Sierra Pacific Resources (NYSE: SRP) announced today that its Board of Directors has declared a cash dividend of 8 cents per share, payable on March 12, 2008, to common shareholders of record on Feb. 22, 2008.

Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for most of southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California. Sierra Pacific Power Company also distributes natural gas in the Reno-Sparks area of northern Nevada.

This press release may contain forward-looking statements regarding the future performance of Sierra Pacific Resources within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, the discretion of Sierra Pacific Resources' Board of Directors with respect to the payment of future dividends based on its periodic review of factors that ordinarily affect dividend policy, such as current and prospective financial condition, earnings and liquidity, prospective business conditions, regulatory factors, and dividend restrictions in Sierra Pacific Resources' and its subsidiaries' financing agreements. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Sierra Pacific Resources and its subsidiaries are contained in its Annual Report on Form 10-K for the year ended December 31, 2006 and its Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2007, filed with the SEC. Sierra Pacific Resources undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

First Call Analyst:
FCMN Contact: kwalquist@sppc.com

SOURCE: Sierra Pacific Resources

CONTACT: media, Karl Walquist, +1-775-834-3891, or analysts, Britta
Carlson, +1-702-367-5624, both of Sierra Pacific Resources

Web site: http://www.sierrapacific.com/