News Release
May 27, 2004

MEDIA ADVISORY: DUKE ENERGY TO DISCUSS CRESCENT RESOURCES DURING INVESTORS' CHAT JUNE 3

CHARLOTTE, N.C. – Crescent Resources President Art Fields will discuss Duke Energy’s real estate affiliate during an investors’ chat on Thursday, June 3, at 10 a.m. ET.

Investors and other interested persons can listen to the conference by dialing 888/855-5487, confirmation code 147220. International callers should use 719/457-2666. Please dial in 5-10 minutes prior to the scheduled start time. In addition, interested parties may see slides and listen to the audio of the conference call by accessing the investors' section (http://www.duke-energy.com/investors/) of the company’s Web site at: http://www.duke-energy.com. A replay of the conference call will be available through June 12. The replay number is 888/203-1112, confirmation code 147220. The international replay number is 719/457-0820, confirmation code 147220.

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