News Release
March 01, 2002

DUKE ENERGY/WESTCOAST ENERGY GAIN FTC CLEARANCE

CHARLOTTE, N.C.; VANCOUVER, BRITISH COLUMBIA   Duke Energy and Westcoast Energy Inc. announced today that Duke Energy’s acquisition of Westcoast Energy took another major step forward as the Federal Trade Commission granted early termination of the final period for review under the Hart-Scott-Rodino Antitrust Act.

 As previously announced, Duke Energy expects the acquisition to close by the end of first quarter 2002.

 

Westcoast Energy Inc. (TSE: W; NYSE: WE) headquartered in Vancouver, British Columbia, is a leading North American energy company with assets of approximately C$14 billion. The Company’s interests include natural gas gathering, processing, transmission, storage and distribution, as well as power generation, international energy businesses, and financial, information technology and energy services businesses. More information is available on the Company’s Web site at www.westcoastenergy.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 US$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: Danny Gibbs, Duke Energy
Phone: 713/627-4060
24 Hour Phone: 704/382-8333
Email: dpgibbs@duke-energy.com
Contact: Bob Foulkes, Westcoast Energy
Phone: 604/488-8093
24 Hour Phone: n/a
Email: bfoulkes@wei.org