Sandra P. Meyer To Lead Cincinnati Gas & Electric Co.

CINCINNATI, December 19, 2005 — Cinergy Corp. and Duke Energy today announced that Sandra P. Meyer, group vice president, customer service, sales and marketing, for Duke Power, will become president of The Cincinnati Gas & Electric Company upon completion of the merger of Duke Energy and Cinergy.

Meyer, 51, will be responsible for rates, regulatory and legislative affairs, economic development and customer and community relations for CG&E. She will report to Jim Turner, currently Cinergy president, who was earlier named to lead the new company’s franchised electric and gas commercial functions in the United States.

“Meyer’s strong customer service and financial background has served Duke Power well in recent years in both retail and wholesale markets, and she is ideally suited for this position,” said Turner. “She has a deep knowledge of the utility business.”

Meyer will succeed Gregory C. Ficke, who has served CG&E and Cinergy for 28 years and has decided to leave the company to pursue leadership opportunities with other organizations likely in the Greater Cincinnati area. “Greg will assist Sandra in this transition for at least one year before leaving. We appreciate Greg’s long service and stewardship to CG&E and Cinergy and the standard of leadership he has set,” Turner said.

“I look forward to working with Sandra and introducing her to the Greater Cincinnati and Northern Kentucky communities. She has my total support and I am confident she will continue Cinergy’s longstanding commitment to meeting the energy, economic and community needs of this region,” Ficke said.

A native of Hobbs, N.M., Meyer joined Texas Eastern Corporation in 1976 as a junior accountant. After a series of promotions with Texas Eastern and its successor, PanEnergy, she was elected vice president and controller in 1994 and named to the additional position of treasurer in 1996. Since Duke’s merger with PanEnergy, Meyer served in financial leadership positions until she was named senior vice president of retail services in May 2001. Meyer began working in her current role in 2003.

Meyer received a bachelor of science degree in accounting from Louisiana State University and is a graduate of Harvard University’s Advanced Management Program. She is a certified public accountant in North Carolina and Texas.

Meyer is active in the community and currently serves on the executive committees of the Charlotte Regional Partnership and Advanced Energy Corporation, a nonprofit organization established by the North Carolina Utility Commission. She and her husband, Jerry, have two sons.

Cinergy/CG&E and Cinergy/ULH&P serve approximately 800,000 customers in southwest Ohio and Northern Kentucky and are affiliates of Cinergy Corp. (NYSE:CIN), which has a balanced, integrated portfolio consisting of two core businesses: regulated operations and commercial businesses. Cinergy’s regulated public utilities in Ohio, Indiana, and Kentucky serve 1.5 million electric customers and about 500,000 gas customers. In addition, its Indiana regulated company owns 7,000 megawatts of generation. Cinergy’s competitive commercial businesses have 6,300 megawatts of generating capacity with a profitable balance of stable existing customer portfolios, new customer origination, marketing and trading, and industrial-site cogeneration. Cinergy’s integrated businesses make it a Midwest leader in providing both low-cost generation and reliable electric and gas service.

Duke Energy is a diversified energy company with a portfolio of natural gas and electric businesses, both regulated and unregulated, and an affiliated real estate company. Duke Energy supplies, delivers and processes energy for customers in the Americas. Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: http://www.duke-energy.com.

This document includes statements that do not directly or exclusively relate to historical facts. Such statements are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements include statements regarding benefits of the proposed mergers and restructuring transactions, integration plans and expected synergies, anticipated future financial operating performance and results, including estimates of growth. These statements are based on the current expectations of management of Duke Energy and Cinergy. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this document. For example, (1) the companies may be unable to obtain shareholder approvals required for the transaction; (2) the companies may be unable to obtain regulatory approvals required for the transaction, or required regulatory approvals may delay the transaction or result in the imposition of conditions that could have a material adverse effect on the combined company or cause the companies to abandon the transaction; (3) conditions to the closing of the transaction may not be satisfied; (4) problems may arise in successfully integrating the businesses of the companies, which may result in the combined company not operating as effectively and efficiently as expected; (5) the combined company may be unable to achieve cost-cutting synergies or it may take longer than expected to achieve those synergies; (6) the transaction may involve unexpected costs or unexpected liabilities, or the effects of purchase accounting may be different from the companies’ expectations; (7) the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; (8) the businesses of the companies may suffer as a result of uncertainty surrounding the transaction; (9) the industry may be subject to future regulatory or legislative actions that could adversely affect the companies; and (10) the companies may be adversely affected by other economic, business, and/or competitive factors. Additional factors that may affect the future results of Duke Energy and Cinergy are set forth in their respective filings with the Securities and Exchange Commission ("SEC"), which are available at www.duke-energy.com/investors and www.cinergy.com/investors, respectively. Duke Energy and Cinergy undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Additional Information and Where to Find It
In connection with the proposed transaction, a registration statement of Duke Energy Holding Corp., which includes a joint proxy statement of Duke Energy and Cinergy, and other materials have been filed with the SEC. WE URGE INVESTORS TO READ THE REGISTRATION STATEMENT AND PROXY STATEMENT AND THESE OTHER MATERIALS CAREFULLY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT DUKE ENERGY, CINERGY, DUKE ENERGY HOLDING CORP., AND THE PROPOSED TRANSACTION. Investors may obtain free copies of the registration statement and proxy statement as well as other filed documents containing information about Duke Energy and Cinergy at http://www.sec.gov, the SEC's Web site. Free copies of Duke Energy’s SEC filings are also available on Duke Energy’s Web site at www.duke-energy.com/investors, and free copies of Cinergy’s SEC filings are also available on Cinergy’s Web site at www.cinergy.com/investors.

Participants in the Solicitation
Duke Energy, Cinergy and their respective executive officers and directors may be deemed, under SEC rules, to be participants in the solicitation of proxies from Duke Energy’s or Cinergy’s stockholders with respect to the proposed transaction. Information regarding the officers and directors of Duke Energy is included in its definitive proxy statement for its 2005 annual meeting filed with the SEC on March 31, 2005. Information regarding the officers and directors of Cinergy is included in its definitive proxy statement for its 2005 annual meeting filed with the SEC on March 28, 2005. More detailed information regarding the identity of potential participants, and their direct or indirect interests, by securities, holdings or otherwise, will be set forth in the registration statement and proxy statement and other materials to be filed with the SEC in connection with the proposed transaction.