News Release
Oct. 17, 1999

Duke Energy International signs third NSW gas deal

Duke Energy International (DEI) finalized its third gas supply agreement in four weeks with the signing of a deal to deliver gas to Integral Energy Australia (IEA) for retail to the New South Wales market.

The agreement between IEA and Duke Energy Australia Trading and Marketing (DEATM), a unit of DEI, establishes a highly competitive gas market for NSW and demonstrates DEI’s commitment to spurring industrial growth through competition.

DEI Managing Director (Asia Pacific) Michael McDanold said the company’s expertise in wholesale gas supply management would position DEI as the leader in the dynamic and growing Australian market.

"Major customers now have viable and competitive alternatives for the supply of gas in NSW for the first time," he said.

IEA will buy gas from DEATM through the existing infrastructure as of this month. Beginning in October 2000, the gas will be transported through the Eastern Gas Pipeline.

DEI is the owner, builder and operator of the Eastern Gas Pipeline. The company is the international development and asset management unit of Duke Energy. DEI develops, owns and operates energy projects including natural gas and electric assets, as well as marketing and trading operations throughout the Asia Pacific, Europe and Latin America.

Duke Energy, (NYSE: DUK) is a global energy company with more than US$29 billion in assets. Headquartered in Charlotte, North Carolina, the company reaches into more than 50 countries, producing energy, transporting energy, marketing energy and providing energy services. Additional information about the company is available on the Internet at: www.duke-energy.com.

Contact: Michelle Barry
Phone: +61 7 3334 5864
24 Hour Phone: +61 04 1479 0480
Email: media-relations@duke-energy.com