13 - Preferred and Preference Stock

	Selected Financial Data
	Consolidated Statements of Income and Comprehensive Income
	Consolidated Balance Sheets
	Consolidated Statements of Cash Flows
	Consolidated Statements of Common Stockholders' Equity
	1- Summary of Significant Accounting Policies
	2- Business Combinations, Acquisitions and Dispositions
	3- Business Segments
	4- Regulatory Matters
	5- Joint Ownership of Generating Facilities
	6- Income Taxes
	7- Risk Management and Financial Instruments
	8- Investments in Affiliates
	9 - Property, Plant and Equipment
	10 - Debt and Credit Facilties
	11- Nuclear Decommissioning Costs
	12 - Guaranteed Preferred Beneficial Interests in Subordinated Notes of Duke Energy or Subsidiaries
	13 - Preferred and Preference Stock
	14 - Commitments and Contingencies
	15 - Common Stock
	16 - Stock Based Compensation
	17 - Employee Benefit Plans
	18 - Quarterly Financial Data
	19 - Subsequent Events
	Auditors' Report

13- PREFERRED AND PREFERENCE STOCK

As of December 31, 1999 and 1998, there were no shares of preference stock outstanding.

The annual sinking fund requirements for 2000 through 2004 are $33 million, $33 million, $13 million, $2 million and $2 million, respectively. Some additional redemptions are permitted at Duke Energy's option.

The call provisions for the outstanding preferred stock specify various redemption prices not exceeding 104% of par value, plus accumulated dividends to the redemption date.
During February 1998, Duke Energy purchased approximately two million shares of its preferred stock for $180 million. During December 1997, Duke Energy redeemed approximately three million shares of preferred stock for $203 million. The premiums related to these redemptions were included in the Consolidated Statements of Income and Comprehensive Income as Dividends and Premiums on Redemptions of Preferred and Preference Stock for 1997.