News Release
Dec. 20, 1999

DUKESOLUTIONS, FORMICA CORPORATION REACH ON-SITE UTILITIES AGREEMENT

CHARLOTTE, N.C. -- DukeSolutions and Formica have reached an on-site utilities agreement that will provide a steam generating facility at Formica’s Evendale, Ohio, facility, Formica’s largest plant. Groundbreaking occurred in late October.

Under the terms of the 15-year agreement, DukeSolutions will design, permit, own, operate and maintain a 6,486 square-foot plant, and sell steam to Formica. Formica uses steam to heat large hydraulic presses used in production of laminate. The upgraded facility will boost steam production by approximately 18 percent by replacing three coal and two natural gas steam boilers with three natural gas/oil boilers and one waste wood boiler.

"DukeSolutions creates value by mitigating Formica’s risk in boiler plant performance and allowing greater focus on their core business," said Jack Menninger, DukeSolutions vice president for the Midwest region in Cincinnati. "We help customers to not only increase efficiency of their facilities through energy cost reduction measures, but we manage and update energy infrastructure."

Established in 1913 and headquartered in Warren, N.J., Formica has four other manufacturing facilities in North America: Mount Bethel, Pa.; Odenton, Md.; St. Jean, Quebec; and Rocklin, Calif. Formica is the world’s leading producer of high-pressure decorative laminates. With 1,000 employees and nearly one million square feet of facility space, the Evendale site is Formica’s largest laminate manufacturing plant.

DukeSolutions is one of the fastest growing energy service companies in North America. The company, a wholly owned subsidiary of Duke Energy, provides integrated energy solutions including efficiency and productivity, outsourced utilities, transitional energy, supply and operations, information management and financing services.

Duke Energy (NYSE:DUK) is a global energy company with more than $29 billion in assets. Headquartered in Charlotte, N.C., the company reaches into more than 50 countries, producing energy, transporting energy, marketing energy and providing energy services. In the United States, Duke Energy companies provide electric service to approximately two million customers in North Carolina and South Carolina; operate interstate pipelines that deliver natural gas to various regions of the country; and are leading marketers of electricity, natural gas and natural gas liquids. Additional information about the company is available on the Internet at:

www.duke-energy.com

Contact: Rick Wirth
Phone: (704)373-6611
24 Hour Phone: (704) 382-8333
Email: rfwirth@duke-energy.com
Contact: Danny Gibbs
Phone: (704)373-6680
24 Hour Phone: (704) 382-8333
Email: dpgibbs@duke-energy.com