Westar Energy Completes $100 Million Sale of Common Stock

TOPEKA, Kan., July 17 /PRNewswire-FirstCall/ -- Westar Energy, Inc. today announced that it completed the sale of 3,701,568 shares of Westar Energy, Inc. common stock for $100 million, before placement fees of 1 percent. Utilizing a Sales Agency Finance Agreement with BNY Capital Markets, Inc. executed on April 12, 2007, the company sold shares periodically into the market at an average price per share of $27.02. Proceeds from the sales have been used to repay borrowings under the company's revolving credit facility, fund the company's construction program and for general corporate purposes.

"We are on the front edge of our largest construction program in 30 years as we make improvements and plant additions necessary to serve our customers. The sale of common stock as a component of funding these investments is consistent with our strategy of targeting a balanced capital structure of about 50 percent equity and 50 percent long-term debt," Mark Ruelle, executive vice president and chief financial officer, said. "We are pleased with the performance of this program, as we believe it provides us cost-effective and timely access to equity capital markets, reducing the amount of equity we will need to raise in the future."

Westar Energy, Inc. is the largest electric utility in Kansas, providing electric service to about 669,000 customers in the state. Westar Energy has about 6,100 megawatts of electric generation capacity and operates and coordinates approximately 33,000 miles of electric distribution and transmission lines.

For more information about Westar Energy, visit us on the Internet at http://www.westarenergy.com/.

Forward-looking statements: Certain matters discussed in this news release are "forward-looking statements." The Private Securities Litigation Reform Act of 1995 has established that these statements qualify for safe harbors from liability. Forward-looking statements may include words like "believe," "anticipate," "target," "expect," "pro forma," "estimate," "intend," "guidance" or words of similar meaning. Forward-looking statements describe future plans, objectives, expectations or goals. Although Westar Energy believes that its expectations are based on reasonable assumptions, all forward-looking statements involve risk and uncertainty. Therefore, actual results could vary materially from what we expect. Please review our Form 10-Q for the period ended Mar. 31, 2007 for important risk factors that could cause results to differ materially from those in any such forward-looking statements. Any forward-looking statement speaks only as of the date such statement was made, and the company does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement was made except as required by applicable laws or regulations.

Media contact: Karla Olsen, director, corporate communications Phone: [phone] FAX: [phone] contact: Bruce Burns, director, investor relations Phone: [phone]