News Releases

Sierra Pacific Resources Names Victor H. Pena Senior Vice President, Chief Administrative Officer

May 4, 2001

Victor H. Pena, 52, has been named senior vice president and chief administrative officer of Nevada-based Sierra Pacific Resources (NYSE: SRP), the holding company for the state's major utilities, Nevada Power Company and Sierra Pacific Power Company.

Pena will oversee the company's human resources, information technology, supply chain management, land services, facilities, security and administrative services functions. Mary Jane Reed, human resources vice president for the two utilities, will report to Pena and will also continue to report to Sierra Pacific Chairman and Chief Executive Officer Walter M. Higgins.

"We're excited to have Victor join our management team," Higgins said. "He's familiar with our company and with Nevada, having served previously as a senior officer with Sierra Pacific. With the unprecedented challenges facing our industry in the West, it's reassuring to have someone on our team with such a breadth of knowledge and experience."

Prior to accepting his new position with Sierra Pacific, Pena had been interim president of Georgia Natural Gas, the largest retail natural gas marketing company in Georgia, partly owned by Atlanta-based AGL Resources, a regional holding company for energy- and infrastructure-related businesses in the Southeast, and the second largest natural gas-only distribution company in the United States.

Pena was previously with Sierra Pacific from 1994 to 1998 as vice president, business development, before joining AGL Resources as vice president of financial systems and controller. Previously, he held executive positions at LG&E Energy Corp. in Louisville, Ky., R.J. Reynolds (now RJR Nabisco), Pepsico and Texaco.

He graduated from the University of Georgia with a bachelor's degree in business administration - accounting and completed graduate studies in business administration at the University of Miami and the Darden Graduate School of Business Administration.

Pena will be located at Sierra Pacific's Las Vegas office.

Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California, and a natural gas and water distributor in the Reno-Sparks area. Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns 50% interest in an interstate natural gas transmission partnership, and Sierra Pacific Communications, a telecommunications company.


SOURCE: Sierra Pacific Resources

Contact: analyst, Rich Atkinson, 775-834-5300, or media, Karl Walquist,
775-834-3891, both of Sierra Pacific Resources