Duke/Fluor Daniel Chosen to Build Trinidad Power Plant

November 10, 1998

Duke/Fluor Daniel International Services, a partnership between Duke Energy and Fluor Daniel, announced today that it has been awarded a contract by InnCOGEN Limited, the wholly owned Trinidadian subsidiary of York Research Corporation, to provide construction services for a 225-megawatt, natural gas fired power plant in the country of Trinidad and Tobago. The power plant will be designed to use three MS7111 (EA) gas turbines in simple cycle operation. Duke/Fluor Daniel International Services' contract value was not disclosed.

The $100-million power plant will be built near the Port of Point Lisas on the island of Trinidad and is expected to be fully operational by September 1999. Electricity from the power plant will be sold to Trinidad and Tobago Electric Commission (T&TEC). Construction at the site started in October, with engineering and procurement already in process.

The project will serve the growing need for electric power on the island of Trinidad. Duke/Fluor Daniel International Services anticipates that the project will provide a significant number of craft labor jobs to qualified people in Trinidad during the construction phase of the project.

"We are planning to design and construct a power plant for InnCOGEN with the high level of quality our customers are accustomed to receiving, within the short time frame required for commercial operation. We look forward to working with InnCOGEN and the authorities of Trinidad and Tobago to make this project a success for all parties involved," said Clarence Ray, Jr., president of Duke/Fluor Daniel, speaking on behalf of Duke/Fluor Daniel International Services.

York Research Corporation (NASDAQ/NMS:YORK) develops, constructs and operates cogeneration and renewable energy projects, and through North American Energy Conservation Inc., a subsidiary, markets natural gas in the northeastern United States and Canada.

York's other projects include the 286-megawatt Brooklyn Navy Yard cogeneration facility, the 38-megawatt Warbasse cogeneration facility and the 36-megawatt Big Spring Windpower project, scheduled for commercial operation in February 1999.

Duke/Fluor Daniel International Services is an affiliate of Duke/Fluor Daniel, which was formed in 1989 by Duke Energy Corporation and Fluor Daniel. It provides comprehensive engineering, procurement, construction and plant operating services for fossil-fueled electric power generation facilities worldwide. Visit Duke/Fluor Daniel on the Internet at "www.d-fd.com".

Duke Energy Corporation (NYSE:DUK) is a global energy company with more than $24 billion in assets. Duke Energy companies develop, build, own and operate energy facilities, and provide engineering, management, operating, maintenance and environmental services.

Fluor Daniel, the principal subsidiary of Fluor Corporation (NYSE:FLR), is a leading engineering, construction, maintenance and diversified services company, with more than 50 offices worldwide.