DUKE ENERGY COMPLETES SALE OF WASHINGTON STATE FACILITY - Duke Energy

News Release
March 29, 2005

DUKE ENERGY COMPLETES SALE OF WASHINGTON STATE FACILITY

CHARLOTTE, N.C. – Duke Energy has completed the sale of its Grays Harbor merchant facility to an affiliate of Invenergy LLC for $21 million plus other contingent considerations.

Announced in January, the sale consists of a partially completed 620-megawatt, combined-cycle generating facility, located in the Satsop Development Park in Grays Harbor County, Wash., that is currently in a construction deferral. 

Grays Harbor is the third of three deferred construction projects sold by Duke Energy over the past 12 months. The other projects included the Moapa Energy Facility in Clark County, Nev., sold in October 2004 and the Luna Energy Facility near Deming, N.M., sold in November 2004.

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: Pat Mullen
Phone: 805/595-5597
24-Hour Phone: 704/382-8333
e-mail: pwmullen@duke-energy.com