Sierra Pacific Resources
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Rich Atkinson (775) 834-5640
Vicki Erickson (775) 367-5646
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Phone: please see above

For Immediate Release

Las Vegas, Nev. -- William E. (Bill) Peterson, senior vice president, general counsel and corporate secretary of Sierra Pacific Resources (NYSE: SRP), has announced his retirement after 26 years of affiliation with the utility company.

C. Stanley Hunterton, senior partner in the Las Vegas law firm of Hunterton&Associates, will succeed Peterson as general counsel and corporate secretary for Sierra Pacific and its utility subsidiaries, Nevada Power Company and Sierra Pacific Power Company, effective Sept. 30.

Peterson, 55, has been general counsel and secretary of the company since 1993, following 17 years during which he served as outside counsel to Sierra Pacific as a partner in the Reno, Nev., law firm of Woodburn&Wedge.

"Bill has provided exceptional legal advice and guidance for the Board, for me and for our company and we are all deeply appreciative for his long and distinguished service," said Walt Higgins, chairman, president and chief executive officer of Sierra Pacific Resources."While Bill certainly intends to concentrate on personal matters in retirement, we are gratified that he will continue to be available to the company as an independent legal advisor and will work with us during the transition period in coming months."

Hunterton, who will continue as a partner in his law firm, will be headquartered at Sierra Pacific Resources'offices in Las Vegas. He also will maintain an office in the company's Reno facilities.

Hunterton has been in private practice since 1986, focusing on large civil litigation issues. Previously, he served as an attorney for the United States Department of Justice. For 12 years, he was a prosecutor with the organized crime strike force in Detroit and Las Vegas. He is a graduate of Syracuse University and the Syracuse University College of Law.

Headquartered in Nevada, Sierra Pacific Resources'principal subsidiaries are Nevada Power Company, the electric utility for Las Vegas and southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California. Sierra Pacific also provides natural gas service to the Reno-Sparks area. Another subsidiary, the Tuscarora Gas Pipeline Company, owns 50 percent interest in an interstate natural gas transmission partnership.

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