Paul M. Anderson *
Director since 2003
Chairman of the Board and CEO, Duke Energy Corporation
Age 58

Mr. Anderson became Chairman of the Board and CEO in November 2003. He served as Managing Director and CEO of BHP Billiton LTD and BHP Billiton PLC from 1998 to his retirement in 2002, was President and Chief Operating Officer of Duke Energy from 1997 to 1998 and Chairman, President and Chief Executive Officer of PanEnergy Corp from 1995 to 1997, prior to the 1997 merger of PanEnergy Corp and Duke Energy. He is a director of Temple-Inland Inc. and Qantas Airways Limited. He is also a Global Counselor for The Conference Board Inc.

G. Alex Bernhardt, Sr.
Director since 1991
Chairman and CEO, Bernhardt Furniture Company,
furniture manufacturer
Age 61

Mr. Bernhardt has been associated with Bernhardt Furniture Company of Lenoir, North Carolina, since 1965. He was named President and a director in 1976 and became Chairman and CEO in 1996. He is a Class II director with a term expiring in 2005.

Robert J. Brown
Director since 1994
Chairman and CEO, B&C Associates, Inc.,
marketing research and public relations firm
Age 69

Mr. Brown founded B&C Associates, Inc., High Point, North Carolina, in 1960, served as its President from 1960 until 1968 and has been its Chairman and CEO since 1973. He is a director of Wachovia Corporation, Sonoco Products Company and AutoNation, Inc. He is a Class III director with a term expiring in 2006.

William T. Esrey
Director since 1985
Chairman Emeritus, Sprint Corporation,
a diversified telecommunications holding company
Chairman, Japan Telecom
Age 64

Mr. Esrey, Chairman Emeritus of Sprint Corporation, served as its CEO from 1985 to 2003, and as its Chairman from 1990 to 2003. Mr. Esrey became Chairman of Japan Telecom in 2003. Mr. Esrey is a director of General Mills, Inc., and served as a director of PanEnergy Corp since 1985. He is a Class III director with a term expiring in 2006.

Ann Maynard Gray *
Director since 1994
Former Vice President, ABC, Inc. and Former President,
Diversified Publishing Group of ABC, Inc.,
television, radio and publishing
Age 58

Ms. Gray was President, Diversified Publishing Group of ABC, Inc. from 1991 until 1997, and was a Corporate Vice President of ABC, Inc. and its predecessors from 1979 to 1998. She is a director of JP Morgan Funds, Elan Corporation, plc, and The Phoenix Companies, Inc. and served as a director of PanEnergy Corp since 1994.

George Dean Johnson, Jr.
Director since 1986
CEO, Extended Stay America, Inc.,
development, ownership and management of extended-stay lodging facilities
Age 61

Mr. Johnson was a co-founder of Extended Stay America, Inc. and has served as its CEO since 1995. He is a director of Extended Stay America, Inc., Boca Resorts, Inc. and Norfolk Southern Corporation. He is a Class III director with a term expiring in 2006.

A. Max Lennon, Ph.D.
Director since 1988
President, Education and Research Services,
nonprofit economic development organization
Age 63

Dr. Lennon was appointed to his present position in 2002. He was President of Mars Hill College from 1996 until 2002. He served as President of Eastern Foods, Inc. from 1994 through 1995. Dr. Lennon was previously involved in higher education from 1966 to 1994, his last tenure being at Clemson University where he served as President for eight years. He is a director of Delta Woodside Industries, Inc. and Delta Apparel. He is a Class II director with a term expiring in 2005.

Leo E. Linbeck, Jr.
Director since 1986
Senior Chairman, Linbeck Corporation,
holding company of two construction-related firms
Age 69

Mr. Linbeck assumed his present position in 2003. He was Chairman, President and CEO of Linbeck Corporation from 1990 to 2003, after serving as Chairman, President and CEO of Linbeck Construction Corporation from 1975 to 1990. He served as a director of PanEnergy Corp from 1986. He is a Class II director with a term expiring in 2005.

James G. Martin, Ph.D.
Director since 1994
Corporate Vice President, Carolinas HealthCare System, largest healthcare system in the Carolinas
Age 68

Dr. Martin was named to his present position in 1995. He served as Governor of the State of North Carolina from 1985 to 1993 and was a member of the United States House of Representatives, representing the Ninth District of North Carolina, from 1973 to 1984. Dr. Martin is a director of Palomar Medical Technologies, Inc., aaiPharma Inc. and Family Dollar Stores, Inc. He is a Class III director with a term expiring in 2006.

Michael E.J. Phelps *
Director since 2002
Chairman, Dornoch Capital Inc., investment company
Chairman, Duke Energy Canadian Advisory Council
Age 56

Mr. Phelps was named Chairman, Dornoch Capital Inc. in 2003 and Chairman, Duke Energy Canadian Advisory Council in 2002. He served as Chairman and Chief Executive Officer of Westcoast Energy Inc. from 1992 to 2002. He is a director of Canfor Corporation, Canadian Pacific Railway Company and Fairborne Energy Ltd.

James T. Rhodes, Ph.D. *
Director since 2001
Retired Chairman, President and CEO, Institute of Nuclear Power Operations, a nonprofit corporation promoting safety, reliability and excellence in nuclear plant operation
Age 62

Dr. Rhodes was Chairman and CEO of the Institute of Nuclear Power Operations from 1998 to 1999 and Chairman, President and CEO from 1999 until 2001. He served as President and CEO of Virginia Electric & Power Company, a subsidiary of Dominion Resources, Inc., from 1989 until 1997. He is a member of the Electric Power Research Institute's Advisory Council.