News Release

Sept. 13, 2004

PNM Appoints New Director of Environmental Sustainability

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

Albuquerque: PNM announced today that it has filled a newly created position dedicated to ensuring that its policy of environmental sustainability is fulfilled and that the company's environmental goals are achieved by a self-imposed 2009 deadline.

Jeff Burks, PNM director of environmental sustainability, joins PNM after working for the state of Utah Energy Office for 25 years, serving most recently as the agency's energy policy coordinator. Additionally, Burks has been an energy policy advisor for two Utah governors providing expert advise on energy issues.

"We’re just thrilled to have someone of Jeff's broad command of energy issues, particularly those pertaining to the environment, energy efficiency and renewable energy," said Bill Real, PNM senior vice president of public policy. "His depth of knowledge in these key areas makes him the ideal person to help PNM begin its journey toward environmental sustainability."

The PNM Board of Directors earlier this year adopted an environmental sustainability policy that directs the company to give equal consideration to business, environmental and societal needs in its strategic decision making. Examples of such decision making include the investment PNM has made in providing wind-generated energy to its customers though PNM Sky Blue.

"I am very excited about joining PNM at such an important time in the company's history and helping the company achieve its laudable environmental goals," said Burks. "PNM's commitment to its shareholders, to its customers and to the environment is impressive and I'm proud to be a part of this effort."

PNM Resources is an energy holding company based in Albuquerque, New Mexico. PNM, the principal subsidiary of PNM Resources, serves about 462,000 natural gas customers and 403, 000 electric 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.