News Release
December 31, 2003

DUKE ENERGY COMPLETES SALE OF ENERGY DELIVERY SERVICES UNIT

CHARLOTTE, N.C. – Duke Energy has completed the sale of its Energy Delivery Services (EDS) business unit to The Shaw Group Inc. The sale, announced on Nov. 21, totaled $22.5 million. 

EDS provides design, engineering, procurement, construction and upgrade and maintenance services of power transmission, substations and distribution systems for various customers. The sale of EDS further aligns Duke Energy’s portfolio of businesses and resources with its core assets and business strategy. 

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