News Release

March 3, 2003

PNM's Deborah O'Callaghan Named Top Engineer

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Albuquerque: PNM's Deborah O'Callaghan was named "Engineer of the Year" by the Albuquerque Chapter of New Mexico Society of Professional Engineers.

O'Callaghan, director of North Central Operations for PNM, oversees gas and electric operations for Santa Fe, Taos, Espanola and Las Vegas and manages a staff of more than 150 with an annual budget of about $7.6 million. She has been with PNM for 16 years, during which time she has worked for the Gas Service Center in Albuquerque, Gas Engineering and New Service Delivery.

"Debbie's personal commitment to customer satisfaction and safety help set the standard for PNM," said Melvin Christopher, vice president, operations and engineering. "We're proud of Debbie's accomplishments and professionalism and appreciate the leadership she provides our company in Santa Fe and Northern New Mexico. It's great to see her receive recognition from her peers."

O'Callaghan is very involved with the New Mexico Society of Professional Engineers, the New Mexico Engineering Foundation and the Society of Women Engineers.

O'Callaghan earned her bachelor's of science in mechanical engineering from Oregon State University. She is a licensed professional engineer in the state of New Mexico.

New Mexico Society of Professional Engineers is the professional association for individuals in the engineering profession.

PNM is the principal subsidiary of PNM Resources, an energy holding company based in Albuquerque. PNM provides natural gas service to 441,000 gas customers and electric utility service to 378,000 customers in New Mexico. The company also sells power on the wholesale market in the Western U.S. PNM Resources stock is traded primarily on the NYSE under the symbol PNM.