News Release Dec. 14, 2001

CHARLOTTE, N.C.  -- Executive Vice President and Chief Risk Officer, Richard Osborne, and Senior Vice President and Treasurer, David Hauser, will discuss Duke Energy’s capitalization program and risk management practices during the next installment of the company’s monthly chat series with investors on Tuesday, Dec. 18, at 2 p.m. ET. 

Internet users can view the webcast by accessing the investors' section of the company’s Web site to see slides and listen to audio. You can also listen to the conference by calling 800/263-8506 and using confirmation code 518492. International callers should use 719/457-2681. A replay of the conference call will be available through Dec. 27 by calling 888/203-1112, code 518492. The international replay is available at 719/457-0820, code 518492.

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.