Financial Astrology of Progress Energy, Inc.

FINANCIAL ASTROLOGY

First Trade Date for Progress Energy, Inc.

Company Name	First Trade Date (yyyy-mm-dd)
Progress Energy, Inc.	2000-12-11

Company Name	Symbol
Progress Energy, Inc.	PGN
History and Business of Company (this information may include date of incorporation)
Progress Energy, Inc. (Progress Energy or the Company, which includes consolidated subsidiaries unless otherwise indicated) is a registered holding company under the Public Utility Holding Company Act of 1935 (PUHCA) and is an integrated energy company located principally in the southeast region of the United States. Both the Company and its subsidiaries are subject to the regulatory provisions of PUHCA. Progress Energy was incorporated on August 19, 1999. The Company was initially formed as CP&L Energy, Inc. (CP&L Energy), which became the holding company for Carolina Power & Light Company (CP&L) on June 19, 2000. All shares of common stock of CP&L were exchanged for an equal number of shares of CP&L Energy common stock. Effective January 1, 2003, CP&L, Florida Power Corporation and Progress Ventures, Inc. began doing business under the names Progress Energy Carolinas, Inc. (PEC), Progress Energy Florida, Inc. (PEF) and Progress Energy Ventures, Inc. (Progress Ventures), respectively. The legal names of these entities have not changed and there was no restructuring of any kind related to the name change. The current corporate and business unit structure remains unchanged. Through its wholly-owned regulated subsidiaries PEC and PEF, Progress Energy is primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina, South Carolina and Florida. Through its Competitive Commercial Operations (CCO) business segment, Progress Energy is involved in nonregulated electricity generation operations. Through its Fuels business segment (Fuels), Progress Energy is involved in natural gas drilling and production, coal terminal services, coal mining, synthetic fuel production, fuel transportation and delivery. Both CCO and Fuels are involved in limited energy trading activities. Through its Rail Services business segment (Rail Services), Progress Energy engages in various rail and railcar related services. The Other Businesses segment primarily includes telecommunication services, miscellaneous nonregulated activities, and holding company operations. For information regarding the revenues, income and assets attributable to the Company's business segments, see PART II, ITEM 8, Note 19 to the Progress Energy Consolidated Financial Statements. The Company has more than 24,000 megawatts (MW) of electric generation capacity and serves more than 2.8 million retail electric customers in portions of North Carolina, South Carolina and Florida. PEC's and PEF's utility operations are complementary: PEC has a summer peaking demand, while PEF has a winter peaking demand. In addition, PEC's greater proportion of commercial and industrial customers combined with PEF's greater proportion of residential customers creates a balanced customer base. The Company is dedicated to expanding the region's electric generation capacity and delivering reliable, competitively priced energy. Progress Energy revenues for the year ended December 31, 2003 were $8.7 billion and assets at year-end were $26.2 billion. Its principal executive offices are located at 410 South Wilmington Street, Raleigh, North Carolina 27601, telephone number (919) 546-6111. The Progress Energy home page on the Internet is located at http://www.progress-energy.com, the contents of which are not and shall not be deemed a part of this document or any other U.S. Securities and Exchange Commission (SEC) filing. The Company makes available free of charge on its website its annual report on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and all amendments to those reports as soon as reasonably practicable after such material is electronically filed with or furnished to the SEC.

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