Media Contact:
Ben Hughes, College of Engineering, 919/515-7458
Jennifer Weston, Engineering Communications, 919/515-3848

May 5, 2006

Progress Energy Supports College of Engineering With $1.2 Million Gift

FOR IMMEDIATE RELEASE

The College of Engineering at North Carolina State University has received $1.2 million from Progress Energy to support initiatives within the college. The gift was announced at the
Engineering Building II dedication ceremony on April 28.

“At NC State, we take great pride in building relationships and partnerships across a broad spectrum of North Carolinians, including the business community,” Chancellor James L.
Oblinger said. “Progress Energy’s continuing support of NC State reflects a shared commitment
of support for the state’s economic development and the value of higher education. We appreciate Progress Energy’s partnership and confidence in NC State.”

Part of Achieve! The Campaign for NC State, the gift is the largest given by Progress Energy to the college and will support three endowments. Two of the endowments will be dedicated to
professorships, a top priority of the Achieve! campaign. Progress Energy is a Fortune 250
diversified energy company with more than 24,500 megawatts of generation capacity and
approximately 3 million customers in the Carolinas and Florida.

“Progress Energy is proud to support North Carolina State University's College of Engineering with this gift,” said Bob McGehee, chairman and CEO of Progress Energy. “NC State is educating the employees of tomorrow who will develop new technologies and environmental innovations to power the future. It is important we make investments today that will educate and grow the future workforce.”

“The College of Engineering is honored to receive such a generous gift from Progress Energy,” said Dr. Nino A. Masnari, dean of the College of Engineering. “We are grateful for their many decades of support and their continued interest in engineering education at NC State. This gift will benefit the university and its students for years to come.”

In recognition of the support Progress Energy and its employees have provided to NC State, the bridge, terrace and conference rooms in Engineering Building II will bear Progress Energy’s
name. Located on the third floor of the new Engineering Building II, the Progress Energy area
includes two large conference rooms, a brick terrace and a bridge that connects to two wings of
the building.

“Progress Energy is a long-standing and valued corporate partner of the College of Engineering and NC State with a strong recruitment relationship and a focus on the areas of research and K-12 engineering outreach,” said Ben Hughes, executive director of the NC State Engineering Foundation Inc.

- weston -