News Release
June 07, 2002

DUKE ENERGY CLARIFIES SEC DATA REQUEST

CHARLOTTE, N.C. -- Duke Energy today announced that it has recently received an informal data request from the Securities and Exchange Commission (SEC) regarding the issue of “round-trip” trading. The company has been asked to voluntarily provide documents in regard to their examination of this issue. Duke Energy will fully comply with the request.

Duke Energy has stated publicly in response to two separate Federal Energy Regulatory Commission requests regarding power and natural gas trading that it did not engage in “round-trip,” “wash” or “sell/buyback” trades in order to boost revenues, volumes or prices in the western United States in 2000 and 2001.

 

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 need of customers throughout North America and in key markets around the world. 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: Terry Francisco
Phone: 704/373-6680
24 Hour Phone: 704/382-8333
Email: thfrancisco@duke-energy.com