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DUKE ENERGY TO OPEN HONG KONG OFFICE

 CHARLOTTE, N.C., Dec. 29 /PRNewswire/ -- Duke Energy announced today that it will open a Hong Kong office in January 1994 to concentrate on electric power opportunities in the Pacific Rim and China. Heading up the company's Hong Kong-based operation, called Duke Energy Asia Ltd., will be A. Parks Cobb Jr., managing director, and Paul J. Bradley, director of project development.
 One of the company's first ventures will be the acquisition and operation of electric generation and related facilities at Freeport- McMoRan's Irian Jaya, Indonesia, mining operation. A letter of intent was announced Dec. 5, 1993. A final agreement is expected to be concluded by mid 1994.
 Cobb joined Duke Energy in September 1993 as senior vice president, bringing more than 20 years of experience with Duke Power affiliate companies. Cobb's most recent experience with Duke has been in the startup and management of two unregulated subsidiaries: Duke Engineering and Services Inc., for engineering and technical services, and Duke/Fluor Daniel, for power project turnkey design and construction. Cobb has also been involved in corporate planning and analysis for Duke Power's expanding business opportunities, including merger and acquisition strategies and evaluations, as well as corporate and major business unit strategic and business planning.
 Cobb is a graduate of the North Carolina State University where he received a bachelor of science degree in mechanical engineering. He is a registered professional engineer in North Carolina and South Carolina.
 Bradley joined Duke Energy in March 1993 as director of finance. Prior to joining Duke Energy, Bradley was director of finance for four years for Crescent Resources, Inc., Duke Power's real estate subsidiary. Bradley has also served as controller of Lincoln Property Company and as a senior accountant at Arthur Andersen & Co.
 Bradley is a graduate of Boston College where he received a bachelor of science degree in business management with a concentration in accounting. Bradley is a licensed certified public accountant in North Carolina and a licensed real estate broker.
 Formed in 1988, Duke Energy is Duke Power Co.'s (NYSE: DUK) independent power development arm. Duke Energy has equity and operating interests in two U.S. and two Argentine electric generation facilities and an Argentine transmission system. The plants represent approximately 1,800 MW of capacity and approximately $2 billion in assets.
 -0- 12/29/93
 /CONTACT: Anne Sheffield of Duke Energy, 704-382-8063 or (Home) 704- 372-6859/
 (DUK)


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

CM-MB -- CH002 -- 7814 12/29/93 13:50 EST
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Publication:PR Newswire
Date:Dec 29, 1993
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