News Release
Sept. 09, 1999

DUKE ENERGY TO ISSUE $1 BILLION OF GLOBAL SENIOR NOTES

CHARLOTTE – Duke Energy announced today that it is preparing to issue $1 billion of global Senior Notes through its subsidiary Duke Capital Corporation, marking the first time the company has issued global notes.

"We will be issuing these notes to fund growth in the company’s unregulated businesses," said David Hauser, senior vice president and treasurer of Duke Energy. "Duke Capital management will meet with global investors in Europe and the United States during the next week in preparation for the sale."

Duke Capital Corporation has retained Merrill Lynch & Co. and J. P. Morgan & Co. to jointly manage the sale.

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: www.duke-energy.com

Contact: Bryant Kinney
Phone: (704) 382-2208
24 Hour Phone: (704) 382-8333
Email: jbkinney@duke-energy.com