News Release
March 12, 2001

DUKE/FLUOR DANIEL NAMES FOUR SENIOR VICE PRESIDENTS FOR PROJECTS, OPERATIONS, MARKETING AND SALES

CHARLOTTE, N.C. – Duke/Fluor Daniel today announced four executive appointments within the company.

Ron Barnes was named senior vice president of projects, with responsibility for directing the company’s worldwide engineering, procurement and construction (EPC) projects. He will have responsibility for EPC projects for Duke Energy.

Abe Fatemizadeh was named senior vice president of projects, with responsibility for directing the company’s worldwide engineering, procurement and construction (EPC) projects. He will have responsibility for EPC projects for all other clients.

Chris Tye was named senior vice president of operations, replacing Barnes. Tye will be responsible for the company’s global operations, including its four principal offices in Charlotte, N.C.; Houston, Texas; Aliso Viejo, Calif.; and Camberly, England.

Dave Dunning was named senior vice president of marketing and sales, replacing Tye. Dunning will direct the company’s global sales and marketing activities, including both its EPC business and its operating plant services, which encompasses plant operations and maintenance, capital improvements and other services.

"The growth of our EPC project portfolio has been dramatic, and this expansion of our executive management team enables us to sharpen our focus on EPC projects," said Clarence Ray, president and chief executive officer of Duke/Fluor Daniel. "By 2000 we had captured about one-third of the U.S. market for the EPC of natural gas-fired generation. Duke Energy’s share of our project portfolio clearly warrants this leadership focus, and Ron Barnes’ track record and background clearly make him the right person for the job. Likewise, Abe Fatemizadeh will bring the leadership focus to the balance of our project portfolio to ensure the success of these projects for our other valued clients. He brings a global track record in EPC that includes both project management and experience in developing broader commercial and project execution strategies."

Barnes has served as D/FD’s senior vice president of operations since June 1999. Prior to that he served as project director for EPC projects in Puerto Rico, Texas and South Carolina. Prior to joining Duke/Fluor Daniel in 1989, he served in a variety of engineering and management positions for Duke Power during years of extensive power plant construction. Barnes received a bachelor of science degree in industrial engineering from Auburn University in 1967.

Prior to joining Duke/Fluor Daniel, Fatemizadeh served as executive director of global operations for Fluor Daniel, leading commercial and execution strategies for EPC projects. Prior to that he was director of project operations for Fluor Daniel’s Chemicals, Plastics and Fibers operating company. Fatemizadeh has managed EPC projects in the Middle East and Europe, encompassing various facilities, from petrochemical complexes to medical facilities and fiber optics projects. Fatemizadeh received a bachelor of science degree in industrial engineering and a master of science degree in industrial engineering from The University of Houston.

Tye was named vice president of marketing and sales for Duke/Fluor Daniel when it was established in 1989 and became senior vice president in 1999, when his organization was expanded to include strategic initiatives. Prior to that, he was marketing director of Fluor Daniel’s northeast power region. Tye received a bachelor of science degree in civil engineering from The Citadel and a master of science degree in engineering and construction management from the University of Missouri.

Dunning has served as executive director of business development for Duke/Fluor Daniel since 1996. He has directed business development for a variety of independent power and cogeneration projects, including facilities fueled by natural gas, coal and waste coal. From 1984 to 1996 he served as a marketing coordinator, marketing manager and regional director for Fluor Daniel, with a primary focus on the power and maintenance markets. Dunning received a bachelor of science degree in education from East Stroudsburg University (Pa.).

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 generation 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.

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: Jeremy Dreier
Phone: 704/382-8343
24 Hour Phone: 704/382-8333
Email: jwdreier@duke-energy.com