A U.S.-Chinese Spirit of Cooperation Will Lead to Success at Copenhagen

COPENHAGEN, December 7 - The following is a joint statement issued today by Jim Rogers, chairman,
president and CEO of Duke Energy, the third-largest electric power holding
company in the U.S., and Wang Yusuo, chairman of ENN Group, one of the
largest private energy companies in China.

(Logo: www.newscom.com/cgi-bin/prnh/20040414/DUKEENERGYLOGO )

"Cooperation between government and business leaders from China and the
U.S., the world's two largest industrial nations, is a key to the success of
the United Nations Climate Change Conference in Copenhagen.

"ENN, one of the largest private energy companies in China, and Duke
Energy, one of the largest electric utilities in the U.S., have started this
work by joining forces to develop advanced solar energy and clean energy
technologies. These include combining advanced coal, gas and power, and
bio-energy technologies with capabilities to absorb carbon dioxide.

"We believe that this type of cooperation will yield results faster and
more economically for the tens of millions of customers who depend on our
companies for energy.

"China and the U.S. bring extraordinary and complementary skills to
commercialize low-carbon technologies to address climate change. China's 1.3
billion people and unmatched economies of scale can develop and deploy new
technologies at a speed virtually impossible anywhere else in the world. As
the world's largest economy, the U.S. has one of the world's most productive
workforces, an unmatched higher education system and a highly reliable and
efficient electricity system.

"Each nation plans to make major investments in advanced wind, solar,
biomass and smart grid infrastructure in the coming years. China and the U.S.
produce 80 and 50 percent of their electricity from coal, respectively, and
are committed to replacing older coal plants with cleaner technologies. Each
country is also aggressively pursuing nuclear energy, which is the only power
source that can produce electricity around the clock with no greenhouse gas
emissions.

"By working together to forge new partnerships and agreements, leading
Chinese and U.S. energy and technology companies - at times working with
their governments - can create a ladder of cooperation to lead the world
forward on climate change.

"Duke Energy also has an agreement to work with the Huaneng Group,
China's largest power generator, to explore potential long-term cooperative
initiatives to reduce coal plant emissions and develop other renewable
sources of electricity generation. Other U.S. and Chinese companies have
similar working relationships that hold tremendous promise to advance and
'scale up' technologies faster than companies in each nation could do on
their own.

"The sooner we get to work on achieving emissions reductions that
scientists say are critical to avoiding catastrophic climate change, the less
expensive the transition to a low-carbon economy will be.

"It is our hope that the Duke Energy-ENN agreement and similar
partnerships can foster the emerging cooperation we see developing between
our two countries. As the world's two largest industrial nations - and
largest contributors of greenhouse gases - we can and should lead the world
in solving this critical environmental problem. And we are prepared to do so.

"We urge our leaders at Copenhagen to join us and others in the business
community in our spirit of cooperation to work together to find technological
solutions to climate change. We must work together to make the U.N. Climate
Change Conference a success."

About ENN:

ENN is committed to clean energy for China and the world. Since its
founding 20 years ago, ENN has grown into an integrated group of companies
that delivers clean energy to tens of millions of customers and provides
overall clean energy solutions to newly-built or upgraded business parks,
large-scale industrial enterprises and public works. ENN has more than 100
subsidiaries in over 80 cities across China and around the world, and employs
more than 24,000 people. Additional information about ENN is available on the
Internet at: www.enn.cn/en/index/index.html.

About Duke Energy Corporation:

Duke Energy (NYSE: DUK) is the third largest electric power holding
company in the United States, based on kilowatt-hour sales. Its regulated
utility operations serve approximately 4 million customers located in five
states - North Carolina, South Carolina, Indiana, Ohio and Kentucky -
representing a population of approximately 11 million people. Duke Energy's
commercial power and international business segments operate diverse power
generation assets in North America and Latin America, including a growing
portfolio of renewable energy assets in the United States. 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: www.duke-energy.com/.

    DUKE ENERGY
    Tom Williams
    +1-980-373-4743
    +1-800-559-3853

    ENN GROUP
    Li Xiaofei
    +86-316-2599975

Tom Williams of Duke Energy, +1-980-373-4743, +1-800-559-3853, or First Call contact, Sean Trauschke, +1-980-373-7905; Li Xiaofei of ENN GROUP, +86-316-2599975