Exhibit 99.2

CINERGY CORP.
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME
For the Periods Ended June 30, 2003
(unaudited)
(in thousands, except per share amounts)

	Quarter Ended						Year To Date
	2003			2002			2003			2002

Operating Revenues
Electric	$	769,258		$	804,463		$	1,592,316		$	1,565,848
Gas	114,932			80,208			513,845			270,272
Other	49,733			22,624			95,719			39,561
	933,923			907,295			2,201,880			1,875,681

Operating Expenses
Fuel used in electric production	219,157			205,371			459,436			409,493
Gas purchased	53,319			29,562			289,314			139,442
Purchased and exchanged power	21,313			36,315			50,899			49,999
Other operation	263,883			280,380			531,436			484,525
Maintenance	66,123			57,926			123,732			114,393
Depreciation	105,228			97,979			208,863			194,295
Taxes other than income taxes	66,958			64,247			144,707			136,669
	795,981			771,780			1,808,387			1,528,816

Operating Income	137,942			135,515			393,493			346,865

Other Income and (Expenses) - Net
Allowance for equity funds used during construction	2,612			4,317			6,191			7,167
Equity in earnings of unconsolidated subsidiaries	6,104			(581		)	6,696			4,108
Other - net	5,155			(7,380		)	9,191			(11,615		)
	13,871			(3,644		)	22,078			(340		)

Interest and Other Charges
Interest on long-term debt	67,222			58,526			130,591			115,492
Other interest	164			6,060			2,079			12,852
Allowance for borrowed funds used during construction	(6,992		)	(6,155		)	(13,122		)	(10,740		)
	60,394			58,431			119,548			117,604

Preferred Trust
Preferred dividend requirement of subsidiary trust	5,970			5,968			11,940			11,881

Income Before Taxes	85,449			67,472			284,083			217,040

Income Taxes	8,983			21,298			66,966			75,842
Preferred dividend requirements of subsidiaries	858			858			1,716			1,716

Income Before Discontinued Operations and Cumulative Effect of a Change in Accounting Principles	$	75,608		$	45,316		$	215,401		$	139,482
Discontinued Operations, net of tax	9,045			(333		)	8,875			1,229
Cumulative Effect of a Change in Accounting Principles, net of tax	—			—			26,462			(10,899		)
Net Income	$	84,653		$	44,983		$	250,738		$	129,812
Other comprehensive income, net of tax	4,590			14,401			5,377			12,142
Comprehensive Income	$	89,243		$	59,384		$	256,115		$	141,954

Average Common Shares Outstanding	176,645			167,330			175,025			165,821

Earnings Per Common Share
Income Before Discontinued Operations and Cumulative Effect of a Change in Accounting Principles	$	0.42		$	0.27		$	1.23		$	0.84
Discontinued Operations, net of tax	0.05			—			0.05			0.01
Cumulative Effect of a Change in Accounting Principles, net of tax	—			—			0.15			(0.06		)
Net Income	$	0.47		$	0.27		$	1.43		$	0.79

Earnings Per Common Share - Assuming Dilution
Income Before Discontinued Operations and Cumulative Effect of a Change in Accounting Principles	$	0.42		$	0.26		$	1.22		$	0.83
Discontinued Operations, net of tax	0.05			—			0.05			0.01
Cumulative Effect of a Change in Accounting Principles, net of tax	—			—			0.15			(0.06		)
Net Income	$	0.47		$	0.26		$	1.42		$	0.78

Dividends Declared Per Common Share	$	0.46		$	0.45		$	0.92		$	0.90

Note: Prior year’s data has been reclassified to conform with current year’s presentation.