N  E  W  S  R  E  L  E  A  S  E Cinergy Corp. 139 East Fourth Street P.O. Box 960 Cincinnati, OH  45201-0960

News contact:	Steve Brash  513-287-2226 (w)  513-231-6895 (h)
	Angeline Protogere 317-838-1338 (w) 317-298-3090 (h)
Investor contact:	Steve Schrader  513-287-1083
Website:	www.cinergy.com

FOR IMMEDIATE RELEASE – July 24, 2003

CINERGY REPORTS CFTC DEVELOPMENTS

CINCINNATI – Cinergy Corp. (NYSE: CIN) announced today that it received a subpoena from the Commodity Futures Trading Commission (CFTC).  As has been previously reported by the press, the CFTC has served subpoenas on numerous other energy companies.  The CFTC request seeks information regarding the Company's trading activities, including price reporting to energy industry publications.  The CFTC seeks particular information concerning these matters for the period May 2000 through January 2001 as to one of its employees.  Based on a limited review of these matters, the Company has placed that employee on administrative leave.  Cinergy intends to fully cooperate with the CFTC in connection with its investigation.

This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions.  These forward-looking statements are identified by terms and phrases such as "anticipate", "believe", "intend", "estimate", "expect", "continue", "should", "could", "may", "plan", "project", "predict", "will", and similar expressions.  Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted.  Factors that could cause actual results to differ materially from those indicated in any forward-looking statement include, but are not limited to, unanticipated weather conditions; unscheduled generation outages; unusual maintenance or repairs; unanticipated changes in costs; environmental incidents, including costs of compliance with existing and future environmental requirements; electric transmission or gas pipeline system constraints; legislative and regulatory initiatives; additional competition in electric or gas markets and continued industry consolidation; financial or regulatory accounting principles; political, legal, and economic conditions and developments in the countries in which we have a presence; changing market conditions and other factors related to physical energy and financial trading activities; the performance of projects undertaken by our non-regulated businesses and the success of efforts to invest in and develop new opportunities; availability of, or cost of, capital; employee workforce factors; delays and other obstacles associated with mergers, acquisitions, and investments in joint ventures; and costs and effects of legal and administrative proceedings, settlements, investigations, and claims.  Please refer to the company's SEC filings for additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements.  The Company undertakes no obligation to update the information contained herein.

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