News Release
Sept. 27, 1999

PROPOSED DUKE ENERGY PLANT PROMISES JOBS, TAX REVENUES FOR NEWCASTLE

HOUSTON -- Duke Energy North America, one of the nation’s most respected developers of electric generation, said this week it is considering building a $170 million natural gas-fueled power plant in Newcastle, Okla.

The plant would help meet rapidly growing electricity needs in Oklahoma, where new all-time demand records were set when temperatures soared this summer.

During the 18-month construction period, the project would employ from 150 to a peak of 300 people. Once in operation, the plant would have about 25 permanent employees. Duke Energy’s policy is to hire locally, so area residents would benefit directly from the jobs created by the project.

"This facility would be a good neighbor in Newcastle," said Richard Kuhn, project director. "By increasing the tax base, it would help provide money for roads, schools, parks, libraries and other projects that would make the community an even better place to live. It appears the plant’s value would equal or exceed the town’s current tax base. "

The proposed 500-megawatt plant would be fueled with clean-burning natural gas to minimize emissions. Its environmentally advanced, "combined-cycle" design uses significantly less fuel than a traditional gas-fired plant.

"Duke Energy has a long history of environmental stewardship in the construction and operation of power plants," Kuhn said. "We take pride in assuring that our facilities are always good neighbors."

In a Fortune magazine survey released earlier this year, Duke Energy was rated the country’s "Most Admired Gas and Electric Utility." Duke Energy North America is the Houston-based power generation development and management subsidiary of Duke Energy.

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