News Release

Sept. 14, 2006

PNM Resources Named to List of Top 50 Companies for Hispanic

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

Albuquerque: PNM Resources placed number 6 on Hispanic Business magazine’s Top 50 Companies for Hispanics.

PNM Resources is the energy holding company that owns PNM, Texas-New Mexico Power and First Choice Power in Texas, and has a combined work force of nearly 3,300 employees.

"We actively seek a diverse work force that reflects the communities we serve,” said Alice Cobb, chief administrative officer of PNM Resources. “We believe we get a richer set of business results to the extent that we have a diverse set of voices around the table."

The survey, which is the second conducted by the magazine, measured corporate commitment to Hispanic hiring, promotion, marketing, philanthropy, minority representation at the board and leadership level, and supplier diversity. The magazine contacted Fortune 500 companies, American subsidiaries of Global 500 companies, and other large U.S. public and private companies.

PNM Resources is one of four energy companies to make the Top 50. The magazine specifically singled out the company for its record on minority hiring. Minorities make up 43 percent of the company’s work force; women and minorities are represented in top management and on the board of directors. This is the first time PNM Resources has made the list.

PNM is a subsidiary of PNM Resources, an energy holding company based in Albuquerque, N.M. PNM provides electric utility service to 426,000 customers and natural gas service to 481,000 customers in New Mexico. The company also sells power on the wholesale market in the West. 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.