DUKE ENERGY BOARD APPOINTS NEW DIRECTOR; ELECTS GENERAL COUNSEL AND SECRETARY - Duke Energy

News Release
June 29, 2005

DUKE ENERGY BOARD APPOINTS NEW DIRECTOR; ELECTS GENERAL COUNSEL AND SECRETARY

CHARLOTTE, N.C. – Duke Energy’s board of directors today appointed retired Bank of America Vice Chairman Jim Hance to a seat on the board.

“Jim Hance is one of the most respected executives in the banking industry. He will bring to the board a wealth of experience, including valuable financial expertise,” said Paul Anderson, Duke Energy chairman of the board and chief executive officer.  Hance retired in January as vice chairman of Bank of America. He also serves on the boards of Sprint Corporation, Cousins Properties Inc., EnPro Industries Inc. and Rayonier Corporation.

Hance received a BA in economics from Westminster College and an MBA in finance from Washington University. He is a certified public accountant.

In other action, the board elected Keith Trent group vice president, general counsel and secretary. Trent had served in the role in an acting capacity since March 1.

Trent joined Duke Energy in May 2002 as general counsel in charge of litigation.  Before joining Duke Energy, he was a partner for more than 10 years in the Dallas law firm of Snell, Brannian & Trent. Prior to that, he was an attorney at Jackson Walker in Dallas. He began his career as a reservoir/production engineer with Arco Oil & Gas in Houston in January 1982.

“Keith Trent has distinguished himself not only as a litigator and negotiator but as a successful leader of our law department,” Anderson said. “He has done an excellent job resolving legal issues, rebuilding relationships with regulatory and enforcement agencies and negotiating settlements that are in the best interests of the company.”

Trent received a BA in electrical engineering from Southern Methodist University and his law degree from the University of Texas. He was born in North Little Rock, Ark., and currently lives in Charlotte.

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 the Americas. 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