News Release
June 16, 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 September 16, 1999, to shareholders of record on August 13, 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 September 16 to shareholders of record on August 13.

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 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: http://www.duke-energy.com.

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