News Release
May 01, 2001

DUKE ENERGY MIDSTREAM SERVICES CANADA LTD. NAMES NEW MANAGEMENT TEAM

CALGARY – Duke Energy Midstream Services Canada, Ltd. (Duke Energy Midstream), a gatherer and processor of natural gas in Canada, today announced its new management team after successfully completing its acquisition of Canadian Midstream Services, Ltd. (CMSL).

Michael J. Bradley, senior vice president of Duke Energy Field Services (DEFS) and president of subsidiary Duke Energy Midstream, has made the following appointments:

The acquisition of CMSL increases the company’s midstream position to ownership in eight gathering and processing facilities, more than doubling net processing capacity to 555 million cubic feet per day of natural gas.

"In addition to a significantly enhanced asset position, this acquisition brings together an exceptional team of midstream-focused people to form one of the top independent midstream companies in Canada," according to Bradley. "The proven track record of our team, the diversification of our business and our strong financial position enable us to sustain our commitment to growth in western Canada and continue to deliver superior customer service."

The combined office staff will be located at its new offices at 1500, 500-4th Avenue S.W., Calgary. Phone: 403/537-6200.

DEFS is a premier North American midstream energy company that leads or is among the nation’s leaders in the gathering, processing, transportation, marketing and storage of natural gas and the production, transportation and marketing of natural gas liquids (NGLs). DEFS’ 2,600 employees operate in 11 states and across five of the largest natural gas producing regions in North America, extending from western Canada to the Gulf Coast. The company owns and operates 65 plants and 57,000 miles of pipeline. The Denver-based company had revenues of $9.1 billion and assets of $6.1 billion in 2000. DEFS also owns the general partner of TEPPCO Partners, L.P., a publicly traded master limited partnership.

DEFS was formed by combining the Duke Energy and Phillips Petroleum natural gas gathering and processing businesses. Duke Energy owns approximately 70 percent of the joint venture and Phillips Petroleum owns about 30 percent. More information is available about the company at www.defs.com.

Phillips is an integrated petroleum company with interests around the world. Headquartered in Bartlesville, Oklahoma, the company has 12,400 employees and $20.5 billion of assets, and had $21.2 billion of revenues in 2000.

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: Tom Long
Phone: 303/605-1731
24 Hour Phone: 704/382-8333
Email: telong@duke-energy.com