CORRECTING and REPLACING Bankruptcy Hearing Scheduled for Westar Financial on June 7; For...

Business Editors

CORRECTION...By Westar Financial Services

TACOMA & SEATTLE, Wash.--(BUSINESS WIRE)--April 28, 2004

In BW5830 issued April 28, 2004: First graph, first sentence of release should read: Westar Financial Services, Inc. (Pink Sheets:WSFIQ) (sted Westar

The corrected release reads:

BANKRUPTCY HEARING SCHEDULED FOR WESTAR FINANCIAL ON JUNE 7; FOR APPROVAL OF DISCLOSURE STATEMENT IN SUPPORT OF PLAN OF LIQUIDATION

Westar Financial Services, Inc. (Pink Sheets:WSFIQ), Chapter 11 debtor in possession, has noted a motion with the United States Bankruptcy Court for the Western District of Washington for approval of its Disclosure Statement in support of its Plan of Liquidation. Hearing on the motion is scheduled as follows:

Location:       Tacoma, Washington
Date:           June 7, 2004, 9:30 a.m.
Response Date:  May 24, 2004
Address:        United States Bankruptcy Court,
                Courtroom I, 1717 Pacific Avenue,
                Tacoma, Washington

The Disclosure Statement may be viewed in the Office of the Clerk of the Bankruptcy Court in Tacoma during business hours. Copies of the Disclosure Statement, the Notice of the Hearing, and subsequent notices can be viewed at www.stockvalues.com/clients/westar.htm. Parties may request a copy of the Disclosure Statement from Bush Strout & Kornfeld at 601 Union St. Suite 5500, Seattle, WA 98101 or at 206-292-2110.

Any party opposing approval of the proposed Disclosure Statement must make a written objection, file the objection with the Clerk of the Bankruptcy Court, and provide a copy of it to Bush Strout & Kornfeld no later than May 24, 2004.

If any objections are received, a meeting will be held on Tuesday, May 25, 2004, at 10:00 a.m. at the offices of Bush Strout & Kornfeld. The purpose of the meeting will be to attempt to resolve objections to the Disclosure Statement prior to the hearing. Parties filing written objections must attend this meeting, either in person or through counsel.

Should the court approve the Disclosure Statement, copies of it and the proposed Plan of Liquidation will be mailed to all interested parties, including shareholders of record on or about June 14, 2004. Shareholders will vote on the Plan of Liquidation. If the Bankruptcy Court confirms the Plan of Liquidation, trading of Westar's shares will be suspended. Shareholders of record on the date of suspension will receive treatment pursuant to the terms of the proposed Plan of Liquidation.