News Release
Dec. 10, 1998

DUKE ENERGY NAMED THE WORLD’S MOST RESPECTED UTILITY IN SURVEY BY FINANCIAL TIMES NEWSPAPER

Duke Energy was named the most respected utility in the world in a survey of chief executive officers conducted by England’s Financial Times newspaper.

In the newspaper’s annual survey of corporate reputation, published Nov. 30, the newspaper polled CEOs from 53 countries to come up with its rankings. Duke Energy was listed as the top utility – followed by Great Britain’s National Power. Overall, General Electric and Microsoft were the top ranked companies respectively in all sectors.

"This ranking is a tribute to the work of 22,000 Duke Energy employees, who are bringing innovative thinking to the energy industry worldwide," said Richard B. Priory, chairman, president and CEO of Duke Energy. "Going forward, we will strive to remain focused on delivering top-quality, energy solutions to our customers, who expect the best from Duke Energy."

This was the first time in the newspaper’s annual survey that American companies had been included. Previously, only European companies were ranked.

Established in 1888, the Financial Times has one of the largest editorial staffs of any international newspaper, with 300 journalists in 50 cities worldwide.

Duke Energy (NYSE:DUK) is a global energy company with more than $24 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