Duke Energy Announces Leadership Changes

November 14, 2008

CHARLOTTE, N.C., Nov. 14 /PRNewswire-FirstCall/ — Duke Energy is making several leadership changes to better align its organization with business priorities. The following changes are effective Dec.1, but transitions begin immediately:

— Ellen T. Ruff, currently president of Duke Energy Carolinas, will become president, office of nuclear development. She will work to further the development of new nuclear generation in the Carolinas, including the development of the company’s proposed Lee Nuclear Station in South Carolina. This is a new position that will report directly to Duke Energy Chairman, President and CEO Jim Rogers.

— Sandra P. Meyer will become senior vice president of power delivery for U.S. Franchised Electric and Gas (FE&G), which handles the electric transmission and distribution systems in Duke Energy’s five-state utility service area. Meyer succeeds Theopolis Holeman, who is leaving Duke Energy at the end of November. Meyer currently serves as president, Duke Energy Ohio and Duke Energy Kentucky.

— Brett C. Carter, currently senior vice president of customer service and business development, will replace Ruff as president of Duke Energy Carolinas.

— Julie S. Janson replaces Meyer as president, Duke Energy Ohio and Duke Energy Kentucky, moving from her current position as senior vice president of ethics and compliance, and corporate secretary.

— In their respective states, Carter and Janson will be responsible for advancing the company’s rate and regulatory initiatives, and managing state and local regulatory and governmental relations, economic development and community affairs. They will also focus on education and advocacy on issues important to Duke Energy.

Duke also announced additional leadership changes:

— Gianna M. Manes, currently senior vice president of regulated portfolio optimization and fuels, will become senior vice president, retail customer services, FE&G. Functions that will be part of her organization include call center operations, revenue services, marketing and large business customers.

— With Manes’ move, Paul R. Newton, senior vice president, legal, FE&G, will become senior vice president, wholesale customers and regulated commodity management for FE&G. His responsibilities will include purchases and sales of electricity with the wholesale market, as well as purchases and delivery of coal and natural gas to the generation fleet.

— Catherine S. Stempien will become senior vice president, legal, FE&G, replacing Newton. She currently serves as senior vice president, corporate legal services. Chief Legal Officer Marc E. Manly will name her successor shortly. With Janson’s move, Manly will assume the additional responsibilities of corporate secretary.

— Jeffery G. Browning, vice president of audit services, will also lead the ethics and compliance group, which had reported to Janson. His title will be vice president of audit services, and chief ethics and compliance officer.

“We’re making these moves to strengthen our focus on new generation, delivery efficiency and service excellence,” said Rogers. “This represents the best organization for us to continue meeting the needs of our customer base.”

Biographical Information

— Ruff joined Duke Power in 1978 as an attorney in the legal department. Before becoming president of Duke Energy Carolinas, she served as group vice president of planning and external relations for Duke Power. She was named to her current position in April 2006.

— Meyer joined the company following the merger with PanEnergy in 1997. She has served as group vice president of customer service, sales and marketing for Duke Power. She was named to her current position in April 2006.

— Carter was named to his current position in November 2006. He joined Duke Energy in 2005 as vice president of residential and small business customers.

— Janson has been in her current position since April 2006. Before that, she served as corporate secretary and chief compliance officer with Cinergy, which merged with Duke Energy in 2006.

— Manes started with the company in June 1987 as an engineer. She has held various positions, including working on international projects. In 2005, she served as vice president of integration for the Duke Energy-Cinergy merger. She was named to her current position in April 2006.

— Newton began his career with the company in 1990 as senior attorney. Since then, he has assumed increasing legal responsibility and corporate accountabilities. He was named to his current position following the merger of Duke Energy and Cinergy in April 2006.

— Stempien was named to her current position in April 2006. Before that, she served as associate general counsel for Cinergy.

— Browning joined Duke Energy in January 2001 and has held various positions in the financial services industry, including vice president of audit services for Genworth Financial and audit director for Transamerica Corp.

Duke Energy, one of the largest electric power companies in the United States, supplies and delivers electricity to approximately 4.0 million U.S. customers in its regulated jurisdictions. The company has approximately 35,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company. 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/.

   (Logo:  http://www.newscom.com/cgi-bin/prnh/20040414/DUKEENERGYLOGO )    MEDIA CONTACT  Tom Shiel   Phone:         704-382-2235   24-Hour:       704-382-8333  

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Duke Energy

CONTACT: Tom Shiel of Duke Energy +1-704-382-2235, 24-Hour,+1-704-382-8333

Web site: http://www.duke-energy.com/

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