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PNM Resources Announces Extension of Expiration Date for Tender Offer for Portion of Senior Notes to Feb. 5

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^{Published in Business and Finance on Tuesday, February 3rd 2009 at 14:04 GMT, Last Modified on 2009-02-03 14:05:33 by Market Wire}  

ALBUQUERQUE, N.M.--([ BUSINESS WIRE ])--PNM Resources (NYSE: PNM) today announced it has extended the expiration date of its previously announced tender offer (the "Tender Offer") for a portion of its outstanding 9.25% Senior Notes, Series A, due 2015 (the "Notes") to 9 a.m., New York City time, on Feb. 5, 2009. The early participation date, which expired at 9 a.m., New York City time, on Feb. 3, 2009, is not being extended. All other terms and conditions of the Tender Offer described in the offer to purchase dated Jan. 5, 2009 (the "Offer to Purchase"), as previously amended, and the related letter of transmittal (the "Letter of Transmittal") remain unchanged.

The terms and conditions of the Tender Offer are described in the Offer to Purchase and in the Letter of Transmittal. Citi, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wedbush Morgan Securities Inc. are the dealer managers for the Tender Offer. Global Bondholder Services Corporation ("GBSC") is the depositary and information agent. Copies of the Offer to Purchase and related documents may be obtained from GBSC at (866) 873-7700 or (212) 430-3774 (for banks and brokers). Questions regarding the Tender Offer may be directed to Citi at (800) 558-3745, Merrill Lynch, Pierce, Fenner & Smith Incorporated at (888) 654-8637, or Wedbush Morgan Securities Inc. at (213) 688-8091.

This press release is for informational purposes only and does not constitute an offer to purchase or a solicitation of any offer to sell the Notes or any other securities. The Tender Offer is being made solely by the Offer to Purchase and the Letter of Transmittal.

Background:

PNM Resources (NYSE: PNM) is an energy holding company based in Albuquerque, N.M., with 2008 consolidated operating revenues from continuing and discontinued operations of $2.4 billion. Through its utility and energy subsidiaries, PNM Resources has more than 2,700 megawatts of generation resources and serves electricity to more than 859,000 homes and businesses in New Mexico and Texas. The company also has a 50-percent ownership of EnergyCo, which owns approximately 920 megawatts of generation. For more information, visit the company's Web site at [ www.PNMResources.com ].