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Duke Energy to Lease Office Space in New Building August 31, 2007

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CHARLOTTE, N.C. -

Duke Energy will lease approximately 240,000 square feet of office space in the building being constructed by Wachovia Corp. at 550 South Tryon St., across the street from the Duke’s Energy Center at 526 South Church St.

Duke Energy’s board of directors has approved a 15-year lease with Wachovia. Occupancy is expected in 2010. The new offices will replace other space currently occupied by Duke Energy.

The energy company will lease floors 36 through 45 in the 48-story tower, which will be LEED-certified. LEED stands for Leadership in Energy and Environmental Design, a nationally accepted benchmark for the design, construction and operation of environmentally responsible buildings. The program is administered by the U.S. Green Building Council (USGBC), a coalition of leaders from every sector of the building industry. Duke Energy is a corporate member of the USGBC.

“Duke Energy is proud of its relationship with the Charlotte region and this agreement reflects our commitment to being an integral part of its growth and vitality,” said James E. Rogers, Duke Energy chairman, president and chief executive officer. “It is also indicative of our commitment to support energy efficiency.”

550 South Tryon is located in the heart of the city’s diverse cultural arts campus, programs long-supported by Duke Energy, its employees and retirees.

Current plans call for the office space to be designed in 2008, with construction in 2009, and completion in 2010. Duke Energy would then begin the process of relocating equipment and personnel into the new building.

Duke Energy, one of the largest electric power companies in the United States, supplies and delivers energy to approximately 4 million U.S. customers. The company has nearly 37,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.

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: Duke Energy Contact: Tom Shiel
Phone: 704.382.2355
24-Hour Phone:
e-mail:

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