UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q/A
AMENDMENT NO. 1 TO

[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the quarterly period ended March 31, 1999

or

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from ______ to _______

               Name of Registrant, State of
Commission     Incorporation, Address of Principal              IRS Employer
File Number    Executive Offices and Telephone Number      Identification Number
-----------    --------------------------------------      ---------------------
1-9894         ALLIANT ENERGY CORPORATION                       39-1380265
               (a Wisconsin corporation)
               222 West Washington Avenue
               Madison, Wisconsin  53703
               Telephone (608)252-3311

0-4117-1       IES UTILITIES INC.                               42-0331370
               (an Iowa corporation)
               Alliant Tower
               Cedar Rapids, Iowa  52401
               Telephone (319)398-4411

0-337          WISCONSIN POWER AND LIGHT COMPANY                39-0714890
               (a Wisconsin corporation)
               222 West Washington Avenue
               Madison, Wisconsin  53703
               Telephone (608)252-3311

               Interstate Energy Corporation
               (Former name of Alliant Energy Corporation)

Indicate by check mark whether the registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrants were required to file such reports), and (2) have been subject to such filing requirements for the past (90) days. Yes X No _____

This combined Form 10-Q/A is separately filed by Alliant Energy Corporation, IES Utilities Inc. and Wisconsin Power and Light Company. Information contained herein relating to any individual registrant is filed by such registrant on its own behalf. Each registrant makes no representation as to information relating to the other registrants.

Number of shares outstanding of each class of common stock as of April 30, 1999:

Alliant Energy Corporation Common stock, $.01 par value, 78,116,598 shares outstanding

IES Utilities Inc. Common stock, $2.50 par value, 13,370,788 shares outstanding (all of which are owned beneficially and of record by Interstate Energy Corporation)

Wisconsin Power and Light Company Common stock, $5 par value, 13,236,601 shares outstanding (all of which are owned beneficially and of record by Interstate Energy Corporation)


The undersigned registrants hereby amend Item 1 of their combined Quarterly Report on Form 10-Q for the three months ended March 31, 1999 to provide in its entirety as follows:

2

DEFINITIONS

Certain abbreviations or acronyms used in the text and notes of this combined Form 10-Q/A are defined below:

Abbreviation or Acronym     Definition
-----------------------     ----------
Corporate Services          Alliant Energy Corporate Services, Inc.
IEC                         Interstate Energy Corporation
IESU                        IES Utilities Inc.
IPC                         Interstate Power Company
McLeod                      McLeodUSA Incorporated
Resources                   Alliant Energy Resources, Inc.
SEC                         Securities and Exchange Commission
WP&L                        Wisconsin Power and Light Company

3

PART I. FINANCIAL INFORMATION

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS

INTERSTATE ENERGY CORPORATION
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

                                           For the Three Months Ended March 31
                                               1999                    1998
--------------------------------------------------------------------------------
                                         (in thousands, except per share amounts
Operating revenues:
  Electric utility                          $ 351,338               $ 357,751
  Gas utility                                 133,684                 130,046
  Nonregulated and other                       61,833                  68,486
                                            ---------               ---------
                                              546,855                 556,283
                                            ---------               ---------
--------------------------------------------------------------------------------
Operating expenses:
  Electric and steam production fuels          65,404                  69,556
  Purchased power                              52,065                  56,147
  Cost of utility gas sold                     81,343                  77,280
  Other operation                             130,365                 157,352
  Maintenance                                  23,812                  25,259
  Depreciation and amortization                73,640                  69,832
  Taxes other than income taxes                27,239                  26,977
                                            ---------               ---------
                                              453,868                 482,403
                                            ---------               ---------
--------------------------------------------------------------------------------

Operating income                               92,987                  73,880
                                            ---------               ---------
--------------------------------------------------------------------------------
Interest expense and other:
  Interest expense                             33,400                  30,924
  Allowance for funds used during
    construction                               (1,934)                 (1,503)
  Preferred dividend requirements
    of subsidiaries                             1,676                   1,674
  Miscellaneous, net                           (6,771)                 (3,877)
                                            ---------               ---------
                                               26,371                  27,218
                                            ---------               ---------
--------------------------------------------------------------------------------
Income before income taxes                     66,616                  46,662
                                            ---------               ---------
--------------------------------------------------------------------------------

Income taxes                                   24,872                  17,787
                                            ---------               ---------
--------------------------------------------------------------------------------

Net income                                  $  41,744               $  28,875
                                            =========               =========
--------------------------------------------------------------------------------

Average number of common shares
 outstanding                                   77,780                  76,579
                                            =========               =========
--------------------------------------------------------------------------------

Earnings per average common share
 (basic and diluted)                        $    0.54               $    0.38
                                            =========               =========
--------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

4

INTERSTATE ENERGY CORPORATION
CONSOLIDATED BALANCE SHEETS

                                                March 31,
                                                   1999            December 31,
ASSETS                                         (Unaudited)             1998
--------------------------------------------------------------------------------
                                                        (in thousands)
Property, plant and equipment:
  Utility -
    Plant in service -
      Electric                                $ 4,884,916         $ 4,866,152
      Gas                                         517,775             515,074
      Other                                       409,844             409,711
                                              ------------   -----------------
                                                5,812,535           5,790,937
    Less - Accumulated depreciation             2,917,085           2,852,605
                                              ------------   -----------------
                                                2,895,450           2,938,332
    Construction work in progress                 133,054             119,032
    Nuclear fuel, net of amortization              40,709              44,316
                                              ------------   -----------------
                                                3,069,213           3,101,680
  Other property, plant and equipment,
    net of accumulated depreciation and
    amortization of $189,289 and
    $178,248, respectively                        354,075             355,100
                                              ------------   -----------------
                                                3,423,288           3,456,780
                                              ------------   -----------------
------------------------------------------------------------------------------
Current assets:
  Cash and temporary cash investments              54,183              31,827
  Accounts receivable:
    Customer, less allowance for doubtfu
      accounts of $2,594 and $2,518,
      respectively                                 96,973             102,966
    Other, less allowance for doubtful
      accounts of $499 and $490, respectively      22,273              26,054
  Notes receivable, less allowance for
    doubtful accounts of $117 and $120,
    respectively                                    9,433              13,392
  Production fuel, at average cost                 44,397              54,140
  Materials and supplies, at average cost          55,025              53,490
  Gas stored underground, at average cost          12,489              26,013
  Regulatory assets                                26,628              30,796
  Prepaid gross receipts tax                       16,882              22,222
  Other                                            24,316              30,767
                                              ------------   -----------------
                                                  362,599             391,667
                                              ------------   -----------------
------------------------------------------------------------------------------
Investments:
  Investment in McLeodUSA Inc.                    431,255             320,280
  Nuclear decommissioning trust funds             245,024             225,803
  Investment in foreign entities                  119,124              68,882
  Other                                            52,619              54,776
                                              ------------   -----------------
                                                  848,022             669,741
                                              ------------   -----------------
------------------------------------------------------------------------------
Other assets:
  Regulatory assets                               278,147             284,467
  Deferred charges and other                      159,066             156,682
                                              ------------   -----------------
                                                  437,213             441,149
                                              ------------   -----------------
------------------------------------------------------------------------------
Total assets                                  $ 5,071,122         $ 4,959,337
                                              ============   =================
------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

5

INTERSTATE ENERGY CORPORATION
CONSOLIDATED BALANCE SHEETS (CONTINUED)

                                                                                     March 31,
                                                                                        1999             December 31,
CAPITALIZATION AND LIABILITIES                                                      (Unaudited)              1998
------------------------------------------------------------------------------------------------------------------------
                                                                                  (in thousands, except share amounts)
Capitalization:
  Common stock - $.01 par value - authorized 200,000,000 shares;
    outstanding 77,935,693 and 77,630,043 shares, respectively                     $           779      $           776
  Additional paid-in capital                                                               913,728              905,130
  Retained earnings                                                                        540,282              537,372
  Accumulated other comprehensive income                                                   237,434              163,017
                                                                                  -----------------    -----------------
    Total common equity                                                                  1,692,223            1,606,295
                                                                                  -----------------    -----------------

  Cumulative preferred stock of subsidiaries:
   Par/Stated       Authorized        Shares                         Mandatory
      Value           Shares        Outstanding       Series        Redemption
      -----           ------        -----------       ------        ----------
      $ 100              *            449,765      4.40% - 6.20%        No                  44,977               44,977
      $  25              *            599,460          6.50%            No                  14,986               14,986
      $  50           466,406         366,406      4.30% - 6.10%        No                  18,320               18,320
      $  50             **            216,381      4.36% - 7.76%        No                  10,819               10,819
      $  50             **            545,000          6.40%           Yes ***              27,250               27,250
                                                                                  -----------------    -----------------
                                                                                           116,352              116,352
    Less:  unamortized expenses                                                             (2,819)              (2,854)
                                                                                  -----------------    -----------------
      Total cumulative preferred stock of subsidiaries                                     113,533              113,498
                                                                                  -----------------    -----------------

  Long-term debt (excluding current portion)                                             1,545,251            1,543,131
                                                                                  -----------------    -----------------
                                                                                         3,351,007            3,262,924
                                                                                  -----------------    -----------------
* 3,750,000  authorized  shares in total  between  the two classes
**  2,000,000 authorized  shares  in  total  between  the two  classes
***  $53.20  mandatory redemption price
------------------------------------------------------------------------------------------------------------------------
Current liabilities:
  Current maturities and sinking funds                                                      54,084               63,414
  Variable rate demand bonds                                                                56,975               56,975
  Commercial paper                                                                          64,000               64,500
  Notes payable                                                                             50,027               51,784
  Capital lease obligations                                                                 12,146               11,978
  Accounts payable                                                                         163,589              204,297
  Accrued taxes                                                                            106,845               84,921
  Other                                                                                    113,414              111,685
                                                                                  -----------------    -----------------
                                                                                           621,080              649,554
                                                                                  -----------------    -----------------
------------------------------------------------------------------------------------------------------------------------
Other long-term liabilities and deferred credits:
  Accumulated deferred income taxes                                                        738,168              691,624
  Accumulated deferred investment tax credits                                               75,949               77,313
  Environmental liabilities                                                                 68,192               68,399
  Customer advances                                                                         35,964               37,171
  Capital lease obligations                                                                 11,499               13,755
  Other                                                                                    169,263              158,597
                                                                                  -----------------    -----------------
                                                                                         1,099,035            1,046,859
                                                                                  -----------------    -----------------
------------------------------------------------------------------------------------------------------------------------
Total capitalization and liabilities                                                   $ 5,071,122          $ 4,959,337
                                                                                  =================    =================
------------------------------------------------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part
of these statements.

6

INTERSTATE ENERGY CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

                                                                 For the Three Months Ended March 31,
                                                                       1999                1998
-----------------------------------------------------------------------------------------------------
                                                                           (in thousands)
Cash flows from operating activities:
  Net income                                                            $ 41,744            $ 28,875
  Adjustments to reconcile net income to net cash flows
   from  operating activities:
    Depreciation and amortization                                         73,640              69,832
    Amortization of nuclear fuel                                           5,024               5,437
    Amortization of deferred energy efficiency expenditures                7,930               8,240
    Deferred taxes and investment tax credits                             (1,799)            (13,424)
    Refueling outage provision                                             2,415               1,299
    Impairment of oil and gas properties                                       -               6,746
    Other                                                                 (2,070)              1,197
  Other changes in assets and liabilities:
    Accounts receivable                                                    9,774              20,221
    Notes receivable                                                       3,959               2,091
    Production fuel                                                        9,743               7,289
    Materials and supplies                                                (1,535)             (1,543)
    Gas stored underground                                                13,524              21,544
    Prepaid gross receipts tax                                             5,340               4,912
    Accounts payable                                                     (40,708)            (23,964)
    Accrued taxes                                                         21,924              29,699
    Adjustment clause balances                                             9,168              14,220
    Benefit obligations and other                                         12,079                (398)
                                                                -----------------   -----------------
       Net cash flows from operating activities                          170,152             182,273
                                                                -----------------   -----------------
-----------------------------------------------------------------------------------------------------
Cash flows used for financing activities:
    Common stock dividends declared                                      (38,834)            (36,580)
    Proceeds from issuance of common stock                                 8,538               2,828
    Net change in Alliant Energy Resources, Inc. credit facility          42,995              29,562
    Proceeds from issuance of other long-term debt                        11,994                  41
    Reductions in other long-term debt                                   (62,310)             (1,013)
    Net change in short-term borrowings                                   (2,257)            (67,676)
    Principal payments under capital lease obligations                    (3,369)             (4,106)
    Other                                                                    113                (423)
                                                                -----------------   -----------------
        Net cash flows used for financing activities                     (43,130)            (77,367)
                                                                -----------------   -----------------
-----------------------------------------------------------------------------------------------------
Cashflows used for investing activities:
    Construction and acquisition expenditures:
       Utility                                                           (41,638)            (39,160)
       Nonregulated businesses                                           (49,198)            (22,554)
    Nuclear decommissioning trust funds                                  (15,437)            (13,642)
    Shared savings expenditures                                           (4,247)             (1,808)
    Other                                                                  5,854               7,032
                                                                -----------------   -----------------
       Net cash flows used for investing activities                     (104,666)            (70,132)
                                                                -----------------   -----------------
-----------------------------------------------------------------------------------------------------
Net increase in cash and temporary cash investments                       22,356              34,774
                                                                -----------------   -----------------
-----------------------------------------------------------------------------------------------------
Cash and temporary cash investments at beginning of period                31,827              27,329
                                                                -----------------   -----------------
-----------------------------------------------------------------------------------------------------
                                                                -----------------   -----------------
Cash and temporary cash investments at end of period                    $ 54,183            $ 62,103
                                                                =================   =================
-----------------------------------------------------------------------------------------------------
Supplemental cash flow information:
    Cash paid during the period for:
       Interest                                                         $ 31,952            $ 32,237
                                                                =================   =================
       Income taxes                                                      $ 4,600            $ 11,892
                                                                =================   =================
    Noncash investing and financing activities:
       Capital lease obligations incurred                                $ 1,414             $ 1,039
                                                                =================   =================
-----------------------------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part
of these statements.

7

INTERSTATE ENERGY CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

1. The interim consolidated financial statements included herein have been prepared by IEC, without audit, pursuant to the rules and regulations of the SEC. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. The consolidated financial statements include IEC and its consolidated subsidiaries (WP&L, IESU, IPC, Resources and Corporate Services). These financial statements should be read in conjunction with the financial statements and the notes thereto included in IEC's, IESU's and WP&L's latest Annual Report on Form 10-K.

In the opinion of management, all adjustments, which are normal and recurring in nature, necessary for a fair presentation of (a) the consolidated results of operations for the three months ended March 31, 1999 and 1998, (b) the consolidated financial position at March 31, 1999 and December 31, 1998, and (c) the consolidated statement of cash flows for the three months ended March 31, 1999 and 1998, have been made. Because of the seasonal nature of IESU's, WP&L's and IPC's operations, results for the three months ended March 31, 1999 are not necessarily indicative of results that may be expected for the year ending December 31, 1999. Certain prior period amounts have been reclassified on a basis consistent with the 1999 presentation.

2. IEC's comprehensive income, and the components of other comprehensive income (loss), net of taxes, were as follows (in thousands):

                                                                        For the Three Months
                                                                           Ended March 31,
                                                                       1999              1998
                                                                   --------------   ---------------
            Net income                                                 $  41,744         $  28,875

               Other comprehensive income (loss):
                 Unrealized gain on securities, net of tax (1)
                                                                          75,031            61,829
                 Foreign currency translation adjustments
                                                                           (614)                55
                                                                   --------------   ---------------
                   Other comprehensive income                             74,417
                                                                                            61,884

                                                                   --------------   ---------------
            Comprehensive income                                       $ 116,161         $  90,759
                                                                   ==============   ===============

(1)    Primarily due to the  adjustment to the estimated fair value each quarter
       of IEC's investment in McLeod.

IESU and WP&L had no comprehensive income in the periods presented.

8

3. Certain financial information relating to IEC's significant business segments is presented below:

                                   Regulated Domestic Utilities           Nonregulated                 IEC
                            -------------------------------------------
                             Electric     Gas      Other      Total        Businesses     Other   Consolidated
                            ------------------------------------------------------------------------------------
                                                               (in thousands)
Three Months Ended
March 31, 1999
--------------
Operating revenues           $351,338   $133,684    $9,204    $494,226          $53,199     ($570)     $546,855
Operating income (loss)        68,615     23,939     2,354      94,908           (1,836)      (85)       92,987
Net income (loss)                                               44,767           (1,906)   (1,117)       41,744

Three Months Ended
March 31, 1998
--------------
Operating revenues           $357,751   $130,046    $8,409    $496,206          $60,322     ($245)     $556,283
Operating income (loss)        55,837     22,376     1,831      80,044           (5,499)     (665)       73,880
Net income (loss)                                               33,177           (3,999)     (303)       28,875

Resources' (i.e. the nonregulated businesses) assets increased $150 million during the first quarter of 1999, primarily due to the increase in market value of its investment in McLeod and additional investments in foreign entities. Intersegment revenues were not material to IEC's operations and there was no single customer whose revenues exceeded 10% or more of IEC's consolidated revenues.

4. The provisions for income taxes are based on the estimated annual effective tax rate, which differs from the federal statutory rate of 35% principally due to: state income taxes, tax credits, effects of utility rate making and certain nondeductible expenses.

5. At March 31, 1999, IEC had $119.1 million of investments in foreign entities on its Consolidated Balance Sheets that included: (a) investments in several New Zealand utility entities; (b) investments in several generation facilities in China; and (c) an investment in an international venture capital fund. IEC accounts for the China investments under the equity method and the other investments under the cost method. The geographic concentration of IEC's investments in foreign entities at March 31, 1999, included investments of approximately $85.7 million in New Zealand, $32.9 million in China and $0.5 million in other countries.

6. In October 1998, the Board of Directors of IEC adopted a new Shareowner Rights Plan (new plan) to replace IEC's former plan that expired on February 22, 1999. The new plan was approved on January 15, 1999 by the SEC. On January 20, 1999, the Board of Directors declared a dividend of one common share purchase right (right) on each outstanding share of IEC's common stock which was issued on February 22, 1999 to coincide with the expiration of the former plan. Rights under the new plan will be exercisable only if a person or group acquires, or announces a tender offer to acquire, 15% or more of IEC's common stock. Each right will initially entitle shareowners to buy one-half of one share of IEC's common stock. The rights will only be exercisable in multiples of two at an initial price of $95.00 per full share, subject to adjustment. If any shareowner acquires 15% or more of the outstanding common stock of IEC, each right (subject to limitations) will entitle its holder to purchase, at the right's then current exercise price, a number of common shares of IEC or of the acquirer having a market value at the time of twice the right's per full share exercise price. The Board of Directors is also authorized to reduce the 15% thresholds to not less than 10%.

9

7.     Summary   financial   information   for  Resources  was  as  follows  (in
       thousands):

                                          March 31,
                                            1999
                                         ------------
       Current assets                      $84,950
       Non-current assets                  934,393
       Current liabilities                  40,468
       Non-current liabilities
         (excludes minority interest)      208,785
       Minority interest                     6,162

Refer to the "Nonregulated Businesses" column of Note 3 for summary income statement data of Resources.

8. At the Annual Shareowners meeting on May 19, 1999, the shareowners approved a proposal to change the name of the corporation from Interstate Energy Corporation to Alliant Energy Corporation. The name change was effective May 20, 1999.

10

IES UTILITIES INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

                                            For the Three Months Ended March 31,
                                                 1999                  1998
-------------------------------------------------------------------------------
                                                       (in thousands)
Operating revenues:
  Electric utility                              $ 140,017           $ 140,649
  Gas utility                                      61,296              60,395
  Steam and other                                   7,952               7,234
                                                ---------           ---------
                                                  209,265             208,278
                                                ---------           ---------
-----------------------------------------------------------------------------
Operating expenses:
  Electric and steam production fuels              26,589              30,649
  Purchased power                                  13,150              11,049
  Cost of gas sold                                 37,912              37,657
  Other operation                                  47,439              47,002
  Maintenance                                       9,904              10,991
  Depreciation and amortization                    25,482              24,335
  Taxes other than income taxes                    12,616              12,306
                                                ---------           ---------
                                                  173,092             173,989
                                                ---------           ---------
-----------------------------------------------------------------------------

Operating income                                   36,173              34,289
                                                ---------           ---------
-----------------------------------------------------------------------------

Interest expense and other:
Interest expense                                   13,204              13,075
  Allowance for funds used during
   construction                                      (849)               (765)
  Miscellaneous, net                                 (857)                279
                                                ---------           ---------
                                                   11,498              12,589
                                                ---------           ---------
-----------------------------------------------------------------------------

Income before income taxes                         24,675              21,700
                                                ---------           ---------
-----------------------------------------------------------------------------

Income taxes                                       10,216              10,040
                                                ---------           ---------
-----------------------------------------------------------------------------

Net income                                         14,459              11,660
                                                ---------           ---------
-----------------------------------------------------------------------------

Preferred dividend requirements                       229                 229
                                                ---------           ---------
-----------------------------------------------------------------------------

Earnings available for common stock             $  14,230           $  11,431
                                                =========           =========
-----------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

11

IES UTILITIES INC.
CONSOLIDATED BALANCE SHEETS

                                               March 31,
                                                  1999            December 31,
ASSETS                                         (Unaudited)             1998
--------------------------------------------------------------------------------
                                                          (in thousands)
Property, plant and equipment:
  Utility -
    Plant in service -
      Electric                                  $ 2,148,059       $ 2,140,322
      Gas                                           199,209           198,488
      Steam                                          55,794            55,797
      Common                                        106,732           106,940
                                               -------------   ---------------
                                                  2,509,794         2,501,547
    Less - Accumulated depreciation               1,237,623         1,209,204
                                               -------------   ---------------
                                                  1,272,171         1,292,343
    Construction work in progress                    57,141            48,991
    Leased nuclear fuel, net of
     amortization                                    23,559            25,644
                                               -------------   ---------------
                                                  1,352,871         1,366,978
  Other property, plant and equipment,
    net of accumulated depreciation and
    amortization of $1,984 and $1,948,
    respectively                                      5,586             5,623
                                               -------------   ---------------
                                                  1,358,457         1,372,601
                                               -------------   ---------------
------------------------------------------------------------------------------
Current assets:
  Cash and temporary cash investments                   585             4,175
  Temporary cash investments with
     associated companies                                 -            53,729
  Accounts receivable:
    Customer, less allowance for doubtful
      accounts of $1,056 and $1,058,
      respectively                                   17,543            16,703
    Associated companies                              2,466             2,662
    Other, less allowance for doubtful
      accounts of $363 and $357,
      respectively                                   10,158            10,346
  Production fuel, at average cost                   13,306            11,863
  Materials and supplies, at average cost            25,972            25,591
  Gas stored underground, at average cost             5,887            12,284
  Regulatory assets                                  19,324            23,487
  Prepayments and other                               3,879             4,185
                                               -------------   ---------------
                                                     99,120           165,025
                                               -------------   ---------------
------------------------------------------------------------------------------
Investments:
  Nuclear decommissioning trust funds                95,398            91,691
  Other                                               6,236             6,019
                                               -------------   ---------------
                                                    101,634            97,710
                                               -------------   ---------------
------------------------------------------------------------------------------
Other assets:
  Regulatory assets                                 133,491           137,908
  Deferred charges and other                         15,201            15,734
                                               -------------   ---------------
                                                    148,692           153,642
                                               -------------   ---------------
------------------------------------------------------------------------------
Total assets                                    $ 1,707,903       $ 1,788,978
                                               =============   ===============
------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

12

IES UTILITIES INC.
CONSOLIDATED BALANCE SHEETS (CONTINUED)

                                                                                March 31,
                                                                                  1999               December 31,
CAPITALIZATION AND LIABILITIES                                                 (Unaudited)               1998
--------------------------------------------------------------------------------------------------------------------
                                                                             (in thousands, except share amounts)
Capitalization:
  Common stock - $2.50 par value - authorized 24,000,000
    shares; 13,370,788 shares outstanding                                         $    33,427           $    33,427
  Additional paid-in capital                                                          279,042               279,042
  Retained earnings                                                                   245,626               275,372
                                                                            ------------------     -----------------
    Total common equity                                                               558,095               587,841
  Cumulative preferred stock, not mandatorily redeemable -
    $50 par value - authorized 466,406 shares; 366,406 shares outstanding              18,320                18,320
  Long-term debt (excluding current portion)                                          551,086               602,020
                                                                            ------------------     -----------------
                                                                                    1,127,501             1,208,181
                                                                            ------------------     -----------------
--------------------------------------------------------------------------------------------------------------------
Current liabilities:
  Current maturities and sinking funds                                                 51,140                50,140
  Capital lease obligations                                                            12,132                11,965
  Notes payable to associated companies                                                 9,694                     -
  Accounts payable                                                                     30,117                43,953
  Accounts payable to associated companies                                             13,930                22,487
  Accrued payroll and vacations                                                         9,311                 6,365
  Accrued interest                                                                     10,082                12,045
  Accrued taxes                                                                        64,480                55,295
  Accumulated refueling outage provision                                                9,020                 6,605
  Environmental liabilities                                                             5,660                 5,660
  Other                                                                                16,928                17,617
                                                                            ------------------     -----------------
                                                                                      232,494               232,132
                                                                            ------------------     -----------------
--------------------------------------------------------------------------------------------------------------------
Other long-term liabilities and deferred credits:
  Accumulated deferred income taxes                                                   224,893               224,510
  Accumulated deferred investment tax credits                                          28,603                29,243
  Environmental liabilities                                                            29,027                29,195
  Pension and other benefit obligations                                                27,283                25,655
  Capital lease obligations                                                            11,427                13,679
  Other                                                                                26,675                26,383
                                                                            ------------------     -----------------
                                                                                      347,908               348,665
                                                                            ------------------     -----------------
--------------------------------------------------------------------------------------------------------------------
Total capitalization and liabilities                                              $ 1,707,903           $ 1,788,978
                                                                            ==================     =================
--------------------------------------------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part
of these statements.

13

IES UTILITIES INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

                                                                                     For the Three Months Ended March 31,
                                                                                          1999                1998
-------------------------------------------------------------------------------------------------------------------------
                                                                                                   (in thousands)
Cash flows from operating activities:
  Net income                                                                         $    14,459         $    11,660
  Adjustments to reconcile net income to net cash
   flows from operating activities:
     Depreciation and amortization                                                        25,482              24,335
     Amortization of leased nuclear fuel                                                   3,499               4,010
     Amortization of deferred energy efficiency expenditures                               6,064               6,070
     Deferred taxes and investment tax credits                                              (473)             (8,822)
     Refueling outage provision                                                            2,415               1,299
     Other                                                                                   146                 319
  Other changes in assets and liabilities:
     Accounts receivable                                                                    (456)              2,796
     Production fuel                                                                      (1,443)                197
     Materials and supplies                                                                 (381)             (1,249)
     Gas stored underground                                                                6,397              10,509
     Accounts payable                                                                    (22,393)            (12,292)
     Accrued taxes                                                                         9,185              13,262
     Adjustment clause balances                                                            4,809               9,466
     Benefit obligations and other                                                         5,776               5,449
                                                                                   ------------------   -----------------
       Net cash flows from operating activities                                           53,086              67,009
                                                                                   ------------------   -----------------
-------------------------------------------------------------------------------------------------------------------------
Cash flows used for financing activities:
    Common stock dividends declared                                                      (43,976)            (14,000)
    Dividends payable                                                                     (4,840)             14,000
    Preferred stock dividends                                                               (229)               (229)
    Reductions in long-term debt                                                         (50,000)                  -
    Net change in short-term borrowings                                                    9,694                   -
    Principal payments under capital lease obligations                                    (3,369)             (4,106)
    Other                                                                                     (3)                  -
                                                                                   ------------------  ------------------
      Net cash flows used for financing activities                                       (92,723)             (4,335)
                                                                                   ------------------  ------------------
-------------------------------------------------------------------------------------------------------------------------
Cash flows used for investing activities:
    Construction expenditures - utility                                                  (16,621)            (19,198)
    Nuclear decommissioning trust funds                                                   (1,502)             (1,502)
    Other                                                                                    441                  72
                                                                                   ------------------  ------------------
      Net cash flows used for investing activities                                       (17,682)            (20,628)
                                                                                   ------------------  ------------------
-------------------------------------------------------------------------------------------------------------------------
Net increase (decrease) in cash and temporary cash investments                           (57,319)             42,046
                                                                                   ------------------  ------------------
-------------------------------------------------------------------------------------------------------------------------
Cash and temporary cash investments at beginning of period                                57,904                 230
                                                                                   ------------------  ------------------
-------------------------------------------------------------------------------------------------------------------------
Cash and temporary cash investments at end of period                                 $       585         $    42,276
                                                                                   ==================  ==================
-------------------------------------------------------------------------------------------------------------------------
Supplemental cash flow information: Cash paid during the period for:
    Interest                                                                         $    13,989         $    12,378
                                                                                   ==================  ==================
    Income taxes                                                                     $     7,334         $    11,804
                                                                                   ==================  ==================
  Noncash investing and financing activities - Capital lease obligations incurred    $     1,414         $     1,039
                                                                                   ==================  ==================
-------------------------------------------------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part
of these statements.

14

IES UTILITIES INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Except as modified below, the IEC Notes to Consolidated Financial Statements are incorporated by reference insofar as they relate to IESU. IEC Notes 5 and 6 do not relate to IESU and, therefore, are not incorporated by reference.

1. The interim consolidated financial statements included herein have been prepared by IESU, without audit, pursuant to the rules and regulations of the SEC. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. The consolidated financial statements include IESU and its consolidated wholly-owned subsidiary, IES Ventures Inc. IESU is a subsidiary of IEC. These financial statements should be read in conjunction with the financial statements and the notes thereto included in IESU's latest Annual Report on Form 10-K.

In the opinion of management, all adjustments, which are normal and recurring in nature, necessary for a fair presentation of (a) the consolidated results of operations for the three months ended March 31, 1999 and 1998, (b) the consolidated financial position at March 31, 1999 and December 31, 1998, and (c) the consolidated statement of cash flows for the three months ended March 31, 1999 and 1998, have been made. Because of the seasonal nature of IESU's operations, results for the three months ended March 31, 1999 are not necessarily indicative of results that may be expected for the year ending December 31, 1999. Certain prior period amounts have been reclassified on a basis consistent with the 1999 presentation.

15

WISCONSIN POWER AND LIGHT COMPANY
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

                                            For the Three Months Ended March 31,
                                                1999                    1998
------------------------------------------------------------------------------
                                                       (in thousands)
Operating revenues:
  Electric utility                           $  149,944            $   151,310
  Gas utility                                    51,794                 50,318
  Water                                           1,252                  1,175
                                             ----------            -----------
                                                202,990                202,803
                                             ----------            -----------
------------------------------------------------------------------------------
Operating expenses:
  Electric production fuels                      27,366                 28,897
  Purchased power                                24,000                 28,602
  Cost of gas sold                               31,181                 30,714
  Other operation                                26,108                 34,003
  Maintenance                                     9,103                  9,967
  Depreciation and amortization                  31,139                 29,258
  Taxes other than income taxes                   7,702                  7,711
                                             ----------            -----------
                                                156,599                169,152
                                             ----------            -----------
------------------------------------------------------------------------------
Operating income                                 46,391                 33,651
                                             ----------            -----------
------------------------------------------------------------------------------
Interest expense and other:
  Interest expense                                9,865                  8,383
  Allowance for funds used during
     construction                                  (923)                  (656)
  Miscellaneous, net                             (4,344)                (1,867)
                                             ----------            -----------
                                                  4,598                  5,860
                                             ----------            -----------
------------------------------------------------------------------------------

Income before income taxes                       41,793                 27,791
                                             ----------            -----------
------------------------------------------------------------------------------

Income taxes                                     15,505                 10,193
                                             ----------            -----------
------------------------------------------------------------------------------

Net income                                       26,288                 17,598
                                             ----------            -----------
------------------------------------------------------------------------------

Preferred dividend requirements                     828                    828
                                             ----------            -----------
------------------------------------------------------------------------------

Earnings available for common stock          $   25,460            $    16,770
                                             ==========            ===========
------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

16

WISCONSIN POWER AND LIGHT COMPANY
CONSOLIDATED BALANCE SHEETS

                                                March 31,
                                                  1999             December 31,
ASSETS                                        (Unaudited)              1998
--------------------------------------------------------------------------------
                                                     (in thousands)
Property, plant and equipment:
  Utility -
    Plant in service -
      Electric                                 $ 1,847,950          $ 1,839,545
      Gas                                          246,188              244,518
      Water                                         26,584               26,567
      Common                                       219,715              219,268
                                             --------------    -----------------
                                                 2,340,437            2,329,898
    Less - Accumulated depreciation              1,199,761            1,168,830
                                             --------------    -----------------
                                                 1,140,676            1,161,068
    Construction work in progress                   63,950               56,994
    Nuclear fuel, net of amortization               17,151               18,671
                                             --------------    -----------------
                                                 1,221,777            1,236,733
  Other property, plant and equipment,
    net of accumulated depreciation and
    amortization of $44 for both years                 630                  630
                                             --------------    -----------------
                                                 1,222,407            1,237,363
                                             --------------    -----------------
--------------------------------------------------------------------------------
Current assets:
  Cash and temporary cash investments                9,496                1,811
  Accounts receivable:
    Customer                                         9,932               13,372
    Associated companies                             1,921                3,019
    Other                                            7,307                8,298
  Production fuel, at average cost                  14,851               20,105
  Materials and supplies, at average cost           21,117               20,025
  Gas stored underground, at average cost            5,924               10,738
  Regulatory assets                                  3,707                3,707
  Prepaid gross receipts tax                        16,882               22,222
  Other                                              1,413                6,987
                                             --------------    -----------------
                                                    92,550              110,284
                                             --------------    -----------------
--------------------------------------------------------------------------------
Investments:
  Nuclear decommissioning trust funds              149,627              134,112
  Other                                             15,476               15,960
                                             --------------    -----------------
                                                   165,103              150,072
                                             --------------    -----------------
--------------------------------------------------------------------------------
Other assets:
  Regulatory assets                                 74,788               76,284
  Deferred charges and other                       113,058              111,147
                                             --------------    -----------------
                                                   187,846              187,431
                                             --------------    -----------------
--------------------------------------------------------------------------------
Total assets                                   $ 1,667,906          $ 1,685,150
                                             ==============    =================
--------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

17

WISCONSIN POWER AND LIGHT COMPANY
CONSOLIDATED BALANCE SHEETS (CONTINUED)

                                                                     March 31,
                                                                        1999              December 31,
CAPITALIZATION AND LIABILITIES                                      (Unaudited)               1998
---------------------------------------------------------------------------------------------------------
                                                                   (in thousands, except share amounts)
Capitalization:
  Common stock - $5 par value - authorized 18,000,000
    shares; 13,236,601 shares outstanding                              $    66,183           $    66,183
  Additional paid-in capital                                               199,438               199,438
  Retained earnings                                                        305,181               294,309
                                                                  -----------------     -----------------
    Total common equity                                                    570,802               559,930
                                                                  -----------------     -----------------

  Cumulative preferred stock, not mandatorily redeemable
    without par value - authorized 3,750,000 shares, maximum
    aggregate stated value $150,000,000:
      $100 stated value - 449,765 shares outstanding                        44,977                44,977
      $25 stated value - 599,460 shares outstanding                         14,986                14,986
                                                                  -----------------     -----------------
        Total cumulative preferred stock                                    59,963                59,963
                                                                  -----------------     -----------------

  Long-term debt (excluding current portion)                               414,603               414,579
                                                                  -----------------     -----------------
                                                                         1,045,368             1,034,472
                                                                  -----------------     -----------------
---------------------------------------------------------------------------------------------------------
Current liabilities:
  Variable rate demand bonds                                                56,975                56,975
  Notes payable                                                             50,000                50,000
  Notes payable to associated companies                                      1,102                26,799
  Accounts payable                                                          70,884                84,754
  Accounts payable to associated companies                                  16,468                20,315
  Accrued payroll and vacations                                              5,052                 5,276
  Accrued interest                                                           8,093                 6,863
  Accrued taxes                                                             16,502                   740
  Other                                                                     10,197                13,860
                                                                  -----------------     -----------------
                                                                           235,273               265,582
                                                                  -----------------     -----------------
---------------------------------------------------------------------------------------------------------
Other long-term liabilities and deferred credits:
  Accumulated deferred income taxes                                        243,750               245,489
  Accumulated deferred investment tax credits                               32,705                33,170
  Customer advances                                                         33,253                34,367
  Environmental liabilities                                                 11,644                11,683
  Other                                                                     65,913                60,387
                                                                  -----------------     -----------------
                                                                           387,265               385,096
                                                                  -----------------     -----------------
---------------------------------------------------------------------------------------------------------
Total capitalization and liabilities                                   $ 1,667,906           $ 1,685,150
                                                                  =================     =================
---------------------------------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part
of these statements.

18

WISCONSIN POWER AND LIGHT COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

                                                                             For the Three Months Ended March 31,
                                                                                  1999                   1998
-------------------------------------------------------------------------------------------------------------------
                                                                                     (in thousands)
Cash flows from operating activities:
  Net income                                                                 $   26,288             $   17,598
  Adjustments to reconcile net income to net cash
   flows from operating activities:
     Depreciation and amortization                                               31,139                 29,258
     Amortization of nuclear fuel                                                 1,525                  1,427
     Deferred taxes and investment tax credits                                   (1,578)                (1,607)
     Other                                                                       (1,617)                  (457)
  Other changes in assets and liabilities:
     Accounts receivable                                                          5,529                 15,460
     Production fuel                                                              5,254                  4,889
     Materials and supplies                                                      (1,092)                   (32)
     Gas stored underground                                                       4,814                  8,768
     Prepaid gross receipts tax                                                   5,340                  4,912
     Accounts payable                                                           (17,717)                (3,302)
     Accrued taxes                                                               15,762                 10,396
     Adjustment clause balances                                                   7,157                  3,691
     Benefit obligations and other                                                2,814                   (361)
                                                                   ---------------------  ---------------------
       Net cash flows from operating activities                                  83,618                 90,640
                                                                   ---------------------  ---------------------
---------------------------------------------------------------------------------------------------------------
Cash flows used for financing activities:
    Common stock dividends                                                      (14,588)               (14,586)
    Preferred stock dividends                                                      (828)                  (828)
    Net change in short-term borrowings                                         (25,697)               (42,500)
                                                                   ---------------------  ---------------------
      Net cash flows used for financing activities                              (41,113)               (57,914)
                                                                   ---------------------  ---------------------
---------------------------------------------------------------------------------------------------------------
Cash flows used for investing activities:
    Construction expenditures - utility                                         (18,967)               (15,584)
    Nuclear decommissioning trust funds                                         (13,935)               (12,140)
    Shared savings expenditures                                                  (2,519)                (1,808)
    Other                                                                           601                    477
                                                                   ---------------------  ---------------------
      Net cash flows used for investing activities                              (34,820)               (29,055)
                                                                   ---------------------  ---------------------
---------------------------------------------------------------------------------------------------------------
Net increase in cash and temporary cash investments                               7,685                  3,671
                                                                   ---------------------  ---------------------
---------------------------------------------------------------------------------------------------------------
Cash and temporary cash investments at beginning of period                        1,811                  2,492
                                                                   ---------------------  ---------------------
---------------------------------------------------------------------------------------------------------------
Cash and temporary cash investments at end of period                            $ 9,496                $ 6,163
                                                                   =====================  =====================
---------------------------------------------------------------------------------------------------------------
Supplemental cash flow information:
  Cash paid (refunded) during the period for:
    Interest                                                                    $ 8,468                $ 8,150
                                                                   =====================  =====================
    Income taxes                                                                 $ (357)               $ 1,668
                                                                   =====================  =====================
---------------------------------------------------------------------------------------------------------------

The accompanying Notes to Consolidated Financial Statements are an integral part
of these statements.

19

WISCONSIN POWER AND LIGHT COMPANY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Except as modified below, the IEC Notes to Consolidated Financial Statements are incorporated by reference insofar as they relate to WP&L. IEC Notes 5 and 6 do not relate to WP&L and, therefore, are not incorporated by reference.

1. The interim consolidated financial statements included herein have been prepared by WP&L, without audit, pursuant to the rules and regulations of the SEC. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted, although management believes that the disclosures are adequate to make the information presented not misleading. The consolidated financial statements include WP&L and its consolidated subsidiary. WP&L is a subsidiary of IEC. These financial statements should be read in conjunction with the financial statements and the notes thereto included in WP&L's latest Annual Report on Form 10-K.

In the opinion of management, all adjustments, which are normal and recurring in nature, necessary for a fair presentation of (a) the consolidated results of operations for the three months ended March 31, 1999 and 1998, (b) the consolidated financial position at March 31, 1999 and December 31, 1998, and (c) the consolidated statement of cash flows for the three months ended March 31, 1999 and 1998, have been made. Because of the seasonal nature of WP&L's operations, results for the three months ended March 31, 1999 are not necessarily indicative of results that may be expected for the year ending December 31, 1999. Certain prior period amounts have been reclassified on a basis consistent with the 1999 presentation.

20

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, Alliant Energy Corporation, IES Utilities Inc. and Wisconsin Power and Light Company have each duly caused this amendment to be signed on its behalf by the undersigned thereunto duly authorized on the 1st day of November 1999.

ALLIANT ENERGY CORPORATION
Registrant

By: /s/ John E. Ebright                   Vice President-Controller
John E. Ebright                              (Principal Accounting Officer)

IES UTILITIES INC.
Registrant

By: /s/ John E. Ebright                   Vice President-Controller
John E. Ebright                              (Principal Accounting Officer)

WISCONSIN POWER AND LIGHT COMPANY
Registrant

By: /s/ John E. Ebright                   Vice President-Controller
John E. Ebright                               (Principal Accounting Officer)

21