News Release
Oct. 05, 2001

DUKE ENERGY TO REDEEM BOND ISSUE

CHARLOTTE, N.C. -- Duke Energy today announced that on Nov. 5 the company will redeem one of its bond issues.

The issue being redeemed is:

Call notices for this issue were mailed to bondholders today by The Chase Manhattan Bank, the bond trustee.

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