Duke Energy declares quarterly dividend

CHARLOTTE, N.C., April 25, 2002 — Duke Energy Thursday announced its quarterly cash dividend on its common stock of U.S. $0.275 a share. The dividend is payable on June 17, 2002, to shareholders of record on May 17, 2002.

This is the 76th consecutive year that Duke Energy has paid quarterly cash dividends on its common stock.

Duke Energy Canada Exchangeco Inc., a subsidiary of Duke Energy, today also announced a quarterly cash dividend on its exchangeable shares of Cdn. $0.43 per exchangeable share. The dividend is payable on June 17, 2002, to shareholders of record on May 17, 2002.

Duke Energy, a diversified multinational energy company, has an integrated network of energy assets and expertise. Duke Energy manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses — generating revenues of more than $59 billion in 2001.

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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