News Release
Sept. 11, 1997

DUKE ENERGY CORP. TO REDEEM BONDS

CHARLOTTE, N.C. -- Duke Energy Corporation today announced that on Oct. 3 the company will redeem four issues of first and refunding mortgage bonds.

Duke will redeem its 8 percent Series first and refunding mortgage bonds, due 2004, with a face value of $75 million. Bondholders will receive $1,036.87 per $1,000 principal amount held, plus accrued interest to the redemption date.

Duke will redeem its 8 3/8 percent Series first and refunding mortgage bonds, due 2021, with a face value of $150 million. Bondholders will receive $1,035.63 per $1,000 principal amount held, plus accrued interest to the redemption date.

Duke will redeem its 8 5/8 percent Series first and refunding mortgage bonds, due 2022, with a face value of $100 million. Bondholders will receive $1,061.88 per $1,000 principal amount held, plus accrued interest to the redemption date.

Duke will redeem its 8 3/4 percent Series first and refunding mortgage bonds, due 2021, with a face value of $150 million. Bondholders will receive $1,036.40 per $1,000 principal amount held, plus accrued interest to the redemption date.

The call notices for these issues were mailed to bondholders Sept. 3 by The Chase Manhattan Bank, the bond trustee.

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