News Release

March 1, 2005

PNM, WESST Corp Looking for Small Business Success Stories

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NEWS MEDIA CONTACTS WESST: Mary Ellen Merrigan Telephone: (505) 241-4753

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

Albuquerque: PNM and WESST Corp are now accepting nominations for the Sixth Annual PNM Entrepreneurial Leadership Awards, a program that recognizes some of the most inspiring woman and minority business owners in New Mexico.

Nominations will be accepted through May 13. Six winners will receive plaques and cash prices during a June 3 luncheon at the Hilton Albuquerque. Nominations typically come from friends, family or professional colleagues of business owners, but business owners can also nominate themselves.

"This program rewards some of the most interesting and innovative small businesses in New Mexico," said Jeff Sterba, PNM chairman, president and CEO. "We're glad to play a role in highlighting their successes and holding them up as role models for others to emulate."

"We always get a strong response to this program," said WESST Corp Executive Director Agnes Noonan. "This year, we want to increase the reach and see applications from Clayton to Lordsburg and everywhere in between."

Nominations may be made online at PNM.com/wesst. Nomination forms may be downloaded from that Web page or picked up at WESST Corp offices in Albuquerque, Las Cruces, Gallup, Roswell or Santa Fe. Forms also may be requested by calling (505) 241-4753.

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 50 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 36 months 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 advance a favorable environment for women and minority owned businesses in New Mexico.

WESST Corp is a non-profit economic development organization headquartered in Albuquerque, N.M. Its mission is to facilitate the start-up and growth of woman- and minority owned businesses in New Mexico, although its services are available to any New Mexico resident seeking to start or grow a business. WESST Corp has regional offices in Gallup, Las Cruces, Roswell and Santa Fe.

PNM is the principal subsidiary of PNM Resources, an energy holding company based in Albuquerque, N.M. PNM provides natural gas service to 471,000 customers and electric utility service to 413,000 customers in New Mexico. The company also sells power on the wholesale market in the Western United States. PNM Resources stock is traded primarily on the NYSE under the symbol PNM.