News Release
Dec. 18, 2002

WEBSTER NAMED PRESIDENT OF DUKE CAPITAL PARTNERS

CHARLOTTE, N.C. and HOUSTON -- F.T. (Chip) Webster, a veteran of 28 years of energy and corporate finance experience, has been named president and chief executive officer of Duke Capital Partners – Duke Energy’s merchant banking operation.

 

Webster was named to his new post on Dec. 4 when Duke Energy made other executive announcements. He will lead Duke Capital Partners, which provides debt and equity capital and financial advisory services to energy and energy-related businesses.

 

Webster joined Duke Capital Partners in 2000 and served as executive vice president and managing director and head of the Houston division of Duke Capital Partners.

 

Prior to joining Duke Capital Partners, Chip was a partner and a managing director in Arthur Andersen’s Energy Corporate Finance Group. He previously spent 20 years with First City Bancorporation where he served as executive vice president and head of energy and corporate banking. Following his career with First City, he operated Webster & Co., an energy financial advisory firm.

 

A native of Houston, Webster earned his BBA and MBA degrees from Texas Christian University. Webster is a member of the Independent Petroleum Association of America and serves as a board member of The Petroleum Club of Houston and The Houston Producers’ Forum.

 

Duke Energy is a diversified multinational energy company with an integrated network of energy assets and expertise. The company manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses – meeting the energy needs of customers throughout North America and in key markets around the world. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 500 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