News Releases

Sierra Pacific Responds to Inaccurate News Article

Jan 23, 2000

January 24, 2000
Sierra Pacific Resources
Contact: Rich Atkinson, Investor Relations / Karl Walquist, Media Relations
Phone: 775-834-4358 / 775-834-3891

For Immediate Release

RENO, NEV., Sierra Pacific Resources (NYSE: SRP) today labeled as inaccurate a January 24 story in that referred to its subsidiary, Sierra Pacific Power Company, as part of a"tightly knit consortium" that will offer"voice, data and television services."

"While Sierra is always looking for opportunities to expand its business and enhance shareholder value, the information presented in this article is false and misleading," said Karl Walquist, public information officer for Sierra Pacific.

Sierra Pacific has indicated it is interested in exploring opportunities in the telecommunications area and has made some investments in fiber technology. The company recently received a license from the Public Utilities Commission of Nevada to offer telecommunications services in Nevada. However, it has not entered into any such consortium as described in the story.

Walquist noted,"If and when the company enters into any definitive agreements regarding new products or service offerings, the company will publicly announce that fact."

Sierra Pacific Resources is a utility holding company headquartered in Reno, Nev., whose principal subsidiaries are Sierra Pacific Power Company and Nevada Power Company. Sierra Pacific serves about 1 million electric, natural gas and water customers in Nevada and northern California.