News Release
December 17, 2003

DUKE ENERGY EXECUTIVE VICE PRESIDENT, GENERAL COUNSEL AND CAO DICK BLACKBURN ANNOUNCES PLANS TO RETIRE

CHARLOTTE, N.C. -- Dick Blackburn announced today he plans to retire as executive vice president, general counsel and chief administrative officer of Duke Energy effective Jan. 31.

Blackburn, 61, joined Duke Energy in 1997 as executive vice president and general counsel, and assumed his current role in January 2003. In that role he has been responsible for the company’s legal issues and major corporate functions including human resources, corporate planning and strategy, external relations, information management, and diversity, ethics and compliance.

Prior to joining Duke Energy, Blackburn held executive positions at NYNEX Corporation (now Verizon).

Duke Energy Chairman and Chief Executive Officer Paul Anderson praised Blackburn’s leadership. “I had a hand in hiring Dick before leaving Duke Energy in 1998, and it has been a pleasure to work with him again. I will miss the wisdom and leadership he has brought to the company over the past six years,” Anderson said.

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: Peter Sheffield
Phone: 704/373-4503
24-Hour Phone: 704/382-8333
e-mail: pvsheffield@duke-energy.com