Piedmont Natural Gas Company, Inc.

Piedmont Natural Gas Company, Inc. (Piedmont) is an energy services company primarily engaged in the distribution of natural gas to 1,016,000 residential, commercial and industrial customers in portions of North Carolina, South Carolina and Tennessee, including 62,000 customers served by municipalities who are the Company's wholesale customers. Piedmont is invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, interstate natural gas storage and intrastate natural gas transportation. The Company operates in two business segments: regulated utility and non-utility activities. Operations of both segments are conducted within the United States of America. During the fiscal year ended October 31, 2006 (fiscal 2006), 44% of its operating revenues were from residential customers; 26% from commercial customers; 11% from industrial and power generation customers; 18% from secondary market activity, and 1% from various other sources.