News Release
March 30, 2001

DUKE ENERGY DELIVERS THE RESULTS IN BUSINESS WEEK RANKING

CHARLOTTE, N.C. – Duke Energy has been ranked one of the top companies in this year’s Business Week 50 – an annual collection of the best-performing companies in the Standard & Poor’s 500.

The complete rankings are in the spring 2001 special issue of Business Week.

Duke Energy was 19th on this year’s list. Each year, Business Week magazine ranks the companies of the S&P 500 on such criteria as peer ranking, total shareholder return, revenue growth and earnings growth.

"This ranking is based on results, and that’s what we’ve been generating at Duke Energy for the past few years," said Richard B. Priory, chairman, president and chief executive officer of Duke Energy. "On domestic and international fronts, our rapidly expanding energy businesses have produced dramatic financial results – helping us secure a spot on this prestigious list."

The magazine stated that Duke Energy had made great strides in transforming its operations since the company was formed in a $7.7 billion merger between Duke Power and PanEnergy. According to Business Week, "Since then it has engineered 55 deals around the globe worth $24 billion. Sales have soared an average of 42.4 percent over the past three years, and the stock returned 73.1 percent."

The magazine also cited Duke Energy as one of the top 10 companies in sales growth – with a one-year jump of 127 percent.

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: Randy Wheeless
Phone: 704/382-8379
24 Hour Phone: 704/382-8333
Email: crwheele@duke-energy.com