Jim Rhodes named to Duke Energy board

CHARLOTTE, N.C., Oct. 30, 2001 – Dr. James T. Rhodes, a veteran of more than 30 years in the energy industry, has been named to the Duke Energy board of directors the company announced today.

Rhodes recently retired as chairman, president and chief executive officer of the Institute of Nuclear Power Operations (INPO) – an Atlanta-based organization dedicated to promoting the highest levels of safety and reliability at the nation’s nuclear power plants.

Prior to that, he served as president and chief executive officer of Virginia Power in Richmond, Va., where he rose through the ranks in a 26-year career at the energy company. He was previously a project engineer in the U.S. Army nuclear power program and before that, was employed by Martin Marietta’s nuclear division.

“Jim brings tremendous nuclear expertise to our board, having successfully led INPO, the premier U.S. nuclear safety organization,” said Richard Priory, chairman, president and chief executive officer of Duke Energy. “In addition to his specific nuclear focus, Jim will also contribute valuable insights and experience from his CEO tenure at Virginia Power, and our shareholders will benefit from his first-hand knowledge in the wide range of energy issues facing the company.”

Rhodes earned his undergraduate degree in physics in 1963 from North Carolina State University. He earned his master’s degree in nuclear engineering from Catholic University in 1968 and his doctorate in nuclear engineering from Purdue University in 1972.

Duke Energy, a diversified multinational energy company, has an integrated network of energy assets and expertise. Duke Energy manages a portfolio of natural gas and electric supply, delivery and trading businesses – generating revenues of more than $49 billion in 2000.

More information about the company is available on the Internet at: www.duke-energy.com.

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