RELIABILITY A COMPANY YOU CAN COUNT ON. Customers want us to keep the lights on and the gas flowing to their homes and businesses.  They expect a quick, courteous and efficient response when they call with a problem or question.  They want superior value for their money. They expect us to value safety above all. 10 SUPERIOR CUSTOMER SERVICE As the primary personal contact most customers have with our company, the PNM Customer Care Center is one of our top priorities. In 2003, PNM Customer Care repre- sentatives received 1,223,188 calls, answering 95.79% of them in an average of just 38 seconds. PNM Linemen Wes Rolan and Paul Allison are trained to work “barehanded” on live transmission lines, reducing the amount of time lines are shut down for maintenance. Instead of insulating the worker from the line, special techniques and equipment are used to isolate the worker from the ground like a bird sitting on the wire. 11 PNM crews contend daily with lightning strikes, squirrels, birds and vehicle hits to keep the power flowing to customers. We ranked number one in the nation in 2001 and number 3 in 2002 in system reliability. In 2003 we reduced average interruption time by another 9 percent. In 2004 we’re working on reducing not just the length but the number of service interruptions. PNM GAS SERVICES PNM is New Mexico's largest gas utility serving more than 450,000 customers in communities throughout the state. Since 1991, the company has invested $300 million in upgrading and expanding its 12,378 mile gas system. PNM RESOURCES • 2 0 0 3 A n n u a l R e p o r t t o S h a r e h o l d e r s 65 70 75 50 55 60 45 00 01 02 03 MINUTES OF OUTAGE PER CUSTOMER