Notice of Annual Meeting

Progress Energy’s 2005 annual meeting of shareholders will be held on May 11, 2005, at 10 a.m. at the Hilton St. Petersburg, in St. Petersburg, Fla. A formal notice of the meeting with a proxy statement will be mailed to shareholders in early April.

Transfer Agent and Registrar Mailing Address

Progress Energy, Inc.
c/o EquiServe Trust Company
250 Royall Street
Canton, MA 02021
Toll-free phone number: 1.866.290.4388

Shareholder Information and Inquiries

Obtain information on your account 24 hours a day, seven days a week by calling our stock transfer agent’s shareholder information line. This automated system features Progress Energy’s common stock closing price, dividend information, stock transfer information and the option to speak with a shareholder services representative. Call toll-free 1.866.290.4388.

You may direct other questions concerning stock ownership to Progress Energy’s Shareholder Relations via e-mail at shareholder.relations@pgnmail.com or by writing to the following address:

Progress Energy, Inc.
Shareholder Relations
P.O. Box 1551
Raleigh, NC 27602-1551

Stock Listings

Progress Energy’s common stock is listed and traded under the symbol PGN on the New York Stock Exchange in addition to regional stock exchanges across the United States.

Shareholder Programs

Progress Energy offers the Progress Energy Investor Plus Plan, a direct stock purchase and dividend reinvestment plan, and direct deposit of cash dividends to bank accounts for the convenience of shareholders. For information on these programs, contact our transfer agent at the above address or call them toll-free at 1.866.290.4388.

Proxy material, including the annual report, can be electronically delivered to shareholders. Electronic delivery provides immediate access to proxy material and allows Internet voting while saving printing and mailing costs. To take advantage of electronic delivery of proxy material, go to econsent.com/pgn and follow the instructions.

We also offer online access to shareholder accounts. To obtain online access to your shareholder account, go to equiserve.com. If you have access to Progress Energy’s annual report at your address, and do not want to receive a copy for your shareholder account, please call our transfer agent, EquiServe, toll-free at 1.866.290.4388 to discontinue receiving annual reports by mail.

Securities Analyst Inquiries

Securities analysts, portfolio managers and representatives of financial institutions seeking information about Progress Energy should contact Robert F. Drennan Jr., manager, Investor Relations, at the corporate headquarters’ address or 919.546.7474.

Additional Information

Progress Energy files periodic reports with the Securities and Exchange Commission that contain additional information about the company. Copies are available to shareholders upon written request to the company’s treasurer at the corporate headquarters' address.

This annual report is submitted for shareholders’ information. It is not intended for use in connection with any sale or purchase of, or any offer or solicitation of offers to buy or sell, securities.

NYSE Certifications

Because Progress Energy’s common stock is listed on the New York Stock Exchange (“NYSE”), our chief executive officer is required to make, and he has made, an annual certification to the NYSE stating that he was not aware of any violation by us of the corporate governance listing standards of the NYSE. Our chief executive officer made his annual certification to that effect to the NYSE as of June 10, 2004. In addition, we have filed, as exhibits to the Annual Report on Form 10-K, the certifications of our principal executive officer and principal financial officer required under Section 302 of the Sarbanes-Oxley Act of 2002 to be filed with the Securities and Exchange Commission regarding the quality of our public disclosure.

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