Cinergy Announces Management Changes in Finance Area.

Energy Editors/Business Editors

CINCINNATI--(BUSINESS WIRE)--May 13, 2003

Cinergy Corp. (NYSE:CIN) announced today that Bernard F. Roberts has been elected vice president, compliance in the company's finance area, and David L. Wozny has been elected comptroller succeeding Roberts, effective May 15, 2003.

"The Sarbanes-Oxley Act of 2002 established new comprehensive and complex financial reporting requirements for all public corporations and increased scrutiny over the quality and accuracy of financial reporting," said R. Foster Duncan, executive vice president and chief financial officer. "In his new position as chief compliance officer, Bernie will be responsible for oversight of Cinergy's existing disclosure controls and related procedures that support senior management certification of our financial reports."

The company also announced the appointment of Lynn J. Good to the position of vice president, financial policy and strategy. In this new position, Good will oversee strategic planning for policy and improvement initiatives in finance and accounting throughout the company. In addition, she, along with the corporate comptroller, will be responsible for the oversight of accounting policies and practices.

Good most recently was a partner in the Cincinnati office of Deloitte & Touche, where she had responsibility for serving a number of energy clients. She has spent her career in the energy industry and has been involved in a variety of mergers, acquisition and divestiture projects, including assisting in financial due diligence and financial analysis.

Prior to joining Deloitte & Touche, Good was a partner with Arthur Andersen where she had regional responsibility for Andersen's risk consulting practice, which included internal audit services and technology risk consulting, in Ohio, Michigan, and Kentucky. Her experience includes enterprise wide risk assessment, business self-assessments and process reviews. Good holds a bachelor of science degree in systems analysis and a bachelor of science degree in accounting from Miami University.

Roberts was initially employed by PSI Energy in 1974 and has held various accounting and finance related positions, including corporate accounting manager, executive director - internal auditing, assistant comptroller and assistant treasurer. Following the 1994 merger of PSI Energy and The Cincinnati Gas & Electric Company, he was appointed assistant treasurer of Cinergy and its subsidiary companies and later served as vice president, finance for the energy commodities business unit. In 1999, he was appointed to his current position of vice president and comptroller.

Roberts received his bachelor of science degree from the University of Indianapolis, with dual majors in business administration and accounting and a master of business administration degree from Butler University.

Wozny joined Cinergy in 1996 after a career in public accounting with Arthur Andersen. While at Andersen, he had extensive experience in the regulated industry environment. Most recently, he has been chief financial officer for the chief administrative officer organization and previously was senior vice president & chief financial officer for the company's international operations. He holds a bachelor of science degree in accounting from Ball State University.

Cinergy Corp. has a balanced, integrated portfolio consisting of two core businesses: regulated operations and energy merchant. Cinergy owns regulated delivery operations in Ohio, Indiana, and Kentucky that serve 1.5 million electric customers and about 500,000 gas customers. In addition, its Indiana regulated operations own 7,000 megawatts of generation. Cinergy's energy merchant business is a Midwest leader in low-cost generation owning 6,300 megawatts of capacity with a profitable balance of stable existing customer portfolios, new customer origination, marketing and trading, and industrial-site cogeneration. The "into Cinergy" power-trading hub is the most liquid trading hub in the nation.