News Release
June 18, 2001

DUKE ENGINEERING & SERVICES NAMES NEW CHIEF FINANCIAL OFFICER

CHARLOTTE, N.C. -- Duke Engineering & Services announces Katherine C. Williams as its new chief financial officer (CFO) effective July 1. Williams will replace Sandra K. Vlahos, who has accepted the position as special assistant to the CFO of parent company Duke Energy.

"We are delighted to have someone of Kathy’s caliber join us," said Duke Engineering president Ron Green. "Her financial management experience in the international, federal and nuclear businesses is an excellent match for our company. I am also pleased for Sandy. We are very appreciative of her many positive contributions to our organization," said Green.

Williams comes to Duke Engineering from Westinghouse Electric Company, where she was controller for the nuclear fuel business unit in Columbia, S.C. She joined Westinghouse Savannah River Company in 1989 as a financial planner and held several positions with increasing responsibility including controller, solid waste and environmental restoration programs. Her other senior leadership positions were director of financial administration and control at Westinghouse Hanford Company and controller for nuclear projects and international operations in Pittsburgh.

Williams received a master’s degree in business administration from the University of Pittsburgh and a bachelor’s degree in business administration with an accounting emphasis from the College of Charleston.

Duke Engineering is an independently operated business affiliate of Duke Energy. Duke Engineering specializes in energy and environmental projects and provides full-scope engineering, technical and professional services to clients around the world.

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: Tommy Smith
Phone: 704/382-3403
24 Hour Phone: 704/382-8333
Email: tbsmith1@duke-energy.com