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Tyson named vice president and treasurer of Xcel Energy

DENVER - The Board of Directors of Xcel Energy (NYSE: XEL) voted Thursday to elect George Tyson to the position of vice president and treasurer of Xcel Energy.

Tyson takes over duties previously held by former Treasurer Benjamin G.S. Fowke III, who was promoted to chief financial officer of Xcel Energy in October 2003.  Tyson will report to Fowke and will oversee much of Xcel Energy’s financial activities.  He joined the treasury group in 2003 as managing director and assistant treasurer, and earlier served as director of origination for Xcel Energy Markets in Denver.

“George brings a wealth of experience and many diverse talents to the table,” said Fowke.  “In a short time with our treasury group he has done an outstanding job of developing and executing short and long-term financing strategies.”

Tyson’s career includes seven years of investment banking experience with both Deutsch Bank Securities and Bankers Trust Company.  He also served four years with Amoco Corp., where he evaluated investment opportunities in both the upstream and downstream sectors of the oil and natural gas business.  His new duties will range from overseeing management of the Xcel Energy pension fund and daily cash management activity, to maintaining business relationships with Xcel Energy’s primary financial services providers in both the bank and insurance sectors.

“George is a proven leader who gets things done,” Fowke said.  “We’re pleased to have a person with his professional skills as our treasurer.”

Tyson holds a master of business administration degree in finance and accounting from the University of Chicago and a bachelor’s degree in economics from the University of Virginia.

Xcel Energy (NYSE:XEL) is a major U.S. electricity and natural gas company with regulated operations in 11 Western and Midwestern states. Xcel Energy provides a comprehensive portfolio of energy-related products and services to 3.3 million electricity customers and 1.8 million natural gas customers through its regulated operating companies. In terms of customers, it is the fourth-largest combination natural gas and electricity company in the nation. Company headquarters are located in Minneapolis. More information is available at www.xcelenergy.com.