News Release
May 02, 2002

DUKE ENERGY COMPLETES SALE OF DUKE ENGINEERING & SERVICES AND DUKESOLUTIONS UNITS

CHARLOTTE, N.C. – Duke Energy has completed the sale of its Duke Engineering & Services (DE&S) business unit to Framatome ANP Inc. and its DukeSolutions (DSI) business unit to Ameresco Inc.

 

“These sales have allowed Duke Energy to further align the company’s businesses, portfolio and resources to focus on growing wholesale energy markets,” said Bruce Williamson, president and chief executive officer of Duke Energy Global Markets. “The closings finalize Duke Energy’s effort to place these business units with companies where the business missions are aligned. We are pleased that both units will be part of companies clearly focused on developing the engineering services and energy services businesses as core businesses.

 

Duke Energy announced in late January 2002 that DE&S, a business unit providing engineering and technical services, would be purchased by Framatome ANP Inc., the world’s premiere nuclear supplier. In March 2002, the company announced the purchase of DSI, a business focused on energy services to commercial, industrial, institutional and governmental end-use customers, by Framingham, Mass.-based Ameresco Inc., a leading provider of energy management and energy-savings solutions.

 

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: Bryant Kinney
Phone: 704/382-2208
24 Hour Phone: 704/382-8333
Email: jbkinney@duke-energy.com