2008-09-19 23:01:03 -

www.pnmresources.com - The Board of Directors of PNM, a subsidiary of PNM Resources (NYSE: PNM), has declared the regular quarterly dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. The preferred stock dividend is payable Oct. 15, 2008, to shareholders of record at the close of business Oct. 1, 2008.

Background:

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2007 consolidated operating revenues from continuing and discontinued operations of $2.4 billion. Through its utility and energy subsidiaries, PNM Resources serves electricity to more than 859,000 homes and businesses in New Mexico and Texas and natural gas to more than 495,000 customers in New Mexico. Its utility subsidiaries

are PNM and Texas-New Mexico Power. Another subsidiary is First Choice Power, a deregulated competitive retail electric provider in Texas. With generation resources of approximately 2,700 megawatts, PNM Resources and its subsidiaries market power throughout the Southwest, Texas and the West. In addition, the company has a 50-percent ownership of EnergyCo, which owns approximately 920 megawatts of generation. For more information, visit www.PNMResources.com.

PNM Resources, Albuquerque
Analysts
Gina Jacobi, 505-241-2211
or
Analysts & Media
Frederick Bermudez, 505-241-4831