News Release
Jan. 05, 1998

DUKE ENERGY CORP. DECLARES DIVIDEND

CHARLOTTE, N.C. -- Duke Energy Corporation’s board of directors has 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 March 16, 1998, to shareholders of record on Feb. 13, 1998.

This is the 72nd 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 March 16 to shareholders of record on Feb. 13.

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