Released By Williams News Release
Feb. 07, 2001

GULFSTREAM NAMES SCHULTZ AND BUCKLEY SENIOR VICE PRESIDENTS & GENERAL MANAGERS

HOUSTON – Gulfstream Natural Gas System, L.L.C., a joint pipeline development between Duke Energy (NYSE:DUK) and Williams (NYSE: WMB), announced today that Nancy W. Schultz and Guy G. Buckley have been named to the leadership team that will oversee the development of this major project.

Schultz will serve as senior vice president and general manager, Technical Functions, providing leadership for the technical and engineering aspects of the Gulfstream project. Buckley will serve as senior vice president and general manager, Business Functions, overseeing the various business aspects of the project including marketing, business development and finance.

Schultz most recently served as director of engineering for Williams’ gas pipeline unit. She has more than 19 years of experience in the energy industry and has held a variety of management positions, including manager of Civil Design and manager of Field Projects. Schultz earned her bachelor of science degree in civil engineering from Pennsylvania State University.

Buckley most recently served as vice president, electric market and project development for Duke Energy Gas Transmission. He has more than 17 years of experience in the energy industry and has held various management positions in engineering, operations, system planning and marketing. Buckley earned his bachelor of science degree in mechanical engineering from McGill University and a master of business administration degree from Boston University.

Gulfstream's proposed 744-mile pipeline is designed to primarily serve Florida utilities and power-generation facilities that will use high-efficiency, natural gas turbines to meet the incremental demand for electric energy. More information about the Gulfstream Natural Gas System is available by visiting the project web site at www.gulfstreamgas.com.

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.

Williams, through its subsidiaries, connects businesses to energy and communications. The company delivers innovative, reliable products and services through its extensive networks of energy-distributing pipelines and high-speed fiber-optic cables. Williams information is available at www.williams.com.

Contact: Chris Stockton, Williams
Phone: 713/215-2010
24 Hour Phone: n/a
Email: Christopher.L.Stockton@Williams.com
Contact: Gretchen Krueger
Phone: 713/627-4072
24 Hour Phone: 704/382-8333
Email: gdkrueger@duke-energy.com