News Release
April 28, 2004

DUKE ENERGY TO REDEEM SENIOR NOTES

CHARLOTTE, N.C. -- Duke Energy today announced that on May 28 the company will fully redeem a series of its senior notes.

The series being redeemed is:

  • The Duke Energy Series C 6.60 percent Senior Notes due 2038, with a face value of $200 million. Noteholders will receive $25 per each note held, plus accrued interest to the redemption date.

Call notices for this issue were mailed to noteholders today by JP Morgan Chase Bank, the trustee for the senior notes.

Duke Energy is a diversified energy company with a portfolio of natural gas and electric businesses, both regulated and unregulated, and an affiliated real estate company. Duke Energy supplies, delivers and processes energy for customers in North America and selected international markets. In 2004, the company celebrates a century of service with the 100th anniversary of its electric utility Duke Power. Headquartered in Charlotte, N.C., Duke Energy 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
e-mail: crwheele@duke-energy.com