News Release
Feb. 25, 2003

DUKE ENERGY TOPS INDUSTRY SECTOR IN FORTUNE'S MOST ADMIRED LIST

CHARLOTTE, N.C. – For the fifth year in a row, Duke Energy has been named the nation’s Most Admired Company in its sector by Fortune magazine.

 

In the publication’s March 3 edition, Duke Energy was cited as the energy sector’s Most Admired Company in a survey of senior executives, outside directors and financial analysts. Duke Energy was selected from among the list of the 10 largest energy companies.

 

Duke Energy has led its sector for five straight years. For the past two years, Duke Energy has been the top company in the energy sector. In the three prior years, the company was the top electric and gas utility.

 

“The past 12 months have been challenging to all of the companies in the energy sector,” said Richard B. Priory, chairman and chief executive officer of Duke Energy. “Duke Energy has worked hard to uphold the standards of excellence that has kept this company succeeding for almost 100 years. We are pleased that others saw, and recognized, our efforts.”

 

Each year, Fortune posts the results of its survey judging the nation’s largest corporations. Companies are judged in various attributes:  management quality, product quality, innovativeness, long-term investment value, financial soundness, employee talent, social responsibility and use of corporate assets.

 

Since 1982, Fortune has surveyed corporate reputation in its Most Admired Companies edition. This year, Wal Mart was named Most Admired Company in all industries.

 

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: Randy Wheeless
Phone: 704/382-8379
24 Hour Phone: 704/382-8333
Email: crwheele@duke-energy.com