News Release
May 11, 2000

DUKE ENERGY INTERNATIONAL APPOINTS EXECUTIVE VICE PRESIDENT, GLOBAL TRADING/MARKETING & RISK MANAGEMENT

HOUSTON/SYDNEY– Duke Energy International (DEI) announced today the appointment of Kevin Howell as executive vice president, Global Trading/Marketing & Risk Management. Howell will assume responsibility for global risk management, trading and marketing, business development and portfolio origination. He will also lead DEI’s international e-commerce trading and marketing activities. The position reports to DEI President and Chief Executive Officer Bruce Williamson.

"Trading and marketing in the converging markets of Asia Pacific, Latin America and Europe are the cornerstones of our energy merchant business," said Williamson. "As a key member of DEI’s Asia Pacific team, Howell orchestrated the first competitive natural gas transactions in the region and established DEI as Australia’s first energy merchant. His expertise in asset development and energy trading provides a unique and strategic value to our team and will enhance the growth potential for Duke Energy’s global trading and marketing businesses."

Howell is presently group general manager, commercial development of DEI’s Asia Pacific region. He is responsible for all asset development for Duke Energy in the region, along with responsibility for energy trading activities in Australia.

Howell joined Panhandle Eastern Pipe Line (PEPL) in 1978 in the maintenance group. In 1980, he became a gas controller in the Kansas City, Mo., operations for PEPL, a position he held for seven years. In 1989, Howell relocated to Tulsa, Okla., as director of gas operations for Associated Natural Gas Inc, a predecessor to present day Duke Energy Trading and Marketing, LLC (DETM). Howell was promoted to vice president of southeast trading for PanEnergy Trading and Market Services following PanEnergy's acquisition of Associated Natural Gas. A year later, he was promoted to senior vice president of commercial operations for DETM, following the PanEnergy merger with Duke Power Company. Kevin relocated to Sydney in September 1998.

Duke Energy International (DEI), a wholly owned subsidiary of Duke Energy, is one of the world’s leading international energy companies offering energy trading and marketing, risk management, natural gas and power development expertise and operations services across Latin America, Asia-Pacific and Europe.

Duke Energy, a diversified multi-national 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: www.duke-energy.com.

Contact: Jennifer Pierce
Phone: 01-713-627-5719
24 Hour Phone: 704-594-0681
Email: jmpierce@duke-energy.com
Contact: Richard Morgan
Phone: 01-713-627-5591
24 Hour Phone: 704-594-0681
Email: rsmorgan@duke-energy.com
Contact: Michelle Barry
Phone: 61-2-8223-2000
24 Hour Phone: 704-594-0681
Email: mlbarry@duke-energy.com