News Release
Jan. 05, 1999

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. The dividend is payable on March 16, 1999, to shareholders of record on Feb. 12, 1999.

This is the 73rd 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 March 16 to shareholders of record on Feb. 12.

Duke Energy (NYSE:DUK) is a global energy company with more than $26 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. Additional information about the company is available on the Internet at: www.duke-energy.com.

Contact: Randy Wheeless
Phone: (704) 382-8379
24 Hour Phone: (704) 594-0681
Email: media_relations@duke-energy.com