RALEIGH, N.C. (January 16, 2004) -- Progress Energy's fleet of nuclear-powered generating plants performed at record setting levels during 2003, producing approximately 36 percent of the company's electricity. The nuclear program set a new company record by generating approximately 35 million megawatt-hours (MWH) of electricity during the year for its 2.8 million customers in the Carolinas and Florida.

"Progress Energy's nuclear plant production was above company projections with a combined capacity factor of 96.8 percent," said C.S. "Scotty" Hinnant, Progress Energy's senior vice president and chief nuclear officer. "The fact that three of our five nuclear reactors were out of service for several weeks during the year for scheduled refueling outages makes this capacity factor even more impressive." Capacity factor measures the plants' operating efficiency by comparing how much electricity is actually produced with the amount of electricity the plants are capable of producing.

Each of Progress Energy's nuclear power plants performed at outstanding levels during 2003.

The Brunswick Plant, a two-reactor facility located near Southport, N.C.:

• Generated 14,729,920 MWH of electricity, a new plant record.
• Continued work on a multi phase power uprate project that added 89 megawatts of generation capability to Unit 2 in 2003. Total generation gains for Brunswick are now in excess of 140 megawatts. The extended power uprate project will continue in 2004 and 2005.
• Was selected for the 2003 Marmaduke Award from POWER magazine. The Marmaduke award is given for excellence in power plant operations and maintenance.

The Crystal River Nuclear Plant, located near Crystal River, Fla.:

• Generated 6,579,430 MWH of electricity, a site record for an outage year.
• Replaced reactor vessel head during a successful 32-day refueling outage.
• Partially replaced condenser tube cleaning system to further enhance plant reliability.

The Harris Plant, located near New Hill, N.C.:

• Generated 7,236,924 MWH of electricity, a site record for an outage year.
• Safely completed a 22-day refueling outage, a Progress Energy record for outage duration.
• Continued five-year record of working safely, with more than 6 million work hours logged without a lost-time injury.

The Robinson Plant, located near Hartsville, S.C.:

• Generated 6,439,900 MWH of electricity, a new plant record.
• Achieved a capability factor of 99.8 percent, a new plant record, as a result of uninterrupted operation throughout 2003.
• Was awarded the highest possible rating by the American Nuclear Insurers (ANI), in recognition of Robinson's outstanding safety performance.

In addition to exceptional plant operations throughout 2003, each of the Progress Energy plants achieved record low levels of radiation exposure for employees during the year. "The success of our Nuclear Generation Group reflects our employees' high standards of nuclear safety and our focus on reliable operations," said Hinnant. "Our employees deserve the credit for the nuclear fleet's outstanding performance by operating and maintaining our facilities in a manner that ensures safe, reliable and economic operations both now and into the future."

Progress Energy (NYSE: PGN), headquartered in Raleigh, N.C., is a Fortune 250 diversified energy company with more than 24,000 megawatts of generation capacity and $8 billion in annual revenues. The company's holdings include two electric utilities serving more than 2.8 million customers in North Carolina, South Carolina and Florida. Progress Energy also includes non regulated operations covering competitive generation, energy marketing, natural gas production, 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.

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