News Release
Oct. 27, 1998

DUKE ENERGY DECLARES QUARTERLY DIVIDEND

CHARLOTTE, N.C. -- Duke Energy’s board of directors today approved its quarterly cash dividend on the company's common stock of 55 cents a share -- unchanged from its previous level. The dividend is payable on Dec. 16, 1998, to shareholders of record on Nov. 13, 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 would be paying quarterly dividends on its preferred stocks on Dec. 16 to shareholders of record on Nov. 13.

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: Randy Wheeless
Phone: (704) 382-8379
24 Hour Phone: (704) 382-8333
Email: media-relations@duke-energy.com