The Energy Neighbor Fund assists low-income individuals and families cover home energy bills, regardless of their heating source. Since its inception in 1982 (then called Project Share), the Energy Neighbor Fund has provided more than $21 million to low-income families in North Carolina and South Carolina.

"The Energy Neighbor Fund is truly a lifesaver for families in crisis, ensuring they don't have to suffer through cold winter nights without heat," said Lloyd Yates, president and CEO of Progress Energy Carolinas. "The Progress Energy Foundation covers all administrative costs for the Energy Neighbor Fund, so every penny you give goes directly to help your neighbors in need. The foundation also matches all contributions, dollar for dollar, so your gift has twice the impact. There is simply no better way to provide direct, tangible help to folks right here in our local communities."

The Progress Energy Foundation provides up to $1 million in matching funds for contributions to the Energy Neighbor Fund from employees, customers, churches and community organizations.

The N.C. Division of Social Services and the S.C. Division of Economic Opportunity allocate the Energy Neighbor Fund donations to social service agencies within the counties served by Progress Energy. Donations are tax deductible to the fullest extent allowed by law to those who itemize their taxes.

Progress Energy customers in the Carolinas contributed more than $213,000 to the Energy Neighbor Fund last winter. Employees of Progress Energy donated more than $237,000. With matching funds from the Progress Energy Foundation, a total of more than $900,000 was raised last winter to help families in need in the Carolinas.

To donate to the Energy Neighbor Fund, visit www.progress-energy.com/ENF or send a check made out to "The Energy Neighbor Fund" to Central Remittance, Progress Energy Carolinas, P.O. Box 2041, Raleigh, N.C. 27602.

Progress Energy (NYSE: PGN), headquartered in Raleigh, N.C., is a Fortune 500 energy company with more than 22,000 megawatts of generation capacity and $9 billion in annual revenues. Progress Energy includes two major electric utilities that serve approximately 3.1 million customers in the Carolinas and Florida. The company has earned the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence, and was the first utility to receive the prestigious J.D. Power and Associates Founder's Award for customer service. The company is pursuing a balanced strategy for a secure energy future, which includes aggressive energy-efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. Progress Energy celebrated a century of service in 2008. Visit the company's Web site at www.progress-energy.com.

SOURCE Progress Energy

http://www.progress-energy.com/ENF

Fitch's primary rating concerns include uncertainty over the outcome of the pending PEF base rate case in light of the politicized state regulatory environment and the ability to recover capital spending and operating costs at both PEF and Progress Energy Carolinas under still challenging economic conditions. Another concern is that PGN parent debt leverage remains significant at 34% of consolidated long-term debt, including the temporary elevation due to pre-funding of the maturities of the $100 million floating-rate notes due 2010 and a portion of the $700 million notes due 2011. The Florida Public Service Commission's (FPSC) decision on the PEF base rates will be an important driver of future cash flows and ratings at PEF. The decisions on revenue requirement and rate design are expected in January 2010.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

SOURCE: Fitch Ratings

Fitch Ratings 
Sharon Bonelli, +1-212-908-0581 
Ellen Lapson, CFA, +1-212-908-0504 (New York) 
Cindy Stoller, +1-212-908-0526 (New York) 
cindy.stoller@fitchratings.com

Progress Energy, which operates the plant, requested the meeting to give the NRC a status report on the company's efforts to evaluate the possible causes and extent of the gap, as well as its future activities.

The gap was discovered after the plant had been shut down for a planned refueling outage, which included replacing the steam generators inside containment. Workers found the half-inch separation in the concrete about 9 inches from the outer surface of the 42-inch thick reinforced concrete containment wall. The gap is located near the area where a hole was cut in the concrete to remove the very large steam generators to the containment building.

The NRC launched a Special Inspection Team in early October to review the situation, and the NRC will soon announce a meeting in the Crystal River area, tentatively scheduled for early December, to discuss the agency's preliminary inspection findings. The team will also issue a written report, available to the public, several weeks after the completion of the inspection. In addition, the NRC will review any repair plans and subsequent repairs before the plant resumes operation.

The meeting between the NRC and Progress Energy on Nov. 20 will be open to public observation, and NRC staff will be available to answer questions before the conclusion of the meeting. Persons who cannot attend the meeting but are interested in participating by telephone should contact either Farideh Saba at 301-415-1447 or Farideh.Saba@nrc.gov or Trace Orf at 301-415-2788 or Tacy.Orf@nrc.gov.

With an enterprise value of approximately $3 billion, Progress is a Calgary based, mid-size energy company primarily focused on natural gas exploration, development and production in northwest Alberta and northeast British Columbia. Common shares of Progress are listed on the Toronto Stock Exchange under the symbol PRQ.

Advisory Regarding Forward-Looking Statements

Forward Looking Statements - Certain information regarding Progress set forth in this document, including management's assessment of Progress's future plans and operations, contains forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond Progress's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, the lack of availability of qualified personnel or management, stock market volatility and ability to access sufficient capital from internal and external sources. Progress's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that Progress will derive therefrom.

%SEDAR: 00020978E

SOURCE: Progress Energy Resources Corp.

Greg Kist, Vice President, Investor Relations and Marketing, Progress Energy
Resources Corp., at (403) 539-1809 (gkist@progressenergy.com)