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Press Release

10/14/2011

Progress Energy invests $1.5 million in Raleigh performing arts groups

Three-year commitment is for groups at the Progress Energy Center for the Performing Arts

RALEIGH, N.C. (Oct. 14, 2011) – The Progress Energy Foundation will invest $1.5 million over the next three years in the performing arts organizations headquartered in Raleigh’s Progress Energy Center for the Performing Arts. The funds will be used to develop the organizations’ programs and productions, as well as create an annual community arts festival called ARTStober.

The resident performing arts organizations of the Progress Energy Center for the Performing Arts are the Carolina Ballet, Hot Summer Nights at the Kennedy, North Carolina Opera, North Carolina Symphony, North Carolina Theatre and PineCone. These organizations offer a wide range of high-quality programming from bluegrass to opera. They employ professional artists, many of whom are based in the Triangle region.

“We’ve had a long-standing relationship with Raleigh and the arts community for many years, and our commitment remains strong,” said Lloyd Yates, president and CEO of Progress Energy Carolinas and a member of the foundation’s board of directors. “We chose to help these talented organizations and fund ARTStober because we want to continue to invest in downtown Raleigh, encourage collaboration and provide financial stability to these groups during difficult economic times.

“The Progress Energy Center for the Performing Arts is more than a venue; it’s a home where local talent can develop. Just like our company, the center has deep roots in Raleigh and will continue to play a leading role in this community for many years.”

The inaugural ARTStober festival is Saturday, Oct. 15, and is free to the public. It will include activities throughout the day for people of all ages and will showcase the diversity of the resident organizations. For more information and a schedule of events, please visit www.progressenergycenter.com.

The Progress Energy Foundation is funded each year by the company’s board of directors from shareholder funds. This year, the foundation has also invested $400,000 in K-12 education in the Carolinas and provided a 50 percent match to employee contributions in the company’s annual Employee Giving Campaign. This campaign has resulted in more than $3.3 million contributed to charitable organizations in the Carolinas and Florida in 2011.

About Progress Energy
Progress Energy (NYSE: PGN), headquartered in Raleigh, N.C., is a Fortune 500 energy company with more than 22,000 megawatts of generation capacity and approximately $10 billion in annual revenues. Progress Energy includes two major electric utilities that serve about 3.1 million customers in the Carolinas and Florida. The company has earned the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence, and was the first utility to receive the prestigious J.D. Power and Associates Founder's Award for customer service. The company is pursuing a balanced strategy for a secure energy future, which includes aggressive energy-efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. Progress Energy celebrated a century of service in 2008. Visit the company’s website at www.progress-energy.com.

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