Document management system delivers increased efficiency to Public Service Company of New Mexico

Toronto, July 22, 2003 — Hummingbird Ltd., a developer of enterprise information management systems (EIMS), has announced that Hummingbird DM™, the advanced document management technology of Hummingbird Enterprise™, delivered a 105% return on investment (ROI) to its customer, Public Service Company of New Mexico (PNM), with a payback period of only 11 months.

According to an independent analysis conducted by Nucleus Research, a Massachusetts-based firm that evaluates financial return on IT assets, PNM achieved a positive ROI on its Hummingbird deployment because of improved access to content in various libraries; increased employee productivity across different departments; and reduced customer support and storage costs. The benefits to PNM, both direct and indirect, amounted to annual savings of more than $1.5 million.

PNM, the principal subsidiary of PNM Resources, an energy holding company based in Albuquerque, New Mexico, provides natural gas service to 441,000 customers and electric utility service to 385,000 customers in New Mexico. With a growing customer base and a commitment to improving quality in its key processes, PNM addressed its expanding list of challenges by integrating its in-house records management system with the Hummingbird document management solution.

“We needed to move from a paper-laden environment to a workplace where the electronic document took on a much greater role,” said Carl Seider, PNM systems administrator. “Due to the superior searching capabilities and ease of use of the Hummingbird document management software, we have freed up hundreds of square feet of file cabinet space; enabled documents that were stored offsite and onsite to be scanned and shredded; and allowed employees more time with customers instead of filing and hunting for documents.”

The Hummingbird DM system’s advance search, retrieval and categorization capabilities accommodate the varying user requirements in different departments across the organization. With improved access to documents and records, PNM has been able to retire its microfiche system and reduce its reliance on off-site storage, resulting in significant cost savings. PNM currently deploys over 21 document libraries in the Hummingbird document management system, with approximately 1.2 million documents being added every month.

“Records management touches every part of the business. As an investor-owned utility that is regulated by the state, we are required to retain different kinds of records and produce these documents upon request,” added Seider. “With Hummingbird DM, our employees across different departments such as contract administration, legal, and accounts payable, are empowered with a more efficient way to search and access documents and can respond quickly to internal and external requests for information.”

“We are very pleased with the results of the Nucleus Research Study. The Hummingbird Enterprise technology delivers significant and measurable benefits to PNM including a built-in level of security and compliance, an absolute necessity in today’s business environment,” said Barry Litwin, president, Hummingbird Ltd. “Hummingbird continually strives to set new standards for our customers with the most comprehensive document management system available in the marketplace today.”

The complete PNM ROI case study by Nucleus Research is available on the Hummingbird website at: http://www.hummingbird.com/collateral/ss/pnm.html

About Public Service Company of New Mexico

PNM is New Mexico’s largest electric and gas utility. In total, PNM serves 1.3 million people in more than 100 communities in New Mexico. The company employs about 2,600 people, making it the eighth-largest private employer in New Mexico. Operations and customer service offices are located around the state, including in Clovis, Chama, Anthony, Silver City, Alamogordo, Truth or Consequences, Belen, Farmington, Gallup, Grants, Roswell, Santa Fe, Taos, Tucumcari, Carlsbad and Artesia. PNM is regulated by a variety of state and federal commissions and agencies. In addition, many PNM electric transmission lines and natural gas pipelines cross tribal lands, so company officials work closely with area Native American governments. For more information, visit: www.pnm.com

About Nucleus Research

Nucleus Research is an independent global research and advisory firm that provides CFOs and CIOs with the financial and technology expertise they need to evaluate and manage their information technology investments the same way they evaluate and manage other capital investments. The company was founded in 2000 by former senior executives from International Data Corp., Dataquest, and AMR Research, and is headquartered in Wellesley, Mass., with additional offices in London and Paris. For more information, visit www.NucleusResearch.com.

About Hummingbird Enterprise™

Hummingbird Enterprise™ offers customers a 360-degree view of their knowledge assets by bringing together Hummingbird’s industry leading portal, connectivity, document management, records management, knowledge management, business intelligence, collaboration, and data integration solutions into an integrated enterprise information management system (EIMS). Hummingbird Enterprise offers everything organizations need to manage the entire lifecycle of their business content.

About Hummingbird

Headquartered in Toronto, Canada, Hummingbird Ltd. is a global enterprise software company employing over 1400 people in nearly 40 offices around the world. The revolutionary Hummingbird Enterprise™, an integrated information and knowledge management suite, manages the entire lifecycle of information and knowledge assets. Hummingbird Enterprise creates a 360-degree view of enterprise content with a portfolio of products that are both modular and interoperable. Today, five million users rely on Hummingbird to connect, manage, access, publish and search their enterprise content. For more information, please visit: http://www.hummingbird.com