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Press Releases

Black Hills Corporation Announces Schedule for Quarterly Earnings Release and Conference Call

RAPID CITY, SD—October 18, 2006—Black Hills Corporation (NYSE: BKH) will issue a news
release on third quarter 2006 earnings results on Thursday, November 2, 2006.

In conjunction with this release, the Company will hold a conference call on Friday,
November 3, 2006 beginning at 11:00 a.m. Eastern Time to discuss financial and operating
performance. The conference call will be open to the public. The call can be accessed by dialing,
toll-free, (877) 209-0397. When prompted, indicate that you wish to participate in the “Black Hills
Quarterly Earnings Conference Call.” A replay of the conference call will be available through
November 10, 2006 by dialing (800) 475-6701 (USA) or (320) 365-3844 (international). The access
code is 844547.

Black Hills Corporation is a diversified energy company. Black Hills Energy, our wholesale
energy business unit, generates electricity, produces natural gas, oil and coal, and markets energy.
Our retail businesses are Black Hills Power, an electric utility serving western South Dakota,
northeastern Wyoming and southeastern Montana; and Cheyenne Light, Fuel & Power, an electric
and gas distribution utility serving the Cheyenne, Wyoming vicinity. More information is available
at our Internet web site: www.blackhillscorp.com.

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Black Hills Corporation - Investor Relations