Sierra Pacific Resources
Contact: Malyn Malquist or Victor Pena
Phone: (775)834-5400 (Malquist); (775)834-5800 (Pena)

For Immediate Release

Sierra Pacific Resources'(NYSE: SRP) board of directors meeting today in Reno, Nev., has approved a quarterly dividend on common stock of 29 1/2 cents per share. The dividend is payable Nov. 1, 1996, to shareholders of record at the close of business on Oct. 17, 1996.

Sierra Pacific Resources is the holding company for Sierra Pacific Power Co., an electric, natural gas and water utility that serves most of northern Nevada and portions of northeastern California; Tuscarora Gas Pipeline Company, which owns 50 percent interest in an interstate natural gas pipeline company; and Lands of Sierra, Inc., a real estate management company with holdings in Nevada and California.

Sierra Pacific Power Company's board of directors also declared reqular quarterly payments for holders of preferred stock. All are payable Dec. 1, 1996, to shareholders of record at the close of business on Nov. 15, 1996.