Bill Barnet Named To Duke Energy Board of Directors - Duke Energy

News Release
October 25, 2005

Bill Barnet Named To Duke Energy Board of Directors

CHARLOTTE, N.C. – Duke Energy’s board of directors today elected William Barnet III to a seat on the board.

Barnet is mayor of the city of Spartanburg, S.C., and chairman, president and chief executive officer of The Barnet Company Inc., a real estate and investment firm. From 1976 to 2001, he was president and CEO of William Barnet & Son LLC, a global synthetic fiber processing company. He currently serves as chairman.

“Bill Barnet is well-respected for his years of leadership in both the public and private sectors,” said Paul Anderson, Duke Energy chairman of the board and chief executive officer. “He brings to the board a breadth of management and financial experience that will benefit our shareholders.”

Barnet, 62, has been mayor of Spartanburg since 2002.  He also serves on the board of Bank of America. Barnet earned a bachelor of arts degree from Dartmouth College in 1964 and a master of business administration from the Amos Tuck School at Dartmouth in 1965.

Barnet has been appointed to serve as a member of the board’s audit and nuclear oversight committees.

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