                                                                Exhibit 99.1


              BLACK HILLS CORPORATION REISSUES FINANCIAL STATEMENTS
                     o Deloitte & Touche Completes Re-audit

RAPID CITY, SD--November 25, 2002--Black Hills Corporation (NYSE: BKH) announced
today that its new independent public accountants, Deloitte & Touche LLP, have
completed the audit of Black Hills Corporation's 2001, 2000 and 1999 financial
statements that were originally audited by Arthur Andersen LLP. The reissued
financial statements, including the report of Deloitte & Touche, were submitted
to the Securities and Exchange Commission in a Form 8-K filed today. The net
income and earnings per share in the reissued financial statements are unchanged
from amounts previously reported in its 2001 Form 10-K.

Because Black Hills Corporation is reissuing the financial statements as of a
current date, three areas of the reissued financial statements being filed today
differ from Black Hills Corporation's 2001 Annual Report on Form 10-K as
previously filed:

     o    Discontinued  operations  presentation in the financial statements for
          the disposition of Black Hills Coal Network;

     o    Reporting of energy trading results on a net basis; and

     o    Disclosure  of  various  subsequent  events  occurring  since the 2001
          financial statements were previously issued.

The discontinued operations disclosures and presentation changes in the reissued
financial statements relate to Black Hills Corporation's second quarter 2002
plan to dispose of its coal marketing subsidiary, Black Hills Coal Network,
Inc., and the completion of the sale in July 2002. Securities and Exchange
Commission (SEC) rules require that once operations are reported as discontinued
(as they were in Black Hills Corporation's second and third quarter Form 10-Qs
for 2002), subsequent financial statements must present such operations on a
consistent basis. Discontinued operations disclosures have been added in a new
footnote to Black Hills Corporation's reissued financial statements.

The trading reclassifications relate to new reporting requirements issued in
2002 by the Emerging Issues Task Force (EITF) of the Financial Accounting
Standards Board. The EITF's decision requires that beginning in 2003 trading
revenues and expenses be presented on a net basis. Black Hills elected to
reclassify trading costs of approximately $1.0 billion, $1.3 billion and $0.6
billion in 2001, 2000 and 1999, respectively, against trading revenues to
present net trading margins in Black Hills Corporation's reissued income
statements.

Given the current release of the reissued financial statements, reporting rules
require that certain subsequent events in 2002 be disclosed to the extent they
are relevant to the 2001, 2000 and 1999 financial statements. The reissued Black
Hills Corporation financial statements include updated disclosures of various
events in 2002.

The disclosure and presentation changes did not affect net income or earnings
per share from amounts previously reported for Black Hills Corporation. Also,
total assets, liabilities and shareholders' equity remain unchanged in the
reissued financial statements from amounts previously reported for Black Hills
Corporation. The discontinued operations and the trading reclassifications,
however, did reduce total revenues of Black Hills Corporation from amounts
previously reported and did reclassify other items on the income statements and
balance sheets.

Black Hills Corporation (www.blackhillscorp.com) is a diverse energy and
communications company with three business groups: Black Hills Energy, the
integrated energy unit which generates electricity, produces natural gas, oil
and coal and markets energy; Black Hills Power, an electric utility serving
western South Dakota, northeastern Wyoming and southeastern Montana; and Black
Hills FiberCom, a broadband communications company offering bundled telephone,
high speed Internet and cable entertainment services.


