News Release
April 16, 1998

DUKE ENERGY CORP. DECLARES DIVIDEND

CHARLOTTE, N.C., April 16, 1998 -- Duke Energy Corporation’s 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 June 16, 1998, to shareholders of record on May 15, 1998.

This is the 72nd consecutive year that Duke Energy 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 June 16 to shareholders of record on May 15.

Duke Energy (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: Randy Wheeless
Phone: 704-382-8379
24 Hour Phone: 704-382-8333
Email: crwheele@duke-energy.com