Item 10. Directors and Executive Officers of the Registrant. - 2003 Annual Report - Duke Energy
Duke Energy

Item 10. Directors and Executive Officers of the Registrant.

Reference to "Executive Officers of Duke Energy" is included in "Item 1. Business" of this report. See "The Board of Directors," "Information on the Board of Directors" and "Other Information" in the Proxy Statement relating to Duke Energy’s 2004 annual meeting of shareholders, incorporated herein by reference.

Duke Energy has adopted a code of ethics entitled "Code of Business Ethics" that applies to all officers (including the principal executive officers, principal financial officer and controller) and employees of Duke Energy and Duke Energy’s consolidated subsidiaries. The "Code of Business Ethics" is posted on Duke Energy’s Internet Web site: http://www.duke-energy.com/investors/corporate/ethics.htm and is available in print to any shareholder who requests it. In satisfaction of the disclosure requirements of Item 10 of Form 8-K, Duke Energy will disclose on this website any amendments to, or waivers to, provisions of the "Code of Business Ethics" that apply to its principal executive officers, principal financial officer and controller and that relate to any element of this code enumerated in Item 406(b) of Regulation S-K.

Duke Energy's Board of Directors has approved and Duke Energy has adopted a "Code of Business Conduct and Ethics for Members of the Board of Directors of Duke Energy Corporation," applicable to all members of Duke Energy’s Board of Directors, that set forth standards of conduct for directors. This code is posted on Duke Energy’s Internet Web site: http://www.duke-energy.com/investors/corporate.htm and is available in print to any shareholder who requests it.

Duke Energy also has adopted its "Principles of Corporate Governance," which addresses, among other things, director and board committee responsibilities. These guidelines, and the charters of each of the committees of Duke Energy’s board of directors, are posted on Duke Energy’s Internet Web site: http://www.duke-energy.com/investors/corporate.htm and are available in print to any shareholder who requests it.