Fourth Quarter 2004 Earnings

Duke Energy today reported 2004 basic earnings per share (EPS) of $1.59, or $1.49 billion in net income, compared to a loss of ($1.48) per share in 2003, or a $1.32 billion loss. On a fully diluted basis, 2004 earnings were $1.54 per share, compared to a loss of ($1.48) in 2003. Ongoing basic EPS for 2004, which excludes special items, was $1.38 versus $1.28 in 2003. An earnings conference call for analyst is scheduled for 10 a.m. ET on Wednesday, November 3.

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