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Duke Energy Announces New Corporate Headquarters Feb. 26, 2009

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CHARLOTTE, N.C. -

Duke Energy will relocate its corporate headquarters to 550 South Tryon St., across the street from the company's current headquarters at 526 South Church St. This new office building will be named Duke Energy Center in recognition of Duke Energy's presence in the building.

Duke Energy's board of directors has approved a long-term lease with Wells Fargo/Wachovia for approximately 500,000 square feet in the building currently under construction. Occupancy is expected as early as mid to late 2010.

"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. "The situation created by the Wells Fargo/Wachovia merger resulted in a unique position for Duke Energy to be able to obtain this space."

The Duke Energy Center 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, a coalition of leaders from every sector of the building industry.

"It's important to note, we are not expanding our office space in uptown Charlotte," Rogers said. "The leased space in 550 South Tryon will replace other leases due to expire and will provide high-quality office space at essentially the same cost over the term of the lease." Duke Energy will continue to occupy the 526 South Church Street building that the company owns.

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. The energy company will occupy floors 15 through 22 and 36 through 48.

Duke Energy leases or owns about 1.3 million square feet of office space for approximately 3,000 of its employees in the Charlotte uptown area.

Duke Energy, one of the largest electric power companies in the United States, supplies and delivers electricity to approximately 4 million U.S. customers and natural gas service to approximately 520,000 customers in its regulated jurisdictions. The company has approximately 35,000 net 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 net 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:
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