Ruth Shaw to Retire from Duke Energy Next Year - Duke Energy

News Release
Sept. 12, 2006

Ruth Shaw to Retire from Duke Energy Next Year

CHARLOTTE, N.C. – Ruth G. Shaw, group executive for public policy and president, Duke Nuclear, will retire from Duke Energy Corporation at the end of April 2007.

Shaw, 58, joined the company in 1992, and has held several executive positions, including president and chief executive officer of Duke Power Company from 2003 to 2006. During her tenure, Duke Power achieved record levels of customer satisfaction, led numerous economic development efforts in the Carolinas, and announced plans to seek a license for a new nuclear power plant.

Shaw served as president of Central Piedmont Community College from 1986 to 1992, and is an active civic and business leader. She has chaired the boards and annual campaigns of both the United Way of Central Carolinas and the Arts & Science Council, and also chaired the board of the Foundation for the Carolinas. She is a trustee at UNC-Charlotte, and is a member of the boards of directors of Wachovia Corporation and The Dow Chemical Company.

James E. Rogers, Duke Energy chief executive officer and president, said, “Ruth has been an outstanding leader for Duke Energy. She epitomizes the best of our company, and she will be missed in our industry and by our employees. I am delighted that she will continue to serve Duke Energy as an executive advisor to me. Her wisdom and insights are invaluable.”

Shaw will assist Rogers and his new leadership team for stand-alone Duke Energy electric operations, following the planned spin-off of Duke’s gas businesses.

“I have been privileged to serve Duke Energy, and especially to lead Duke Power Company. The next chapters promise to be exciting ones, both for Duke Energy and for me,” Shaw said.

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: Tom Shiel
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