News Releases

Sierra Pacific Declares Quarterly Dividend, Elects Treasurer

Dec 11, 2000

Sierra Pacific Resources
Contact: Mark Ruelle - (775) 834-5400
Rich Atkinson - (775) 834-4358
Phone: See Contacts:

For Immediate Release

Reno, Nev. - Sierra Pacific Resources (NYSE: SRP)Board of Directors, meeting today in Reno, approved a quarterly dividend on common stock of 25 cents per share. The dividend is payable Feb. 1, 2001, to shareholders of record at the close of business on Jan. 12, 2001. The ex-dividend date is Jan. 10, 2001.

The Board of Directors also elected Richard K. Atkinson to serve as the treasurer and investor relations officer for Sierra Pacific Resources and its utility subsidiaries.

Atkinson is a 20-year Sierra Pacific veteran who joined the company in 1980 as a financial analyst. He has held management positions in the corporate planning and economics department and was appointed as assistant treasurer of the company in 1996. Since 1999, he has served as assistant treasurer and executive director of finance.

A Montana native, Atkinson earned a bachelor's degree in biology at the University of Oregon and received his MBA from the University of Nevada, Reno. As treasurer he is responsible for operations of the treasury, shareholder services, risk management and investor relations departments.

Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for southern Nevada; and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California, and a natural gas and water distributor in the Reno-Sparks area. Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns 50 percent interest in an interstate natural gas transmission partnership; and Sierra Pacific Communications, a telecommunications company.