October 6, 2008

Progress Energy Third-Quarter Earnings Release Webcast Set for Oct. 31

RALEIGH, N.C., Oct. 6 /PRNewswire-FirstCall/ -- Progress Energy will hold a conference call to discuss third-quarter earnings results on Friday, Oct. 31. The conference call will begin at 10 a.m. ET (7 a.m. PT) and will be webcast to the general public. The call will be hosted by Chairman, President and Chief Executive Officer Bill Johnson and Chief Financial Officer Mark Mulhern.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-c )

Investors, media and the public may listen to the conference call by dialing 913-312-1269, confirmation code 7790547. If you encounter problems connecting to the conference call, please contact Investor Relations at 919-546-6057.

A webcast of the live conference call will be available at http://www.progress-energy.com/webcast. The webcast will be available in Windows Media format. The webcast will be archived on the site for at least 30 days following the call for those unable to listen in real time. A playback of the entire conference call will be available from 1 p.m. ET Oct. 31 through midnight Nov. 13. To listen to the recorded call, dial 719-457-0820 and enter confirmation code 7790547.

Progress Energy, headquartered in Raleigh, N.C., is a Fortune 250 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues. The company is observing its 100th anniversary in 2008. Progress Energy includes two major utilities that serve 3.1 million customers in the Carolinas and Florida. The company is the 2006 recipient of the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence. The company also is the first utility to receive the prestigious J.D. Power and Associates Founder's Award for customer service. Progress Energy serves two growing areas of the country, and the company is pursuing a balanced strategy for a secure energy future. That balance includes aggressive energy efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. For more information about Progress Energy, visit the company's Web site at http://www.progress-energy.com/.

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Progress Energy

CONTACT: Corporate Communications, +1-919-546-6189 or toll-free+1-877-641-NEWS (6397)

Web site: http://www.progress-energy.com/http://www.progress-energy.com/webcast