News Release
July 19, 1999

DUKESOLUTIONS WINS $19 MILLION CONTRACT FOR CANADIAN LANDMARK

Charlotte – DukeSolutions will undertake a number of building and energy initiatives at the Toronto Dominion Centre, Canada’s largest office complex, as part of a $19 million (U.S.) contract announced today. DukeSolutions, the energy solutions subsidiary of Duke Energy, has been awarded a contract for an integrated energy alliance that will help the centre to maintain its competitiveness and attract, serve and retain customers.

DukeSolutions will install lighting fixtures and lighting control systems, perform power quality remediation, complete extensive modifications to ventilation systems, and replace aging mechanical and electrical equipment. Also, the company will develop strategies for the procurement of steam, chilled water and electricity at the complex. With the addition of this contract, DukeSolutions now serves four of the five largest commercial property owners in Canada.

Toronto Dominion Centre is one of Canada’s premier business addresses. At the heart of Toronto’s financial district at King and Bay streets, this 4.5 million square foot, mixed-use complex opened with one tower in 1967. Now boasting six Class A office towers, the complex features a retail component with 70 stores and services and two food courts located at the hub of downtown Toronto’s unique 11 kilometer network of underground shopping concourses – the largest underground walkway system in North America. The Toronto Dominion Centre is owned and managed by Cadillac Fairview, one of the larger owners, managers and developers in Canada and the United States, in partnership with the Toronto Dominion Bank.

Upgrades will bring better lighting quality, improved comfort control and enhanced building services to the 20,000 professionals who work in the centre. According to Michael Miceli, vice president and general manager, Toronto Dominion Centre, "the more than 20,000 people who work at the centre want leading-edge building systems to ensure a productive, high-performance office environment. It’s our mandate to deliver these systems while also recognizing the importance of energy conservation." He added, "we chose DukeSolutions because of their growing reputation as a North American leader in the delivery of energy services."

With DukeSolutions' help, Toronto Dominion Centre will annually save enough energy to power 6,000 homes. The project is part of Toronto’s Better Building Partnership, a public/private initiative that urges building owners in the city to conduct energy efficiency retrofits and building modernization. The partnership goals include a 20 percent reduction of CO2 emissions, job creation and the renewal of the city’s aging building stock. Cadillac Fairview (NYSE: CDF) owns interests in or manages 102 dominant office and retail properties in North America totaling approximately 51 million square feet, including 11 shopping centers in the United States totaling over 9 million square feet. (Visit Cadillac Fairview’s website at www.cadillacfairview.com).

DukeSolutions is a rapidly growing North American energy services company, with 22 offices in the United States and Canada. The company helps customers make the most of their assets and increase cash flow and earnings through integrated energy solutions that reduce costs and improve energy efficiency. Serving industrial, commercial, institutional and governmental customers, DukeSolutions implements a full range of energy services including energy supply and logistics, reliability and risk management, on-site utility, information management and efficiency and productivity services. DukeSolutions is a wholly owned subsidiary of Duke Energy. For more information visit http://www.dukesolutions.com.

Duke Energy (NYSE:DUK) is a global energy company with more than $26 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 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. For more information visit http://www.duke-energy.com.

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