KANSAS CITY, Mo., May 3, 2006 (PRIMEZONE) -- Aquila, Inc. (NYSE:ILA) announced today at the company's annual meeting in Kansas City, Mo., that its shareholders re-elected two directors and ratified the company's public accountant. Shareholders voted to approve:
-- Re-election of Michael M. Crow, president of Arizona State
University. He was first appointed to the board in 2003.
-- Re-election of Richard C. Green, Aquila's chairman and chief
executive officer. He has been a member of the company's
board since 1982.
-- Ratification of the company's appointment of KPMG LLP as
independent registered public accountant for 2006. KPMG has
served as accountant since 2002.
During the annual meeting, Green reviewed 2006 first quarter financial results released earlier today, and said: "We continue to reduce debt, creating a solid growth platform for the company's future." In late 2005, Aquila announced the sale of four utility properties for a total of $897.7 million. The sale of one property was completed in the first quarter and the remaining sales are expected to be completed by the end of the third quarter.
A copy of his annual meeting presentation is available at www.aquila.com. Click "Presentations & Webcasts" in the "Investor Information" section.
Based in Kansas City, Missouri, Aquila employees operate electricity and natural gas distribution utilities serving 1.2 million customers in communities in Colorado, Iowa, Kansas, Minnesota, Missouri and Nebraska. At March 31, 2006, Aquila had total assets of $4.2 billion. More information is available at www.aquila.com.
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