Media Contact:  Andrea Smith, (702) 367-5843
Analyst Contact:  Britta Carlson,  (702) 367-5624 

Las Vegas, Nevadaâ€" Nevada Power Company, a wholly-owned subsidiary of Sierra Pacific Resources (NYSE:SRP), announced today the final results of its previously announced cash tender offer and consent solicitation for any and all of its 10?% General and Refunding Mortgage Notes, Series E, due 2009 (CUSIP No. 641423BD9). Nevada Power has been advised by the information agent that a total of approximately $150 million, or over 92%, in aggregate principal amount of the outstanding notes were validly tendered and not withdrawn before the expiration of the Offer at 12:00 midnight, New York City time, on Wednesday,June 28, 2006, which was the expiration time.  
      
Holders of the notes who accepted the offer and consent solicitation at or prior to the consent time of 5:00 p.m., New York City time, on Wednesday, June 14, 2006, will receive $1,068.45 in cash plus accrued and unpaid interest up to the settlement date per $1,000 principal amount of the notes tendered, which includes a $30.00 consent payment per $1,000 principal amount of the notes tendered.  Holders of the notes who accepted the offer after the consent time, but prior to the expiration time will receive $1,038.45 in cash plus accrued and unpaid interest up to the settlement date per $1,000 principal amount of the notes tendered.  The settlement date is expected to be on or near June 29, 2006.  The amendment to the officer's certificate to effect the proposed amendments to the notes described in Nevada Power's offer to purchase and consent solicitation statement dated June 1, 2006 will become operative on the settlement date and will be binding upon the holders of any notes that were not tendered into the offer. 
      
Payments on the notes will be funded with the proceeds from the sale and issuance on June 26, 2006 of $120,000,000 of Nevada Power's 6.650% General and Refunding Mortgage Notes, Series N, due April 1, 2036 and $75,000,000 of Nevada Power's 6.50% General and Refunding Mortgage Notes, Series O, due May 15, 2018.  Payments on the notes will be delivered promptly to accepting holders by the solicitation agent through The Depository Trust Company.  
      
Goldman, Sachs& Co. served as the exclusive dealer manager for the offer and as solicitation agent for the consent solicitation and Morrow& Co., Inc. served as the information agent for the offer.  
      
Nevada Power, (“the Company), is a regulated public utility engaged in the distribution, transmission, generation, purchase and sale of electric energy in the southern Nevada communities of Las Vegas, North Las Vegas, Henderson, Searchlight, Laughlin and their adjoining areas, including Nellis Air Force Base andthe Department of Energy's Nevada Test Site in Nye County.  The Company provides electricity to approximately 774,000 residential and business customers.
     
Headquartered in Nevada, Sierra Pacific Resources is a holding company whose principal subsidiaries are Nevada Power Company, the electric utility for most of southern Nevada, and Sierra Pacific Power Company, the electric utility for most of northern Nevada and the Lake Tahoe area of California.  Sierra Pacific Power Company also distributes natural gas in the Reno-Sparks area of northern Nevada.  Other subsidiaries include the Tuscarora Gas Pipeline Company, which owns a 50 percent interest in an interstate natural gas transmission partnership and several unregulated energy services companies.
     
This press release may contain forward-looking statements regarding the future performance of the Company 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.  Additional cautionary statements regarding other risk factors that could have an effect on the future performance of the Company are contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2005 and the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2006, both filed with the Securities and Exchange Commission.  The 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.