Sierra Pacific Resources Announces Quarterly Dividend

  
    
  
  
    
      Sierra Pacific Resources (NYSE: SRP) announced that its board of 
      directors yesterday declared a cash dividend of 10 cents per share, 
      payable on December 17, 2008, to shareholders of record on December 2, 
      2008.
    
    
      The company had previously paid 8 cents per share since resuming 
      quarterly dividends in the third quarter of 2007.
    
    
      Headquartered in Nevada, Sierra Pacific Resources is a holding company 
      whose principal subsidiaries, Nevada Power Company and Sierra Pacific 
      Power Company, are doing business as NV Energy. Serving a 
      54,500-square-mile service territory that stretches north to south from 
      Elko to Laughlin, NV Energy provides a wide range of energy services and 
      products to approximately 2.4 million citizens of Nevada as well as 
      approximately 40 million tourists annually.
    
    
      This press release may contain forward-looking statements regarding the 
      future performance of Sierra Pacific Resources 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, the discretion of Sierra 
      Pacific Resources' Board of Directors with respect to the payment of 
      future dividends based on its periodic review of factors that ordinarily 
      affect dividend policy, such as current and prospective financial 
      condition, earnings and liquidity, prospective business conditions, 
      regulatory factors, and dividend restrictions in Sierra Pacific 
      Resources' and its subsidiaries' financing agreements. Additional 
      cautionary statements regarding other risk factors that could have an 
      effect on the future performance of Sierra Pacific Resources and its 
      subsidiaries are contained in its Annual Report on Form 10-K and/or Form 
      10-K/A for the year ended December 31, 2007 and in its Quarterly Reports 
      on Form 10-Q for the quarters ended March 31, 2008 and June 30, 
      2008, each filed with the SEC. Sierra Pacific Resources 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.