News Release
August 04, 2003

DUKE POWER ANNOUNCES $50,000 DONATION TO ASSIST WITH PILLOWTEX RELIEF AND RETRAINING EFFORTS ACROSS THE CAROLINAS

CHARLOTTE, N.C. – Duke Power today announced a $50,000 contribution from The Duke Energy Foundation to assist former Pillowtex employees and others who have lost their jobs due to the downturn in the textile, furniture and manufacturing industries across North Carolina and South Carolina.

The donation will provide immediate assistance in two forms. A total of $25,000 will be given to non-profit health and human services agencies in Rowan, Cabarrus and Rockingham counties in North Carolina to assist with their financial outreach efforts for former Pillowtex employees. Another $25,000 will be used to establish the Duke Energy -- Carolinas Work Force Outreach Fund through Foundation For The Carolinas to provide human services and retraining aid for employees in North Carolina and South Carolina. The new fund will provide financial support to human services agencies, technical schools, community colleges and organizations that provide retraining and work force reentry assistance. Members of the public, in addition to Duke Energy and its employees, may contribute to the fund.

“Pillowtex was one of Duke Power’s largest customers and its bankruptcy reflects the continued decline of the textile industry,” said Sandra Meyer, executive vice president of customer services, sales and marketing for Duke Power. “The closing of Pillowtex will have a domino effect across North Carolina and South Carolina and the region. As a corporate leader, it’s important we play an active role in responding to these challenges through financial outreach to meet immediate needs. In addition, Duke Power will continue its focus on economic development through aggressive efforts to bring new industry to the region,” Meyer added.

To make a contribution of cash or stock to the Duke Energy -- Carolinas Work Force Outreach Fund:

  • Contact Foundation For The Carolinas at 704/973-4549.
  • Mail a check made payable to “Duke Energy -- Carolinas Work Force Outreach Fund” to Foundation For The Carolinas, 217 South Tryon Street, Charlotte, N.C. 28202.

Duke Power, a business unit of Duke Energy, is one of the nation’s largest electric utilities and provides safe, reliable, competitively priced electricity to approximately two million customers in North Carolina and South Carolina. Duke Power operates three nuclear generating stations, eight coal-fired stations, 31 hydroelectric stations and numerous combustion turbine units. Total system generating capability is approximately 19,900 megawatts. More information about Duke Power is available on the Internet at: www.dukepower.com.

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: www.duke-energy.com.

Contact: Valerie Patterson
Phone: 704/382-8254
24-Hour Phone: 704/382-8333
e-mail: vapatter@duke-energy.com
Contact: Rose Cummings
Phone: 704/382-6681
24-Hour Phone: 704/382-8333
e-mail: rbcummin@duke-energy.com