News Release
Feb. 18, 2002

DUKE/FLUOR DANIEL TO BUILD FOUR SIMPLE-CYCLE POWER PLANTS FOR DUKE ENERGY NORTH AMERICA

CHARLOTTE, N.C -- Duke/Fluor Daniel (D/FD) has been awarded contracts by Duke Energy North America (DENA) to perform engineering, procurement and construction services for four natural gas-fired, simple-cycle, merchant power generation facilities, with a combined capacity of 2,560 megawatts. The four projects were booked into Fluor’s backlog during the second half of its 2001 fiscal year.

 

The four projects are:   the 640-megawatt Southaven Generation Station in Southaven, Miss.; the 640-megawatt Enterprise Generation Station southwest of Enterprise, Miss., in Clarke County; the 640-megawatt Marshall Generation Station in Calvert City, Ky.; and the 640-megawatt Sandersville Generation Station north of Warthen, Ga., in Washington County. A total of 32 GE 7EA combustion turbine generators will be used in the four projects, which are targeted for commercial operation in summer 2002.

 

“With these projects, Duke/Fluor Daniel enters the new year on track to bring into commercial operation more than 13,000 megawatts of new power generation in 2002,” said Jeff Faulk, president and chief executive officer of Duke/Fluor Daniel.

 

“Duke/Fluor Daniel’s reliability in bringing facilities into operation is a critical component of DENA’s asset development activities. It enables us to continue expanding our merchant generation fleet to meet growing power needs, not only in the southeast United States but across North America,” said Jim Donnell, president and chief executive officer of DENA.

 

Duke/Fluor Daniel provides comprehensive engineering, procurement, construction, commissioning and operating plant services for fossil-fueled electric power generating facilities worldwide. The partnership of Duke Energy and Fluor Corporation affiliates is one of the largest power contractors in the world and has the largest U.S. market share for the engineering and construction of natural gas-fired power projects. D/FD Operating Plant Services supports utility, merchant and cogeneration plants, including operations and maintenance contracts, capital projects, turbine fleet management, environmental retrofits and other major plant improvements. For more information, visit www.dukefluordaniel.com.

 

Duke Energy North America (DENA) is Duke Energy’s Houston-based merchant energy company. DENA currently owns 8,000 megawatts in operation and has 5,400 megawatts under construction scheduled to come on line by summer 2002.

 

Fluor Corporation (NYSE: FLR) provides services on a global basis in the fields of engineering, procurement, construction, operations, maintenance and project management. Headquartered in Aliso Viejo, California, Fluor is a Fortune 500 company with revenues of $9 billion in fiscal year 2001. For more information, visit www.fluor.com.

 

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.

 

Note: This release contains forward-looking statements, including statements relating to the amount of power generation capacity to be constructed by Duke/Fluor Daniel. The forward-looking statements are based on current Duke/Fluor Daniel management expectations, and actual results may differ materially as a result of several factors, including the successful completion by Duke/Fluor Daniel of its projects, and other factors discussed in both Fluor's and Duke Energy's recent SEC filings.  Neither Fluor nor Duke Energy undertakes any obligation to update forward-looking statements to reflect events or circumstances occurring after the date of such statements.

Contact: Jeremy Dreier
Phone: 704/382-8343
24 Hour Phone: 704/382-8333
Email: jwdreier@duke-energy.com