News Release

July 5, 2001

Fortune Ranks PNM as Best U.S. Company for Hispanic Employees

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Albuquerque: PNM, Public Service Co. of New Mexico, is the best U.S. company for Hispanic employees, according to a ranking released this week by Fortune.

PNM also ranked 20th on the magazine's list of the 50 best U.S. companies for minority employees overall. This is the third year in a row PNM has rated high in the magazine's annual diversity rankings, and PNM continues to be the only New Mexico-headquartered company to make the Top 50 list. The ranking runs in Fortune's July 9 issue.

"Diversity is clearly one of our strengths," said Jeff Sterba, PNM chairman, president and CEO. "We make better decisions - and benefit the company, its customers, and its shareholders - when we have a diversity of viewpoints and experiences to draw from."

"PNM is proud of this recognition, and we believe this is something all of New Mexico can be proud of as well," Sterba said.

Best U.S. Companies for Hispanic Employees

1. PNM
2. Dole Food
3. Southern California Edison
4. BellSouth
5. McDonald's

The Fortune ranking, conducted by the Center for Responsibility in Business, evaluated companies responding to a survey on 15 different quantitative and qualitative measurements, from how well minorities are paid and how many are in management to the suppliers chosen by a company and the charities a company supports.