) The Company determined the necessity to take certain steps to ensure that the Plan's information systems are prepared to handle year 2000 dates. Plan management took a two-phase approach. The first phase addressed internal systems to be modified or replaced to function properly. Resources were utilized to replace and modify existing software applications and to test the software and equipment for year 2000 readiness. The Company substantially has completed these readiness efforts. Costs associated with these efforts were not estimated to be significant and were paid by the Company. For the second phase, Plan management established formal communications with its third-party service providers to determine that they have developed plans to address their own year 2000 problems as they relate to the Plan's operations. The third-party service providers have indicated that they will be year 2000 compliant by mid-year 1999. If modifications to data processing systems of either the Company or its service providers are not completed timely, the year 2000 could have a material impact on the operations of the Plan. Plan management has developed and will implement, if necessary, the appropriate contingency plans to mitigate to the extent possible the effects of any year 2000 noncompliance. 23

Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plan Plus Schedule of Assets Held for Investment December 31, 1998 Number of Shares Identity of Issuer or Units Cost Current Value - ---------------------------------- ----------- ------------ ------------- Corporate Stocks: Kansas City Power & Light Company* 3,008,805 $ 71,349,005 $ 89,135,730 Registered Investment Companies: Fidelity Managed Income 9,149,784 9,149,784 9,149,784 Portfolio Fidelity Puritan Fund 963,225 16,270,121 19,258,447 Fidelity Magellan Fund 392,126 30,909,541 47,434,268 Fidelity Asset Manager Fund 104,239 1,809,014 1,812,232 Fidelity OTC Portfolio 117,902 4,089,270 5,142,776 Fidelity Overseas Fund 66,126 2,123,243 2,378,507 Fidelity Blue Chip Growth 26,171 1,222,121 1,318,563 Portfolio Fidelity Freedom Income Fund 12,177 132,868 136,097 Fidelity Freedom 2000 4,448 54,697 54,842 Fidelity Freedom 2010 22,115 292,034 294,050 Fidelity Freedom 2020 9,601 117,271 133,883 Fidelity Freedom 2030 5,359 67,361 74,415 Loans to participants (rates range from 7.75% to 12%) - 5,887,704 5,887,704 ------------ ------------ $143,474,034 $182,211,298 ------------ ------------ ------------ ------------- *Party-in-interest to the Plan. 24

Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plan Plus Schedule of Reportable Transactions Year ended December 31, 1998 Current Value of Asset on Net Identity of Purchase Selling Cost Transaction Gain Party Involved Description of Asset Price Price of Asset Date (Loss) - -------------- ------------------------- --------- ---------- ----------- ------------ --------- Category (iii) - Series of transactions in excess of 5% of plan assets UMB Bank, N.A* Money market account $19,738,449 $ - $19,738,449 $19,738,449 $ - UMB Bank, N.A* Money market account - 19,742,933 19,742,933 19,742,933 - UMB Bank, N.A* Kansas City Power & Light Company Stock Fund 12,264,877 - 12,264,877 12,264,877 - UMB Bank, N.A* Kansas City Power & Light Company Stock Fund - 8,012,960 6,217,221 8,012,960 1,795,739 Fidelity Fidelity Managed Income 5,566,340 - 5,566,340 5,566,340 - Investments Portfolio Fidelity Fidelity Managed Income - 4,580,709 4,584,297 4,580,709 (3,588) Investments Portfolio Fidelity Fidelity Magellan Fund 6,931,371 - 6,931,371 6,931,371 - Investments Fidelity Fidelity Magellan Fund - 4,978,414 3,556,717 4,978,414 1,421,697 Investments There were no category (i), (ii) or (iv) reportable transactions during 1998. *Party-in-interest to the Plan. 25

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrative Committee of the Employee Savings Plus Plan has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. EMPLOYEE SAVINGS PLUS PLAN ( ( (By: /s/B. M. Tate ( B. M. Tate, Chairman ( ( ( /s/F. L. Branca ( F. L. Branca, Member ( ( ( /s/Jeanie S. Latz ( J. S. Latz, Member June 25, 1999

Exhibit 1 Consent of Independent Auditors We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-58917) pertaining to the Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan of Kansas City Power & Light Company of our report dated June 14, 1999, with respect to the financial statements and schedules of the Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan included in this Annual Report (Form 11-K) for the year ended December 31, 1998. /s/Ernst & Young LLP Kansas City, Missouri June 25, 1999

Exhibit 2 Consent of Independent Accountants We consent to the incorporation by reference in the registration statement of Kansas City Power & Light Company on Form S-8 (File No. 33-58917) of our report dated June 17, 1998, on our audits of the financial statements of Kansas City Power & Light Company Cash or Deferred Arrangement Employee Savings Plus Plan as of December 31, 1997, and for the years ended December 31, 1997 and 1996, which report is included in this Annual Report on Form 11-K. /s/PricewaterhouseCoopers LLP PricewaterhouseCoopers LLP Kansas City, Missouri June 25, 1999