2003 Earnings

Year-End and Fourth Quarter 2003

Duke Energy reported a net loss in 2003 of $1.3 billion, or ($1.48) per share, compared to net income of $1.0 billion, or $1.22 per share in 2002.

Third Quarter 2003

Duke Energy reported third quarter 2003 earnings of 5 cents per share, or $49 million in net income, compared to 27 cents per share, or $230 million in net income in third quarter 2002.

Second Quarter 2003

Duke Energy reported second quarter 2003 earnings of 46 cents per share, or $424 million in net income, compared to 57 cents per share, or $474 million net income in second quarter 2002.

First Quarter 2003

Duke Energy reported first quarter earnings of 25 cents per share, or $225 million in net income, compared to 48 cents per share, or $382 million net income in first quarter 2002.