Sierra Pacific Resources
Contact: Karl Walquist(Media contacts) Rich Atkinson(Analyst contacts)
Phone: (775)834-3891/(775)834-4358

For Immediate Release

The Sierra Pacific Resources (NYSE: SRP) Board of Directors, meeting Tuesday, approved a quarterly dividend on common stock of 31 cents per share. The dividend is payable Nov. 1, 1997, to shareholders of record at the close of business on Oct. 17, 1997.

Headquartered in Reno, Nev., Sierra Pacific Resources is a utility holding company whose principal subsidiary is Sierra Pacific Power Co., the electric utility for most of northern Nevada and the Lake Tahoe area of California, and the natural gas and water distributor for the Reno-Sparks area.

Other subsidiaries include the Tuscarora Gas Pipeline Co., which owns 50 percent interest in an interstate natural gas transmission partnership; Lands of Sierra, a real estate management company; and e*three, an energy services company.