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City of Camden, S.C., signs power agreement with Progress Energy

CAMDEN, S.C., March 11, 2003 — The City of Camden, S.C., has extended its wholesale power-supply agreement with Progress Energy Carolinas, continuing a service relationship of nearly 60 years.

Camden, which provides electricity distribution and service to about 9,500 customers in and around the city, represents an electric load of about 50 megawatts (MW). The previous contract, which began July 1, 2000, and was set to run through Dec. 31, 2005, has been extended for three years through Dec. 31, 2008.

“We couldn’t be more pleased with our association with the City of Camden,” said Emerson Gower, Progress Energy Carolinas Southern Region vice president. “This contract extension continues a mutually beneficial relationship that both the City and Progress Energy Carolinas have enjoyed since 1945. We are committed to providing Camden with an affordably priced supply of reliable energy and services, and will strive to maintain the City as a valued customer for many years to come.”

Progress Energy, headquartered in Raleigh, N.C., is a Fortune 250 diversified energy company with more than 21,900 megawatts of generation capacity and $8 billion in annual revenues.

The company’s holdings include two electric utilities, Progress Energy Carolinas and Progress Energy Florida, serving more than 2.7 million customers in North Carolina, South Carolina and Florida.

Progress Energy also includes nonregulated operations covering merchant generation, energy marketing, natural gas exploration, fuel extraction, rail services and broadband capacity. For more information about Progress Energy, visit the company’s Web site at http://www.progress- energy.com.