News Release
Oct. 25, 1999


HOUSTON — Duke Energy North America (DENA), a wholly owned subsidiary of Duke Energy, announced today the appointment of Mary Gilbert as senior vice president and chief financial officer (CFO). Gilbert will be responsible for DENA’s accounting, finance, market analysis, tax and treasury activities. She will report to DENA President and Chief Executive Officer Jim Donnell.

"Mary is a great addition to the dynamic leadership team we are building at DENA," said Donnell. "Her finance, accounting and tax background coupled with her acquisition, divestiture and business development experience is of tremendous value to DENA’ s merchant energy business."

Gilbert most recently served as senior vice president of finance for CHI Energy, Inc., a non-utility developer, owner and operator of hydroelectric and industrial energy facilities. She joined CHI in 1996 and also served as the company’s CFO. In her executive positions at CHI, Gilbert had responsibility for accounting, financial reporting, treasury, human resources, budgeting as well as information systems. While at CHI, Gilbert was extensively involved in the company s financial restructuring and business development efforts.

Gilbert also worked in executive positions with CRSS Inc., an architectural, engineering and construction services company. In 1989 she joined CRSS Capital Inc., its power project ownership and development subsidiary, as the controller and in 1992 was appointed CFO.

Gilbert was named CRSS Inc.’s vice president, controller in 1994. Before CRSS, Gilbert was an audit manager with Ernst & Young.

A certified public accountant, Gilbert received her bachelor of science in administration from the University of Colorado at Boulder.

Duke Energy North America (DENA), a unit of Duke Energy (NYSE: DUK), is a premier developer, owner and manager of a portfolio of merchant wholesale electric generation projects and facilities throughout the United States, Mexico and Canada.

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:

Contact: Jennifer Pierce
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