News Release
April 12, 2001

DUKE/FLUOR DANIEL TO BUILD FOUR POWER PLANTS FOR DENA

CHARLOTTE, N.C. – Duke/Fluor Daniel (D/FD) has been awarded contracts by Duke Energy North America (DENA) to perform engineering, procurement and construction (EPC) services for four natural gas-fueled, combined-cycle power generation facilities with a combined capacity of 3,050 megawatts. A total of 10 GE-7FA combustion turbines will be used in the four projects, which are targeted for commercial operation in summer 2002.

The four projects are: the 1,240-megawatt Murray Generating Facility in Murray County, Ga.; the 620-megawatt Hot Spring Generating Facility in Hot Spring County, Ark.; the 620-megawatt Washington Generating Facility in Washington County, Ohio; and the 570-megawatt Arlington Valley Energy Facility in Arlington Valley, Ariz.

"Including these contracts, we’re bringing more than 6,000 megawatts of generation on line for DENA in 2002," said Clarence Ray, president and chief executive officer of Duke/Fluor Daniel. "A real highlight of this ‘Class of 2002’ is the close collaboration and alignment our two companies developed at the front end of these contracts. This effectively enables us to better manage risk and uncertainties, both for us and our client."

"Wholesale merchant power plants are key to our energy merchant business. D/FD’s execution of our engineering and construction contracts assures us we’ll have the generating assets on line in time for the summer demand and keep our aggressive growth strategy on track," said Jim Donnell, president and chief executive officer of DENA.

In 2000, Duke/Fluor Daniel booked sales with revenues of more than $3.2 billion for more than 7,725 megawatts of generation. It commissioned 20 combustion turbine units for service during the peak summer generating season, 12 of which were for DENA.

With 2000 revenues of $10 billion, Fluor Corporation provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance, project management and business services.

Duke/Fluor Daniel provides comprehensive engineering, procurement, construction and operating plant services for fossil-fueled electric power generating facilities worldwide. The joint venture of Duke Energy and Fluor Corporation is one of the largest power contractors in the world and has the largest U.S. market share for the engineering and construction of natural gas-fired power projects. D/FD operating plant services supports utility, merchant and cogeneration plants, including operations and maintenance contracts, capital projects, environmental retrofits and other major plant improvements. For more information visit www.dukefluordaniel.com.

DENA is Duke Energy’s Houston-based merchant energy company. Currently DENA’s merchant portfolio includes 6,200 megawatts of generation located in the western, midwestern and eastern regions of the United States. By summer 2001, DENA will deliver six new merchant facilities totaling 3,400 megawatts. DENA also has more than 13,500 megawatts in advanced development and will construct between 10 and 12 new merchant facilities every year through 2003, expanding its merchant portfolio to more than 23,000 megawatts.

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 more than $49 billion in 2000. 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: Rick Rhodes
Phone: (704)382-3747
24 Hour Phone: (704)382-8333
Email: jrrhodes@duke-energy.com