News Releases

Nevada Power Company and Sierra Pacific Resources Merger Approved by FERC

Apr 13, 1999

April 14, 1999
Sierra Pacific Resources
Contact: Faye I. Andersen
Phone: (775) 834-4822

For Immediate Release

LAS VEGAS, NEVADA (April 14, 1999) - The Federal Energy Regulatory Commission (FERC) approved the $4 billion merger application of Sierra Pacific Resources (NYSE:SRP) and Nevada Power Company (NYSE, PCX:NVP) today as part of its consent agenda. FERC stated in its decision,"We find that the Applicants'proposed merger and mitigation commitments are consistent with the public interest."

"We had every reason to believe the FERC would see the benefits this merger will bring to Nevadans," said Michael Niggli, CEO, president and COO of Nevada Power Company."This takes us a step closer to allowing all of our customers to benefit from our increased efficiencies sooner rather than later. We believe the Department of Justice and Securities and Exchange Commission will also see the benefits."

"This represents a very significant step in the process of completing our merger," said Malyn Malquist, CEO, chairman, and president of Sierra Pacific Resources."With FERC approval in hand, we will work hard with the other agencies to close the merger by the end of the second quarter of 1999."

Contacts for Sierra Pacific Media: Faye I. Andersen(775) 834-4822 and Investors:Richard Atkinson (775) 834-4358.

Contacts for Nevada Power Media:Tom Henley(702) 367-5681, and Investors:Lauran M. Watson (702) 367-5610.