News Release
Oct. 28, 1997

DUKE ENERGY CORPORATION DECLARES QUARTERLY DIVIDEND

CHARLOTTE, N. C., Oct. 28, 1997 – Duke Energy Corporation’s (NYSE:DUK) board of directors today approved a quarterly cash dividend on the company’s common stock of 55 cents a share – unchanged from its previous level. The dividend is payable on Dec. 16, 1997, to shareholders of record on Nov. 14, 1997.

This is the 71st consecutive year that Duke Energy or its predecessor, Duke Power Co., has paid quarterly cash dividends on its common stock. The Duke Energy board of directors also announced that the company will be paying quarterly dividends on its preferred stocks on Dec. 16 to shareholders of record on Nov. 14.

Duke Energy Corporation 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: Randy Wheeless
Phone: 704-382-8379
24 Hour Phone: 704-594-0681
Email: crwheele@duke-energy.com