News Release
June 17, 1998

DUKE ENERGY CORP. ANNOUNCES EXECUTIVE CHANGES; HAUSER, NORRIS AND McMEEKIN ASSUME NEW ROLES

CHARLOTTE, N.C. — Duke Energy Corporation today announced a number of executive appointments and changes:

David L. Hauser has been elected senior vice president and treasurer of Duke Energy. For the past year, Hauser had been senior vice president and chairman of Duke Energy’s Global Asset Development. He succeeds Paul F. Ferguson, who has decided to leave the company to pursue other interests. Ferguson had previously been chief financial officer at PanEnergy Corp from 1995 until PanEnergy and Duke Power Co. merged in 1997 to form Duke Energy.

John F. Norris Jr. will succeed Hauser as senior vice president of Duke Energy and chairman and chief executive officer of Global Asset Development. For the past nine years, Norris has been president and chief executive officer of the Duke Energy business unit, Duke Engineering & Services, Inc.

Ted McMeekin will succeed Norris as president and chief executive officer of Duke Engineering & Services. McMeekin is currently senior vice president of power generation for Duke Energy’s electric operations business unit Duke Power.

Hauser, 46, will assume key responsibility for the corporate finance, business unit finance, insurance and long-term investment departments for Duke Energy.

A native of High Point, Hauser earned his undergraduate degree in business from Furman (S.C.) University and his Masters in Business Administration from the University of North Carolina at Charlotte. He joined Duke Power in 1973 and worked his way up through the accounting area of the company — being named controller of Duke Power in 1987. In 1994, he was named vice president of procurement services and materials —overseeing all facets of commodity acquisition and warehousing, construction and maintenance of commercial facilities and fleet management. He was named chairman, Global Asset Development in 1997.

Norris, 49, will lead Global Asset Development, which comprises three Duke Energy business units: Duke Energy Power Services, LLC, which engages in power asset and development throughout North America; Duke Energy International, LLC, which develops owns, manages and operates energy facilities worldwide; and Duke Energy Industrial Asset Development, LLC, which engages in business development and equity investments in energy assets of large industrial companies in the U.S. Norris will continue to be chairman of Duke Engineering & Services.

A native of Orangeburg, S.C., Norris earned his undergraduate degree in engineering from N.C. State University. He served 10 years in the U.S. Air Force before joining Duke Power in 1982 as an assistant engineer. In 1989, he was named president and chief executive officer of Duke Engineering & Services, which provides engineering and technical services to energy and environmental clients worldwide, with projects in more than 50 countries.

McMeekin, 55, will become president and chief executive officer of Duke Engineering & Services, which employs about 3,000 people worldwide.

A native of Brockway, Pa., McMeekin earned his undergraduate degree in engineering from Pennsylvania State University. After a stint in the U.S. Navy, he joined Duke Power in 1970 as an associate engineer in the design engineering department. He progressed through several positions in that department — being named vice president of design engineering in 1988. In 1991, he was named vice president of Duke’s McGuire Nuclear Site. In 1997, he was named senior vice president of power generation — overseeing more than 12,000 megawatts of hydroelectric, coal-fired and gas-fired generation as well as the company’s System Operating Center and bulk power marketing functions.

Duke Energy Corporation (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