News Release
Sept. 08, 1998

DUKE ENERGY INTERNATIONAL NAMES MCDANOLD, WILT AND DILL TO KEY POSITIONS

HOUSTON — Duke Energy International (DEI), the international development and asset management arm of Duke Energy Corporation that develops, owns and operates energy projects worldwide, announces a new regional structure and the placement of three employees in key positions.

Under the new structure, DEL will pursue its strategies in three distinct international regions: Latin America, Europe and Asia. Initial leadership appointments include: Michael McDanold, who joins DEL as executive vice president for the Asian region; Peter Wilt, formerly a company managing director, has been named vice president, Southern Latin America; and Julie Dill joins DEL as vice president, planning and finance and chief financial officer. All report to Bruce Williamson, president and chief executive officer of DEI.

McDanold manages all aspects of business development, business management, project acquisition and operations for the Far East. "Michael has more than 18 years of experience in energy and natural resources," Williamson said, "and has served in a series of leadership positions. Foremost, he brings to us a depth of experience in the Australian market where we have recently purchased the Queensland Gas Pipeline and related assets. He will be a great addition as we look at other opportunities throughout the Far East."

Wilt, as vice president, Southern Latin America, oversees a major focus market for DEl. "Peter is a proven manager of functions and people," Williamson said. "We will continue to leverage his years of international business development experience as we grow our business in this important region."

Dill’s responsibilities include economic and strategic analysis, planning and all aspects of financial and management accounting. "Julie will be a great addition to the DEl team. She has proven to be a strong performer and manager throughout her career," Williamson said. "She will set a high standard as the organization’s initial CFO."

McDanold previously was managing director, Australia, for PG&E Corporation. Before joining PG&E in 1995 as general counsel of Pacific Gas Transmission Company in Portland, Oregon, he was in private practice there. McDanold has been affiliated with a number of law firms and served in executive roles with Nerco Oil and Gas Company and United Gas Pipeline Company.

He has a bachelor of science degree in physics from Michigan State University and his juris doctor degree was earned from Georgetown University Law Centre.

Prior to joining Duke, Wilt was vice president — international energy services for Enron Capital and Trade Resources, one of several positions of increasing responsibility he held with Enron Corporation companies from 1987 to 1997. Previously, he was vice president of rates and regulatory affairs for Transcontinental Gas Pipeline Corporation.

He earned a bachelor of business administration degree from the University of Texas at Austin.

Dill joins DEI from Shell Oil Company where she had worked since 1981 in a variety of leadership positions in upstream, midstream and downstream businesses. Most recently, she was fiscal director for transportation.

Dill graduated magna cum laude from New Mexico State University with a bachelor of business administration degree in finance.

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: Danny P. Gibbs
Phone: (704) 373-6680
24 Hour Phone: (704) 382-8333
Email: dpgibbs@duke-energy.com