News Release
Jan. 28, 2000

Duke Energy Declares Quarterly Dividend

CHARLOTTE, N. C. - Duke Energy's board of directors today announced its quarterly cash dividend on the companies common stock of 55 cents a share.  The dividend is payable on March 16, 2000, to shareholders of record on Feb. 11, 2000.

This is the 74th consecutive year that Duke Energy has paid quarterly cash dividends on its common stock.

The Duke Energy board of directors also announced that the company would be paying quarterly dividends on its preferred stocks on March 16 to shareholders of record on Feb. 11.

Duke Energy, a premier global energy services company, serves customers and creates shareholder value through an integrated network of energy assets and energy experts. As market leaders in their respective fields, Duke Energy businesses manage a multi-national portfolio of energy supply, delivery and trading assets valued at approximately $30 billion. 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: www.duke-energy.com.

Contact: Paul Mason
Phone: 704-373-4512
24 Hour Phone: 704-382-8333
Email: pemason@duke-energy.com