Westcoast Energy and Union Gas Declaration of Dividends - Duke Energy

News Release
November 09, 2005

Westcoast Energy and Union Gas Declaration of Dividends

VANCOUVER, BRITISH COLUMBIA -- On November 9, 2005, Westcoast Energy Inc. declared the following quarterly dividends:

  1. 5.50% CUMULATIVE FIRST PREFERRED SHARES, SERIES 7:  A dividend of 34.375 cents per share payable on January 15, 2006 to shareholders of record at the close of business on December 31, 2005.
  2. 5.60% CUMULATIVE FIRST PREFERRED SHARES, SERIES 8:  A dividend of 35.00 cents per share payable on January 15, 2006 to shareholders of record at the close of business on December 31, 2005.

Also on November 9, 2005, Union Gas Limited declared the following quarterly dividends:

  1. 5½% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES A:  A quarterly dividend of 69 cents per share payable on December 31, 2005 to shareholders of record at the close of business on December 9, 2005.
  2. 6% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES B:  A quarterly dividend of 75 cents per share payable on December 31, 2005 to shareholders of record at the close of business on December 9, 2005.
  3. 5% CUMULATIVE REDEEMABLE CLASS A PREFERENCE SHARES, SERIES C:  A quarterly dividend of 62.5 cents per share payable on December 31, 2005 to shareholders of record at the close of business on December 9, 2005.
  4. CUMULATIVE REDEEMABLE CONVERTIBLE CLASS B PREFERENCE SHARES, SERIES 11:  A quarterly dividend of 29.9375 cents per share payable on December 31, 2005 to shareholders of record at the close of business on November 30, 2005.

Westcoast Energy Inc. and Union Gas Limited are indirect subsidiaries of Duke Energy Corporation.

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: www.duke-energy.com.

Contact: Sarah McCullough
Phone: 604/488-8095
24-Hour Phone: 704/382-8333
e-mail: smccullough@duke-energy.com