DUKE ENERGY FIELD SERVICES FILES NOTICE OF SUSPENSION OF DUTY TO FILE REPORTS - Duke Energy

News Release
January 31, 2005

DUKE ENERGY FIELD SERVICES FILES NOTICE OF SUSPENSION OF DUTY TO FILE REPORTS

DENVER – Duke Energy Field Services LLC (DEFS) 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 obligations under the 1934 Act because it has fewer than 300 holders of record of any class of its securities.

DEFS plans to provide investors with quarterly financial statements and annual audited financial statements through its Web site at http//www.defs.com

Duke Energy Field Services (DEFS) is a premier North American midstream energy company that leads or is among the nation's leaders in the gathering, compression, treating and processing of natural gas; and fractionation, transportation, marketing and trading of NGLs. Other services include the transportation, marketing and storage of natural gas. DEFS operates in 16 states and two provinces across the five largest natural gas-producing regions in North America, extending from western Canada to the Gulf Coast. The Denver-based company operates or has ownership in 66 plants and 59,000 miles of pipeline. Current handled volumes are 7.3 TBtu/d of natural gas and 363,000 Bbls/d of NGLs. DEFS owns the general partner of TEPPCO Partners L.P., a publicly traded master limited partnership primarily engaged in the transportation of petroleum products.

DEFS was formed by combining the Duke Energy and ConocoPhillips natural gas gathering and processing businesses. Duke Energy owns approximately 70 percent of the joint venture and ConocoPhillips owns about 30 percent. More information is available about the company at http//www.defs.com

Contact: Media Contact: Roz Elliott
Phone: 303/605-1707
24-Hour Phone: 704/382-8333
e-mail: rlelliott@duke-energy.com
Contact: Investor Relations
Phone: 303/605-1792
24-Hour Phone: n/a
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