News Release
Aug. 21, 2001

DUKE ENERGY ANNOUNCES EXECUTIVE APPOINTMENTS: INCREASES FOCUS ON SYNERGIES OF GLOBAL MARKET BUSINESSES

HOUSTON -- Duke Energy today announced the appointment of Bruce A. Williamson to the post of president and chief executive officer of Duke Energy Global Markets. In the newly created organization, Williamson will have responsibility for all Duke Energy business units with global commodities and international business positions. These include Duke Energy International, Duke Energy Merchants, Duke Engineering & Services and DukeSolutions. The new organization positions the company for increased integration and synergy as the Duke Energy Services business units grow in the global energy marketplace.

Williamson has served as president and chief executive officer of Duke Energy International since 1998. Prior to that he was vice president, finance, for PanEnergy, joining that company as treasurer in 1995. He held several executive positions with the Royal Dutch/Shell Group from 1981 through 1995. Williamson earned a bachelor of science degree in finance and applied statistics from the University of Montana, Missoula, and a master of business administration degree from the University of Houston.

Richard K. McGee was named president and chief executive officer of Duke Energy International replacing Williamson. McGee joined Duke Energy in 1999 as vice president and general counsel of Duke Energy Services. Prior to that, he was a partner with Vinson & Elkins L.L.P. in Houston where he worked from 1986 to 1998. McGee is a graduate of Rice University with bachelor of arts degrees in economics, political science and managerial studies. He received his juris doctor degree in 1986 from the University of Texas, Austin.

Harvey J. Padewer, group president, Duke Energy Services, announced the appointments, noting that the organizational changes are part of an ongoing effort to maximize the company’s competitive performance and growth. Padewer said, "this organizational realignment will leverage the skills Bruce Williamson has demonstrated so capably in growing Duke Energy International over the past four years. Richard McGee’s appointment will ensure that Duke Energy International continues to play a key role in the success of Duke Energy."

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: Deb Witmer
Phone: 713/627-5848
24 Hour Phone: 704/382-8333
Email: dfwitmer@duke-energy.com