News Release

Dec. 30, 2004

PNM To Match Customer Donations to American Red Cross
Tsunami Relief Efforts; Goal To Raise $125,000

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

Albuquerque: PNM has established a fund to match employee and customer donations to the American Red Cross to support tsunami relief efforts.

PNM has contributed $25,000 to the fund and will use shareholder dollars to match employee donations up to $25,000 and customer donations up to $25,000 for a total PNM donation of $75,000.

The goal is to raise $125,000 to support the tsunami relief efforts in South Asia.

PNM donation $25,000 PNM customers' donations $25,000 PNM match for customers' donations $25,000 PNM employees' donations $25,000 PNM match for employees' donations $25,000 Total potential donation $125,000

Customers can donate money online or write a check.

Learn how to donate to the relief fund

All PNM donations are from shareholders' dollars; no customer funds will be used. Customer donations to the American Red Cross are tax deductible.

The American Red Cross South Asia relief effort will help those affected by the tsunami in South Asia. Your funds will provide for food, clean water, shelter, clothing and emergency medical relief.

PNM is the principal subsidiary of PNM Resources, an energy holding company based in Albuquerque. PNM provides electric utility service to 405,000 customers and natural gas service to 459,000 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.