News Releases

Nevada Power Company Calls for Redemption of 7.20% Industrial Development Refunding Revenue Bonds (Nevada Power Company Project), Series 1992C

Apr 27, 2006

LAS VEGAS, April 28 /PRNewswire/ -- Nevada Power Company (the"Company") announced today that the 7.2% Industrial Development Refunding Revenue Bonds (Nevada Power Company Project) Series 1992C, CUSIP No. 181004AQ5, (the"1992C Bonds") have been called for redemption on May 30, 2006 (the"Redemption Date"). There are currently $78,000,000 aggregate principal amount of 1992C Bonds outstanding.

On the Redemption Date, the 1992C Bonds will be redeemed at a price equal to 100% of the principal amount of the 1992C Bonds, together with accrued and unpaid interest as of the Redemption Date. On and after the Redemption Date, interest on the 1992C Bonds will no longer accrue, and all rights of the bondholders, except the right to receive the redemption price plus interest accrued to the Redemption Date, will cease.

The redemption of the 1992C Bonds on the Redemption Date is conditioned upon the receipt by the Trustee on or prior to the Redemption Date of moneys sufficient to pay the redemption price and accrued interest.

Headquartered in Las Vegas, Nevada, Nevada Power Company is the electric utility for most of southern Nevada. Nevada Power Company is a wholly-owned subsidiary of Sierra Pacific Resources (NYSE: SRP).

This press release does not constitute a notice of redemption or an offer to buy or sell the securities being redeemed. Certain matters in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, Nevada Power's ability to access to the capital markets to finance the redemption. Additional cautionary statements regarding other risk factors that could have an effect on the future performance of Nevada Power Company are contained in its Annual Report on Form 10-K for the year ended December 31, 2005, filed with the SEC. Nevada Power Company undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

SOURCE Nevada Power Company
Sonya Headen,
or Analysts,
Britta Carlson,
+1-702-367-5624, both of Nevada Power Company.
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