News Release
December 15, 2004

TEXAS EASTERN TRANSMISSION LP FILES NOTICE OF SUSPENSION OF DUTY TO FILE REPORTS

HOUSTON -- Texas Eastern Transmission LP, a subsidiary of Duke Energy, announced today that it filed a Form 15 with the Securities and Exchange Commission to suspend its reporting obligations under the Securities Exchange Act of 1934. The company is eligible to suspend its reporting obligation pursuant to Rule 12h-3(b)(1)(i) of the 1934 Act because it has fewer than 300 holders of record of any class of its securities.

Duke Energy determined that keeping Texas Eastern Transmission LP a registered issuer under the Securities Exchange Act of 1934 was not cost-effective.

Texas Eastern plans to continue to provide investors with quarterly financial statements and annual audited financial statements. In the future, that information may be accessed via its Web site at http://www.degt.duke-energy.com.

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: http://www.duke-energy.com.

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