PRESS RELEASE Santa Barbara, CA Nevada Energy Company Announces ------------------------------- Executive Changes and Acquisition Plans --------------------------------------- Nevada Energy Company, Inc. (NASDAQ: NNRGA), announced today the appointment of a new President, and the advancement of its consolidation of its energy business and greater focus on acquisitions in the telecom arena. The Board of Directors has appointed Stefan N. Tevis as its acting President replacing Jeffrey E. Antisdel. Mr. Tevis said, "Jeff Antisdel has guided the Company through the last several years and represented the shareholders' interests with great determination, foresight and integrity." "Under Mr. Antisdel's stewardship, the Company has stabilized its wind and geothermal business and positioned itself to expand in other lucrative niche areas, while growing the core asset base." "He has overseen the implementation of a sound capital raising structure through private placement and, during the last six months, Jeff has postured the Company and planned the orderly utilization of those investment dollars to expand to the next level." Nevada Energy Company continues to receive its capital infusion according to the funding schedule announced on May 1, 1996. During October, the Company expects to acquire TADS and the other wind energy assets, and at the same time, proceed with the acquisition of further telecom assets. Nevada Energy Company Announces ------------------------------- Executive Changes and Acquisition Plans --------------------------------------- Page 2 ------ Additionally, Richard Cascarilla has been replaced as Secretary and Treasurer, by Kenton H. Bowers. The Company intends to continue working with Mr. Antisdel and Mr. Cascarilla consulting on the expansion and development of the Company's energy division. The Board of Directors expressed their gratitude to Mr. Cascarilla and Mr. Antisdel for their past and continuing support of the Company's growth. Mr. Tevis, 41, was previously Chairman of Contract Multi-media Specialists, Inc., and has investments in publishing, advertising and telecom companies. Mr. Tevis resides in Santa Barbara California, where the Company's new headquarters are to be located by mid-October. For information contact Stefan Tevis (800) 555-0796.