TNP enterprises announces Michael E. Bray as president, names new TNMP vice presidents

FORT WORTH, Texas, March 3, 2004 — TNP Enterprises, Inc. and its subsidiary, Texas-New Mexico Power Company, have announced four new management appointments.

Michael E. Bray was named president and chief operating officer of TNP Enterprises. At Texas-New Mexico Power Company, three employees were promoted to newly established vice president positions in Market Operations, Technical Services and Audit Services.

Bray, a 34-year industry veteran, will provide day-to-day oversight of operations for First Choice Power and Texas-New Mexico Power Company. William J. Catacosinos, remains chairman and chief executive officer of TNP Enterprises.

Bray previously served as president of PPL Electric Utilities, a gas and electric utility headquartered in Allentown, Pa., where he helped the company earn national recognition for customer satisfaction.

“Mike has broad experience not only in the utility industry but also in the service industry, which has proven to be a more relevant model for First Choice Power,” Catacosinos said. “We’re pleased to have his day-to-day oversight of operations from a holding company level.”

Current TNMP personnel are filling the new vice president positions announced today at Texas-New Mexico Power Company. Joel Ivy, a 20-year company veteran, was named to the Technical Services position. Ivy most recently had served as director of that organization. The Technical Services organization now includes system operations functions, including dispatching for both Texas and New Mexico, and metering services. In addition, it continues to include the company’s engineering functions, providing technical services and support for customers.

Neal Walker was named to the Market Operations position. Walker, who joined TNMP in 1990, most recently had served as manager of the company’s Lewisville and North Texas Business Units. The new Market Operations organization helps align the company structure with business needs that have evolved since the onset of deregulation in 2002. The organization will include management of the company’s transmission and distribution system in Texas, and also will be responsible for relationships with retail electric providers serving customers on the TNMP System.

Mike Kennemer, who joined the company in 2001 as director of Audit Services, now holds the title of vice president for that department. The creation of a vice president position for Audit Services was made in recognition of the growing role of internal audit since passage of the Sarbanes-Oxley Act in 2002, which has led to a significant expansion in the scrutiny of the governance, operations and financial activities of corporations.

TNP Enterprises is headquartered in Fort Worth, Texas, and is the holding company for Texas-New Mexico Power Company and First Choice Power. Texas-New Mexico Power Company provides community-based electric service to 85 cities and more than 252,000 customers in Texas and New Mexico. Its affiliate, First Choice Power, is a retail electric provider serving electricity consumers in Texas.

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