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DUKE POWER CO. TO REDEEM PREFERRED SERIES K

 CHARLOTTE, N.C., Feb. 12 /PRNewswire/ -- Duke Power Co. (NYSE: DUK) said today that on March 16, the company will redeem all shares of its 8.28 percent Series K Cumulative Preferred Stock.
 The 8.28 percent Series K, with an outstanding par value of $50 million, will be redeemed at $101.35 per share, plus the previously declared dividend payable on March 16.
 A redemption notice for the issue will be mailed to all shareholders on Feb. 12. Duke Power will act as the redemption agent. Address: Duke Power, Investor Relations, P.O. Box 1005, Charlotte, N.C. 28201-1005.
 Duke will use the proceeds from $50 million of 7.0 percent Series W Cumulative Preferred Stock, priced Feb. 1, to redeem the issue.
 -0- 2/12/93
 /CONTACT: Randy Wheeless, Duke Power Co., (Office) 704-382-8379 or (Home) 704-535-8743, 704-594-0681/
 (DUK)


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

JM -- CH003 -- 6021 02/12/93 08:11 EST
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Publication:PR Newswire
Date:Feb 12, 1993
Words:160
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