News Release

March 11, 2004

A Chance for Woman and Minority Business Owners To Shine

LEARN MORE Nominate someone for a PNM Entrepreneurial Leadership Award

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WESST CONTACT Kara Ramer Telephone: (505) 241-4753

NEWS MEDIA CONTACT Susan Sponar Telephone: (505) 241-2768

Albuquerque: PNM and the Women's Economic Self-Sufficiency Team (WESST Corp) are on a mission: to recognize six of the most interesting, promising and inspiring woman and minority business owners in New Mexico.

PNM and WESST Corp are now accepting nominations for the 2004 PNM Entrepreneurial Leadership Awards. Six winners will be selected and recognized, with plaques and cash prizes, during a Friday, June 4, luncheon at the Hilton Hotel in Albuquerque. Nominations will be accepted through Friday, April 30.

"These awards recognize the hard work, determination and creativity of some of the most successful woman- and minority-owned businesses in New Mexico," said WESST Corp Executive Director Agnes Noonan.

Nominations typically come from friends, family or professional colleagues of business owners, but business owners can also nominate themselves.

Nominations may be made online at or downloaded from PNM.com/wesst. Nomination forms also are available from WESST corp offices in Albuquerque, Farmington, Las Cruces, Roswell, Santa Fe and Taos and from PNM customer service offices in dozens of New Mexico communities. Forms also may be requested by calling (505) 241-4753.

Last year's winners show the diversity of New Mexico's small businesses as well as the award program's applicant pool. Winners in 2003 were owners of:

• Quality Control Engineering, a Roswell firm that retained its employees despite an economic downturn;
• The One Room School House, a technological tutoring program in Las Cruces;
• Covenant Cardio and Vascular Lab, a medical start-up in Roswell;
• Taos Tin Works, whose owner faced a variety of medical challenges but never gave up;
• Piccolino Italian Restaurant, housed in a formerly abandoned building in Hagerman;
• Navajo Spirit, a Gallup business that produces Native American-inspired fashions; and
• POD, Inc., an Albuquerque-based engineering firm.

This year, awards will be given in the following categories:

• Entrepreneur of the Year Award: Given to a woman or minority business owner in business for at least three years, with 20 or fewer full-time employees, annual sales in excess of $50,000, and a demonstrated profit in two of the last three years.
• Emerging Entrepreneur of the Year Award: Given to a woman or minority business owner in business for less than two years. The business must address an identified need in the marketplace and have the potential to expand rapidly and enjoy long-term business success.
• Rural Entrepreneur of the Year Award: Given to a woman or minority business owner in business for at least one year in a rural community with a population of less than 50,000 people.
• Rising Star Award: Given to a woman or minority business owner in business for at least one year and who has had to overcome great personal obstacles to start and maintain the business.
• Pioneer Award: Given to a woman who has been in business for at least three years and built a profitable business in a traditionally male-dominated industry.
• Leadership Award: Given to a woman or minority who is a role model for other women or minorities in business. This person's leadership helps to advance the economic situation of women and minorities in New Mexico.

WESST Corp, the Women's Economic Self-Sufficiency Team, is a non-profit organization headquartered in Albuquerque. Its mission is to facilitate the start-up and growth of women and minority-owned businesses throughout the state of New Mexico.

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.