News Release
June 19, 1997

DUKE ENERGY BOARD MEMBERS ANNOUNCED

CHARLOTTE, N.C. -- Sixteen members of the Duke Energy board of directors were elected at the board’s first meeting on Wednesday.

Duke Energy was formed by the merger of Duke Power and Houston-based PanEnergy Corp. That merger was finalized on Wednesday. The board is composed of 10 former Duke Power board members and six former PanEnergy board members.

The board members:

Richard B. Priory, chairman and chief executive officer of Duke Energy. He had previously been a Duke Power board member.

Paul M. Anderson, president and chief operating officer of Duke Energy. He had previously been a PanEnergy board member.

William A. Coley, group president of the electric utility, Duke Power -- a Duke Energy company. He had previously been a Duke Power board member.

G. Alex Bernhardt Sr., chairman of chief executive officer Bernhardt Furniture Company of Lenoir. He had previously been a Duke Power board member.

Robert J. Brown, chairman and president of B&C Associates Inc., a marketing and research firm in High Point. He had previously been a Duke Power board member.

William T. Esrey, chairman and chief executive officer of Sprint Corporation, a diversified telecommunications holding company in Westwood, Kan. He had previously been a PanEnergy board member.

Ann Maynard Gray, president of Diversified Publishing Group of ABC Inc. of New York City. She had previously been a PanEnergy board member.

Dennis R. Hendrix, former chairman and chief executive officer of PanEnergy. He had previously been a PanEnergy board member.

Harold S. Hook, former chairman of American General Corporation, a diversified financial services organization based in Houston. He had previously been a PanEnergy board member.

George Dean Johnson Jr., president and chief executive officer of Extended Stay America, an extended-stay lodging company. He had previously been a Duke Power board member.

W. W. Johnson, chairman of the executive committee of NationsBank Corporation of Charlotte. He had previously been a Duke Power board member.

Max Lennon, president of Mars Hill College in Mars Hill. He had previously been a Duke Power board member.

Leo E. Linbeck Jr., chairman, president and chief executive officer of Linbeck Corporation, a holding company of five construction-related firms in Houston. He had been a PanEnergy board member.

James G, Martin, Ph.D., vice president of research for Carolinas HealthCare System in Charlotte. He was governor of the State of North Carolina from 1985 to 1993. He had previously been a Duke Power board member.

Buck Mickel, retired vice chairman of the Fluor Corporation of Irvine, Calif. He had previously been a Duke Power board member.

Russell M. Robinson II, an attorney with Robinson, Bradshaw & Hinson, P.A. of Charlotte. He had previously been a Duke Power board member.

Duke Energy Corporation (NYSE:DUK) is a global energy company with more than $20 billion in assets. Duke Energy companies provide electric service to approximately 2 million customers; operate pipelines that deliver 12 percent of the natural gas consumed in the United States; and are leading marketers of electricity, natural gas and natural gas liquids. Globally the companies develop, own and operate energy facilities and provide engineering, management, operating and environmental services. Contact Duke Energy on the World Wide Web at http://www.duke-energy.com.

Contact: Joe Maher
Phone: 704-382-8323
24 Hour Phone: 704-594-0681
Email: jmaher@duke-energy.com