FORT WORTH, Texas — July 7, 2005 — Douglas Hobbs has been named president and CEO of Texas-New Mexico Power Company, an electric utility headquartered in Fort Worth, Texas.

Texas-New Mexico Power Company is a wholly owned subsidiary of PNM Resources (NYSE: PNM), an energy holding company based in Albuquerque, N.M.  Hobbs also serves as senior vice president of Customer and Delivery Services for PNM Resources.

Hobbs brings more than 24 years of experience in engineering, power production, business development and utility operations to his new position.  Most recently, he served as senior vice president and chief operations officer for TNMP.

Prior to that, he served in many vice president roles at TNMP and also worked as a project manager for Fluor Corporation and Fluor Daniel.

TNMP provides electricity to 49,000 customers in New Mexico, and electric transmission and distribution services for 209,000 customers in Texas.