This is the 76th consecutive year that Duke Energy has paid quarterly cash dividends on its common stock.

Duke Energy Canada Exchangeco Inc., a subsidiary of Duke Energy, today also announced a quarterly cash dividend on its exchangeable shares of Cdn. $0.43 per exchangeable share. The dividend is payable on June 17, 2002, to shareholders of record on May 17, 2002.

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 $59 billion in 2001. 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.