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BILL LEE, DUKE POWER CEO, TO ANNOUNCE SUCCESSOR JAN. 25

 CHARLOTTE, N.C., Jan. 10 /PRNewswire/ -- William S. (Bill) Lee, president, chief executive officer and chairman of Duke Power Co. (NYSE: DUK), will announce his successor at a news conference Jan. 25, immediately following the company's board of directors meeting.
 Lee, 64, who has served as Duke Power's CEO for 12 years, will still remain in his present duties until the company's annual meeting on April 28. He will continue to serve as a consultant to the company until his official retirement in June.
 Duke Power is the nation's seventh largest investor-owned electric utility -- serving 1.7 million customers in North Carolina and South Carolina, with 1992 revenues of almost $4 billion.
 A native of Charlotte and the grandson of Duke's first chief engineer, Lee is a civil engineering graduate from Princeton University. He is a registered professional engineer in North Carolina and South Carolina.
 After serving in the U.S. Navy Civil Engineering Corp., Lee joined Duke Power's engineering department in 1955 as a junior engineer. Following several promotions within that department, he was named vice president -- engineering in 1965 and a Duke Power board member in 1968.
 He was promoted to senior vice president -- engineering and construction and joined the company's executive committee in 1971. He became executive vice president in 1976, president and chief operating officer in 1978, and chairman and chief executive officer in 1982. He was named chairman and president in 1989.
 For four consecutive years, Lee was named a winner in the business magazine Financial World's CEO of the Year Competition, receiving a silver award in 1985 and 1986, a bronze award in 1987 and a silver award in 1988. Lee also won silver awards in 1991 and 1992. In 1989, the magazine named Lee the Utility CEO of the Decade.
 Lee has significantly contributed to the advancement of consistent global operating standards for nuclear power plants. He was instrumental in the founding of the Institute of Nuclear Power Operations in 1979 -- serving as chairman from 1979 to 1982. He also was a catalyst in the founding of the World Association of Nuclear Operators in 1987.
 In 1991, Lee received the Charlotte World Affairs Council's World Citizen Award for his efforts to improve safety of nuclear power worldwide.
 Lee serves as a director of J.P Morgan & Co., Morgan Guaranty Trust Co., the Liberty Corp., Texas Instruments and Knight-Ridder Inc.
 -0- 1/10/94
 /CONTACT: Randy Wheeless of Duke Power, 704-382-8379, or (24-hour) 704-594-0681/
 (DUK)


CO: Duke Power Co. ST: North Carolina, South Carolina IN: UTI SU: PER

MB-CM -- CH005 -- 0543 01/10/94 11:41 EST
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Date:Jan 10, 1994
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