Sierra Pacific Resources' Board of Directors Declares Quarterly Dividend

LAS VEGAS, Feb. 7 /PRNewswire-FirstCall/ -- Sierra Pacific Resources
(NYSE: SRP) announced today that its Board of Directors has declared a cash
dividend of 8 cents per share, payable on March 12, 2008, to common
shareholders of record on Feb. 22, 2008.
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.
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 for the year
ended December 31, 2006 and its Quarterly Report on Form 10-Q for the quarter
ended Sept. 30, 2007, 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.
SOURCE Sierra Pacific Resources

media, Karl Walquist, +1-775-834-3891, or analysts, Britta Carlson,
+1-702-367-5624, both of Sierra Pacific Resources