Barry joins Duke Energy as vice president, mergers and acquisitions

CHARLOTTE, N.C., June 17, 2002 — Paul H. Barry has joined Duke Energy as vice president, mergers and acquisitions.

For the past three years, Barry had been vice president at GE Capital Services Structured Finance Group — responsible for certain business development activities including identifying, structuring, negotiating and integrating merger and acquisition transactions and equity ventures within strategic investment sectors.

Prior to that, he spent three years at CBS Corp. (formerly Westinghouse Electric Corp.) as director, corporate finance. He also spent five years at Amoco — his final two years as director, acquisitions and divestitures.

Barry, who grew up in Andover, Mass., earned a bachelor of science degree in finance magna cum laude from Northeastern University and a master’s in business administration degree from Harvard University.

Duke Energy is a diversified multinational energy company with an integrated network of energy assets and expertise. The company manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses — meeting the energy needs of customers throughout North America and in key markets around the world. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 100 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.

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