Exhibit 99.2

                                                                        PRESS
                                                                      RELEASE
Date:       February 28, 2003
Contact:    Stephen D. Conner   or   Headen Thomas
Telephone:  (O) 704/731-4205         (O) 704/731-6438


                         PIEDMONT NATURAL GAS INCREASES
                   DIVIDEND FOR TWENTY-FIFTH CONSECUTIVE YEAR

CHARLOTTE, NC - At its regular quarterly meeting held following the Company's
Annual Meeting of Shareholders today, the Board of Directors of Piedmont Natural
Gas Company declared a quarterly dividend on Common Stock of 41.5 cents per
share, a 4% increase over the 40 cents paid the prior quarter. This marks the
twenty-fifth consecutive year that the Company has declared a dividend increase.
The dividend is payable April 15, 2003 to holders of record at the close of
business on March 25, 2003.

Piedmont Natural Gas is an energy services company primarily engaged in the
distribution of natural gas to 740,000 residential, commercial and industrial
customers in North Carolina, South Carolina and Tennessee. The Charlotte-based
company is the second-largest natural gas utility in the Southeast. Piedmont is
also invested in a number of non-utility, energy-related businesses including
companies involved in unregulated retail natural gas and propane marketing, and
interstate and intrastate natural gas storage and transportation. More
information about Piedmont Natural Gas is available on the Internet at
www.piedmontng.com .

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