Duke Energy Corp.

Duke Energy Corp.

February 24, 2005 08:45 ET

Duke Energy Gas Transmission Increases Scale and Scope of Western Canadian Operations


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: DUKE ENERGY CORP.

NYSE SYMBOL: DUK

FEBRUARY 24, 2005 - 08:45 ET

Duke Energy Gas Transmission Increases Scale and Scope
of Western Canadian Operations

CALGARY, ALBERTA--(CCNMatthews - Feb. 24, 2005) - Duke Energy Corp.
(NYSE:DUK)

Duke Energy Gas Transmission (DEGT) announced today that it will
integrate into DEGT's operations in western Canada, the Canadian
operations of Duke Energy Field Services (DEFS) and ConocoPhillips'
interest in its Empress system. The announcement follows today's news
that Duke Energy and ConocoPhillips have signed an agreement to
restructure the DEFS joint venture.

The DEFS Canadian business consists of natural gas gathering and
processing facilities in Alberta and British Columbia. The Empress
system operations include natural gas liquids extraction and
fractionation facilities in Alberta, related liquids transportation and
storage operations, and a Calgary-based logistics group (See the
following link for the Fact Sheet:
http://www2.ccnmatthews.com/database/fax/2000/DUK0224.pdf )

"These businesses are a very good strategic fit with DEGT's operations
in western Canada," said Doug Haughey, president, DEGT West. "The
combination of great people and great assets will dramatically increase
the scale and scope of DEGT's operations in the region."

The transaction is subject to customary government and regulatory
approvals and is expected to close in the second quarter or third
quarter of 2005.

Duke Energy Gas Transmission is a North American leader in developing
energy infrastructure and connecting major natural gas supply basins to
growing markets. The company's natural gas operations include more than
17,500 miles of transmission pipeline and 250 billion cubic feet of
storage capacity in Canada and the United States. More information on
DEGT can be found at:
http://www.duke-energy.com/businesses/companies/degt.asp.

Duke Energy is a diversified energy company with a portfolio of natural
gas and electric businesses, both regulated and unregulated, and an
affiliated real estate company. Duke Energy supplies, delivers and
processes energy for customers in the Americas. 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: http://www.duke-energy.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Duke Energy Corp.
    Toni Beck
    (403) 699-1510 or 24-Hour: (704) 382-8333
    www.duke-energy.com