NEW YORK (Standard&Poor's CreditWire) July 28, 1999--Standard&Poor's today placed its long-term ratings of Duke Energy Corp. and its affiliates, with the exception of Duke Energy Trading and Marketing LLC, on CreditWatch with negative implications (see list below). The 'A-1' short-term ratings for Duke Energy and Duke Capital Corp. were affirmed. The rating for Duke Energy Trading and Marketing remains on CreditWatch with positive implications pending the merger of Mobil Corp. and Exxon Corp. The CreditWatch listings reflect Duke's announcement that its nonregulated subsidiary, Duke Energy International, has won the bid to acquire a controlling interest in Companhia de Geracao de Energia Eletrica Paranapanema (Paranapanema) for US$680 million. Paranapanema has an installed capacity of 2,307MW, including eight
