We are Duke Energy, a leading energy company located in the Americas with an affiliated real estate operation.

Our purpose is to create superior and sustainable value for our customers, employees, communities and investors through the production, conversion, delivery and sale of energy and energy services.

To be a leader in a new era of growth, we must:

• Establish an industry-leading electric power platform through successful execution of the merger with Cinergy.
• Continue to build a high-performance culture focused on safety, diversity and inclusion, employee development, leadership and results.
• Deliver on our 2006 financial objectives and position the company for growth in 2007 and beyond.
• Complete the Duke Energy North America exit and pursue strategic portfolio opportunities.
• Build credibility through leadership on key policy issues, transparent communications and excellent customer service.

In conducting our business, we value:

• Stewardship – A commitment to health, safety, environmental responsibility and our communities.
• Integrity – Ethically and honestly doing what we say we will do.
• Respect for the Individual – Embracing diversity and inclusion, enhanced by openness, sharing, trust, teamwork and involvement.
• High Performance – Achieving superior business results and stretching our capabilities.
• Win-Win Relationships – Having relationships which focus on the creation of value for all parties.
• Initiative – Having the courage, creativity and discipline to lead change and shape the future.

We will be successful when:

• Our investors realize a superior return on their investment.
• Our customers and suppliers benefit from our business relationships.
• The communities in which we operate value our citizenship.
• Every employee starts each day with a sense of purpose, and ends each day safely with a sense of accomplishment.