News Release
Nov. 04, 2002


CHARLOTTE, N.C. -- Duke Energy today redeemed one of its bond issues.


The issue redeemed is:

·         The 7 1/2 percent Series B due Aug. 1, 2025, with a face value of $100 million. Bondholders will receive $1,029.07 per $1,000 principal amount held, plus accrued interest to today, the redemption date.


Call notices for this issue were mailed Oct. 4 to bondholders by J.P. Morgan, the bond trustee.


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 needs of customers throughout North America and in key markets around the world. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at:


Contact: Terry Francisco
Phone: 704/373-6680
24 Hour Phone: 704/382-8333