News Release
Sept. 01, 1999

DUKE ENERGY ANNOUNCES LEADERSHIP CHANGES

CHARLOTTE, N.C. Duke Energy officials today announced two leadership changes. Effective September 1, Sandra P. Meyer will become Duke Energy’s vice president and corporate controller, and Jeffrey L. Boyer will become vice president planning and finance for Duke Power.

The two executives are exchanging positions. "The moves will give both executives opportunities to expand their experience," said Richard J. Osborne, executive vice president and Duke Energy’s chief financial officer. "It will also help us give greater depth and breadth to our finance functions."

Meyer joined Texas Eastern Corporation in 1978, holding various accounting positions of increasing responsibility with Texas Eastern subsidiaries. After Texas Eastern’s 1989 merger with PanEnergy Corp., Meyer was named vice president and controller of PanEnergy in 1994.

Two years later she was also named PanEnergy’s treasurer. Meyer was named vice president planning and finance for Duke Power following PanEnergy’s 1997 merger with Duke Power Company.

The Hobbs, New Mexico, native graduated from Louisiana State University with a degree in accounting and from the Harvard Business School’s advanced management program. She is a certified public accountant.

Boyer joined Duke Power in 1978 as an accounting assistant. After a number of staff, supervisory and management assignments, Boyer was named Duke Power’s controller in 1994. He was named vice president and corporate controller for Duke Energy following Duke Power’s 1997 merger with PanEnergy to create Duke Energy.

The Boyertown, Pa., native graduated from Wake Forest University with a degree in accounting and is a certified public accountant.

Duke Energy (NYSE:DUIK) 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: http://www.duke-energy.com.

Contact: Joe Maher
Phone: (704) 382-8323
24 Hour Phone: (704) 382-8333
Email: jmaher@duke-energy.com