News Release

Aug. 12, 2005

PNM Names New North Central Operations Director

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

Albuquerque: PNM today announced that Robert Castillo has joined the company as director of North Central Operations, overseeing customer service and gas and electric operations in northern New Mexico communities, including Santa Fe, Las Vegas, Española and Taos.

Castillo brings to PNM energy expertise gained in both the public and private sectors during a career that began in the 1970s. His past positions include:

• Director of administrative services for the New Mexico Department of Energy, Minerals and Natural Resources
• Vice president and regional customer officer for Texas-New Mexico Power Co.
• Executive vice president and general manager of the New Mexico Electric Cooperative Association
• Staff for the New Mexico Public Utility Commission.

"With his engineering expertise and experience in government and community relations, Robert is eminently qualified to lead our North Central Operations as we seek to enhance relationships in these communities and strive for even greater customer satisfaction," said Eddie Padilla, vice president of PNM Operations.

Castillo holds a master's degree in finance from the University of New Mexico and a bachelor's degree in civil engineering from New Mexico State University. He is a longtime Santa Fe resident.

PNM is the principal subsidiary of PNM Resources, an energy holding company based in Albuquerque, N.M. PNM provides electric utility service to 413,000 customers and natural gas service to 471,000 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. For more information, see the company's Web site at PNM.com.