THE EMPIRE DISTRICT ELECTRIC COMPANY 602 JOPLIN STREET JOPLIN, MISSOURI			 64802				 417-625-5100	 FAX:	 417-625- 5169 www.empiredistrict.com PRESS RELEASE 														For Immediate Release Contact: 			MEDIA COMMUNICATIONS:	 INVESTOR RELATIONS: 				 		Amy Bas			 Janet S. Watson 	Director of Corporate Secretary - Treasurer Communications 417 625-5100, Ext. 223 			417 625-5100, Ext. 302	 							THE EMPIRE DISTRICT ELECTRIC COMPANY DECLARATION OF DIVIDENDS AND EARNINGS REPORT STOCKHOLDERS MEETING, ELECTION OF OFFICERS JOPLIN, MO, April 23, 1998--(NYSE:EDE) At the annual meeting of stockholders of The Empire District Electric Company held today, V.E. Brill, R.C. Hartley and F.E. Jeffries were elected to three-year terms as Directors of the Company. 		At the Board of Directors meeting, the Directors declared a quarterly dividend of 32 cents per share on Common Stock payable June 15, 1998, to holders of record as of June 1, 1998. The Board also declared regular quarterly dividends payable June 1, 1998, on the 43/4%, 5%, and 8-1/8% cumulative Preferred Stock to holders of record as of May 15, 1998. 		The Company reported earnings of $1.29 per share of common stock for the twelve months ended March 31, 1998, on revenues of $219,394,000 and net income of $24,009,000. Earnings for the twelve months ended March 31, 1997, were $1.17 per share on revenues of $205,649,000 and net income of $21,527,000. 		Earnings for the first quarter of 1998 were $0.16 per share on revenues of $51,388,000 and net income of $3,340,000. Earnings for the same period in 1997 were $0.15 per share on revenues of $47,305,000 and net income of $3,125,000. Earnings for the first quarter of 1998 reflect rate increases granted by the Missouri Public Service Commission which went into effect on July 28, 1997 and September 19, 1997 and were also impacted by unusually mild weather and rescheduled planned maintenance. 		The Board of Directors also re-elected all officers of the Corporation to their current positions: Myron W. McKinney, President and Chief Executive Officer; Virgil E. Brill, Vice President-Energy Supply; Robert B. Fancher, Vice President-Finance and Principal Financial Officer; William L. Gipson, Vice President-Commercial Operations; Clifford A. (Tony) Stark, Vice President-General Services; Janet S. Watson, Secretary-Treasurer; David W. Gibson, Director of Financial Services and Assistant Secretary; and Gregory A. Knapp, Controller, Assistant Treasurer and Principal Accounting Officer. THE EMPIRE DISTRICT ELECTRIC COMPANY FINANCIAL HIGHLIGHTS Quarter Ended March 31 Twelve Months Ended March 31 					 1998	 1997 1998 1997 Operating Revenues $51,388,000 $47,305,000 $219,394,000 $205,649,000 Net Income			 $3,340,000 $3,125,000 $24,009,000 $21,527,000 Net Income Applicable							 to Common Stock			 $2,736,000 $2,521,000 $21,592,000 $19,111,000 Weighted Average									 Common Shares				 Outstanding 16,794,641 16,457,197 16,682,474 16,318,551 Basic and Diluted								 Earnings per	 Weighted Average	 Share of Common Stock $0.16 $0.15 $1.29 $1.17 	Empire supplies electric service to a 10,000 square-mile area in southwest Missouri, southeast Kansas, northeast Oklahoma and northwest Arkansas. The Company also provides water service in three incorporated communities in Missouri.