News Release
April 09, 1998

DUKE ENERGY: CEO RICHARD PRIORY TO BE HONORED BY CHARLOTTE ENGINEERS CLUB

Richard Priory, Duke Energy Corporation chairman and chief executive officer, will be honored April 20 with the Distinguished Service Award given by the Charlotte Engineers Club.

Priory is the 53rd person honored by the organization over the years. The event, to be held at Charlotte’s Marriott Executive Park, is held annually to honor an engineer who has advanced the engineering profession through service to the club or through service to the community at large. John F. Norris, Jr., president and chief executive officer of Duke Engineering & Services, Inc., a major Duke Energy subsidiary, will be the keynote speaker.

"Rick Priory has been a true champion of the engineering profession, " said Gary Greene, president of the Charlotte Engineers Club. "He has taught the science to young people; he has been a skilled practitioner of the craft; and today he is using his engineering skills to lead one of the world’s largest energy companies."

The Lakehurst, N.J., native graduated magna cum laude from West Virginia Institute of Technology with a bachelor of science in civil engineering and received a master of science in engineering from Princeton University. A registered professional engineer in North Carolina and South Carolina, Priory is a graduate of the University of Michigan’s Public Utility Executive Program and Harvard University’s Advanced Management Program.

Priory was a design and project engineer at Union Carbide Corporation from 1969 to 1972. He served as an assistant professor of structural engineering at the University of North Carolina at Charlotte from 1973 to 1976.

Priory was an engineering consultant to Duke Power from 1974 to 1976 and joined the company as a design engineer in 1976. He held positions of increasing responsibility in engineering and project management and was elected vice president, design engineering, in 1984. He was named senior vice president of generation and information services in 1988 and elected to the board of directors in 1990. He was elected executive vice president, power generation group, in 1991 and president and chief operating officer in 1994. In 1997, he was named chairman and chief executive officer of Duke Energy -the newly merged company of Duke Power and Houston-based PanEnergy Corp.

He was elected to membership in the National Academy of Engineering, and serves on the boards of the Institute of Nuclear Power Operations and the Edison Electric Institute. Priory is also a member of the corporate boards of NationsBank Corporation, the Dana Corporation and J. A. Jones Applied Research Company.

Tickets for the 7 p.m. function are $19. The ticket also includes a social hour before the event. For more information, contact Gary Greene at (704) 366-7125; or Jeff Ashe at (704) 382-7605.

The Charlotte Engineers Club was formed in 1922 as a combination of several other engineering clubs - the earliest of which was formed in 1906. Today, the club has about 350 members.

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: 704 382-8333
Email: crwheele@duke-energy.com