Richard K. McGee, president and chief executive officer of DEI, made the announcement, noting that Wilt’s background makes him particularly well suited for the assignment which will focus on acquiring asset positions that complement the company’s trading capabilities. McGee said, “Pete Wilt’s years of experience in mergers and acquisitions and asset development and operations make him the ideal leader for Duke Energy Europe as we continue to implement Duke Energy’s strategy of building asset-based integrated regional energy businesses.”

Wilt has been with DEI since 1998, leading the company’s Latin American operations. Under his leadership, the region’s portfolio of power generation assets has grown to more than 5,000 megawatts. Wilt has more than 30 years of experience in the energy industry, having held executive posts with responsibility for business development and operations and regulatory affairs. A native of Pittsburgh, Wilt received a bachelor of business administration degree from the University of Texas.

Duke Energy International, a subsidiary of Duke Energy, builds, through development or acquisition, regional energy businesses that include natural gas and power facilities, and energy trading and marketing operations in Europe, Latin America and Asia Pacific.  DEI’s energy portfolio includes over 6,000 megawatts of hydroelectric and thermal generation, and nearly 2,400 miles (3,850 km) of gas pipeline.

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.