News Release
May 23, 2001

GRIDSOUTH NAMES TWO EXECUTIVES

CHARLOTTE – GridSouth, the regional transmission company formed by Duke Energy, CP&L and SCANA Corporation, has named James D. Hinton the company’s Chief Operating Officer and Raymond A. Giuliani Jr. as Chief Financial Officer.

Hinton currently serves as senior vice president – electric transmission for Charlotte-based Duke Energy. Giulani is currently executive vice president and chief financial officer for New York-based Perform.com. Both executives will begin transitions to their new duties immediately.

Hinton joined Duke Power in 1973 as an electrical engineer. In 1991 he was named Duke Power’s general manager – power delivery in the company’s Northern Region and was promoted to vice president – power delivery a year later. He assumed his current role in 1997, after Duke Power’s merger with Houston-based PanEnergy Corp to create Duke Energy.

The Burlington, N.C., native is a graduate of North Carolina State University with a degree in electrical engineering. He is a registered professional engineer in North Carolina and is a member of the Electric Power Research Institute’s Power Delivery Council.

Hinton will resign his position with Duke Energy in order to join GridSouth. As that company’s chief operating officer, Hinton will direct the company’s day-to-day operations, ensuring an adequate and reliable flow of electricity through the region’s transmission grid.

"Transmission companies such as GridSouth are critical elements in the country’s efforts to move our electric systems to competitive markets," Hinton said. "We intend for GridSouth’s operations to provide the support needed for a competitive wholesale electricity market in the Carolinas."

Giuliani is a graduate of the Georgia Institute of Technology with a degree in industrial and systems engineering. He received his MBA from Stanford University and is certified public accountant in Georgia.

He began his career in 1975 with KPMG Peat Marwick in Atlanta. Three years later he moved to Energy Management Associates, also in Atlanta, where he rose to vice president and chief financial officer in 1980 and to vice president – natural gas industry practice and chief financial officer in 1985. When Energy Management Associates merged with Electronic Data Systems in 1992, Giuliani was named vice president of the company’s utilities division.

He was a managing member of Exchange Development Company LLC, a wholesale energy exchange research and development company, from 1993 to 1996 and an independent consultant until assuming his current position with Perform.com in 1999.

In his role as chief financial officer, Giuliani will have responsibility for the company’s financial integrity and long-term financial health.

Giuliani noted that initially, GridSouth would provide functional control of the transmission assets currently owned by the three participating utilities. "However, GridSouth is a for-profit business venture and ultimately may own transmission assets," he said.

The new company, GridSouth, LLC, is expected to be formally chartered later this year. GridSouth is expected to begin operation December 15, 2001.

About GridSouth

GridSouth Transco, LLC, is an independent regional transmission organization (RTO) that is being formed by CP&L, Duke Energy and SCANA Corporation in response to the Federal Energy Regulatory Commission’s "Order 2000." By managing the combined transmission system operations of the three utilities and by further opening the Carolina markets to power generation suppliers, GridSouth will enhance the effectiveness of a competitive wholesale electric market in the region. GridSouth’s customers will include utility companies, power trading and marketing companies, municipal utilities, electric cooperatives and state-owned transmission systems.

Together, CP&L, Duke and SCANA have more than 22,000 miles of transmission lines connected to approximately 34,500 megawatts of electric generation and serve more than 3.75 million customers in North Carolina and South Carolina.

CP&L, a subsidiary of Progress Energy, is based in Raleigh, N. C., Duke Energy is based in Charlotte, N. C., and SCANA Corporation, the parent company of South Carolina Electric & Gas, is based in Columbia, S. C. GridSouth will be located in Fort Mill, S. C.

For more information, visit www.gridsouth.com or call 704-382-9938.

Contact: Joe Maher, Duke Energy
Phone: 704/382-8323
24 Hour Phone: 704/382-8333
Email: jmaher@duke-energy.com
Contact: Aaron Perlut, Progress Energy
Phone: 919/546-6975
24 Hour Phone: 919/546-6189
Email: n/a
Contact: Brian Duncan, SCANA Corporation
Phone: n/a
24 Hour Phone: 800/562-9308
Email: n/a