News Release
Feb. 21, 2002

DUKE ENERGY TOPS INDUSTRY SECTOR IN FORTUNE'S MOST ADMIRED LIST

CHARLOTTE, N.C. – For the fourth year in a row, Duke Energy has been named the nation’s Most Admired Company in its sector by Fortune magazine.

 

In the publication’s March 4 edition, Duke Energy was cited as the Energy Sector’s Most Admired Company in a survey of senior executives, outside directors and financial analysts. Duke Energy was selected from among the list of the 10 largest energy companies.

 

For the past three years, Duke Energy has been the top Electric and Gas Utility, but this year the magazine moved the company to the Energy sector – better reflecting the company’s overall business.

 

“We are proud that Duke Energy has led its sector every year we’ve been eligible to be ranked,” said Richard B. Priory, chairman, president and chief executive officer of Duke Energy. “Our 24,000 employees worldwide are the key to the respect and reputation that we enjoy and value highly.”

 

Each year, Fortune posts the results of its survey judging the nation’s largest corporations. Companies are judged in various attributes:   management quality, product quality, innovativeness, long-term investment value, financial soundness, employee talent, social responsibility and use of corporate assets.

 

For the past 20 years, Fortune has surveyed corporate reputation in its Most Admired Companies edition. This year, General Electric was named Most Admired Company in all industries.

 

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.

Contact: Randy Wheeless
Phone: 704/382-8379
24 Hour Phone: 704/382-8333
Email: crwheele@duke-energy.com