News Release
February 02, 2004

MEDIA ADVISORY: DUKE ENERGY EXECUTIVES TO SPEAK TO FINANCIAL ANALYSTS; EVENT TO BE WEBCAST

CHARLOTTE, N.C. – Top Duke Energy executives will speak to financial analysts in New York on Tuesday, Feb. 3, 2004, to outline the company’s medium-term outlook for its leading business segments. The event will also be webcast.

Participating from Duke Energy will be:   Paul Anderson, chairman and chief executive officer; Fred Fowler, president and chief operating officer; David Hauser, chief financial officer in an acting capacity; Ruth Shaw, president of Duke Power; Tom O’Connor, president of Duke Energy Gas Transmission; and Bobby Evans, president of Duke Energy Americas.

The live webcast of the presentation will begin at approximately 7:45 a.m. and will include accompanying slides. It will be available at the company’s investors' Web site, www.duke-energy.com/investors. A replay of the presentation will be available immediately thereafter. The presentation may include certain non-GAAP financial measures as defined under Securities and Exchange Commission rules. In such event, a reconciliation of those measures to the most directly comparable GAAP measures will be available at: http://www.duke-energy.com/investors/financial/gaap.

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