News Release
May 18, 2001

CHIEF FINANCIAL OFFICER NAMED AT DUKE ENERGY GENERATION SERVICES

CHARLOTTE, N.C. – Duke Energy has named Rance Hall chief financial officer of Duke Energy Generation Services (DEGS), which was recently established to provide operations and maintenance services for Duke Energy’s rapidly growing fleet of wholesale merchant power plants.

Hall joins the new company from Duke/Fluor Daniel (D/FD), where he most recently served as chief financial officer and vice president of finance and administration. He joined the joint venture of Duke Energy and Fluor Corporation in 1991 as treasurer and director of finance.

"Rance Hall brings an extensive finance and administrative background to DEGS," said Clarence Ray, president, DEGS. "Also, his tenure at D/FD saw the development and growth of that partnership’s operating plant services business, and that experience will serve us well at Duke Energy."

Prior to joining D/FD, Hall served as director of finance systems for Fluor Corporation. He began his career as a staff analyst with Reynolds Metals Company, where he later served as a cost accountant. He joined Daniel International Corporation in 1980 as manager of budget and finance analysis. In 1985 he was promoted to director of planning, reporting and financial analysis.

A native of Newport News, Va., Hall received a bachelor of business administration and accounting degree and a master of business administration degree from the College of William and Mary. He is a Certified Management Accountant.

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