Aquila, Chubb Settlement Approved

July 21, 2004

Aquila Inc. and The Chubb Corporation announced that the United States District Court for the Western District of Missouri has approved a settlement between Aquila and two Chubb subsidiaries, Federal Insurance Company and Pacific Indemnity Company.

In the settlement announced earlier this week, Aquila is providing collateral that represents Chubb’s complete exposure under gas forward purchase surety bonds. Aquila and Chubb had jointly filed a motion with the court seeking approval of the settlement.

Based in Kansas City, Mo., Aquila operates electricity and natural gas distribution utilities serving customers in Colorado, Iowa, Kansas, Michigan, Minnesota, Missouri and Nebraska. The company also owns and operates power generation assets.

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