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NEWS RELEASE
Contact:
Media: Teresa Souza, 915-543-5823
Analysts: Rachelle Williams, 915-543-2257
Date: May 7, 2008
El Paso Electric today announced the election of long-time board member Kenneth R. Heitz as the new Chairman of El Paso Electric’s Board of Directors. Mr. Heitz will replace retiring Chairman, George W. Edwards, Jr.
Mr. Heitz is a cum laude graduate of the University of California at Los Angeles, where he was a member of 3 NCAA national championship basketball teams under Coach John Wooden and an Academic All-American. He joined the prestigious Los Angeles law firm Irell & Manella in 1972, serving as a partner from 1979 to 1988, before leaving to become Vice President and General Counsel and then Acting President and Chief Executive Officer of Columbia Savings and Loan Association from 1988 to 1990. In 1991, he reassumed his partnership position with Irell & Manella. Mr. Heitz has served on El Paso Electric’s Board of Directors since 1996, and makes his home in Pacific Palisades, California.
Mr. Heitz takes over the Chairmanship of the Board from George Edwards, who has been a board member since 1992, and Chairman since 1996. Mr. Edwards, who will remain on the EPE Board, is the former President and CEO of Kansas City Southern Railway Company. He currently lives in Eatonton, Georgia.
“The same superlative qualifications and ongoing dedication of both gentlemen that have supported this Company’s growth and progress now afford us a seamless transition and continued vision and leadership at El Paso Electric. We’re grateful to them both for their exemplary service,” said Frank Bates, Interim President and CEO at El Paso Electric.
El Paso Electric is a regional electric utility providing generation, transmission and distribution service to approximately 359,000 retail and wholesale customers in a 10,000 square mile area of the Rio Grande valley in west Texas and southern New Mexico. EPE has a net dependable generating capability of 1,503 MW. EPE’s common stock trades on the New York Stock Exchange under the symbol EE.
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