Duke Energy DEC_3Q04_EPS_Reconciliation

Duke Energy provided a reconciliation of reported earnings per share for the third quarter and year-to-date 2003 and 2004. Several one-time gains and losses were identified for both years, including asset sales, impairments, settlements and tax adjustments. Excluding these one-time items, ongoing earnings per share were $0.35 for the third quarter of 2003 and $1.07 year-to-date, compared to $0.38 for the third quarter of 2004 and $1.15 year-to-date. The reconciliation identified various factors across Duke Energy's business segments that impacted reported results.