News Release
Dec. 12, 2000

MEYER PROMOTED TO SENIOR VICE PRESIDENT AT DUKE ENERGY

CHARLOTTE, N.C. – Sandra Meyer has been promoted to senior vice president and corporate controller for Duke Energy.

Meyer will plan and direct the accounting affairs of Duke Energy, including preparation of financial statements and accounting and regulatory reports.

Meyer joined the corporation in 1976, holding various accounting positions of increasing responsibility with Texas Eastern Corporation subsidiaries. She became director of statements and reports for PanEnergy Corp. in 1989 after its merger with Texas Eastern. She was elected vice president and controller in 1994 and was named to the additional position of treasurer in 1996. Meyer was appointed vice president, Duke Power planning and finance, following PanEnergy's merger with Duke Power in 1997. She was named vice president and corporate controller for Duke Energy in 1999.

A native of Hobbs, N.M., Meyer received a bachelor of science degree in accounting from Louisiana State University. She is also a graduate of Harvard University's Advanced Management Program. She is a certified public accountant in Texas and North Carolina.

Meyer is a member of the North Carolina Association of CPAs and has served as advisory director of the Houston Chapter of the Texas Society of CPAs. Meyer is also a member of the

American Institute of Certified Public Accountants, as well as an active board member for Child Care Resources, Inc. and the Financial Executives Institute (FEI) Southern Carolinas Chapter. She served as past president of FEI's Houston Chapter. Meyer also served as president and board member of the ESCAPE Family Resource Center in Houston.

Meyer and her husband, Jerry, have two sons.

Duke Energy, a diversified multinational energy company, creates value for customers and shareholders through an integrated network of energy assets and expertise. Duke Energy manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses -- generating revenues of nearly $22 billion in 1999. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: http://www.duke-energy.com

Contact: Randy Wheeless
Phone: 704/382-8379
24 Hour Phone: 704/382-8333
Email: crwheele@duke-energy.com