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PNM Declares Preferred Dividend

Albuquerque, New Mexico
September 16 , 2004

The Board of Directors of PNM, the principal subsidiary of PNM Resources (NYSE: PNM), has declared the regular quarterly dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. The preferred stock dividend is payable October 15, 2004, to shareholders of record at the close of business October 1, 2004.

PNM Resources is an energy holding company based in Albuquerque, New Mexico. PNM, the principal subsidiary of PNM Resources, serves about 460,000 natural gas customers and 400,000 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.

Analysts' contacts
Gina Jacobi: (505) 241-2211
Caroline Souders: (505) 241-0679

 

Press & analysts' contact
Frederick Bermudez: (505) 241-4831

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