What: Piedmont Natural Gas First Quarter Earnings Conference Call

When: Monday, March 7, 2005, at 2:30 p. The aim of the Spiritual Capital Research
Program is to catalyze the development of this interdisciplinary research
field, which may become a vital new field in the social sciences.
Since then, social scientists have vigorously debated the concept of
social capital, but spiritual capital - a sub-set of the field - remains
relatively understudied. Full grant applications will then be invited for a total of $1.

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D., Director for Research and Programs in the Human Sciences at Metanexus. http://www.

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Eastern time. PHILADELPHIA, Three distinguished scholars have
each received grants of $500,000 to lead teams of researchers in order to
create a new interdisciplinary field of "Spiritual Capital" research. Just 100 years ago Max Weber
published his provocative work The Protestant Ethic and the Spirit of
Capitalism.net or 215-789-2200. http: //www.

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One section will analyze the impact of 150 years of
missionary activity; a second section will analyze the economic consequences
of Pentecostal conversions in Brazil; a third section will focus on the
influence of revivalist Islam and Christianity in rural Malawi.

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Piedmont Natural Gas Invites You to Join Its Annual Meeting of Shareholders and First Quarter Conference Call on the Web

About Piedmont Natural Gas
Piedmont Natural Gas (NYSE: PNY) is an energy services company primarily
engaged in the distribution of natural gas to 960,000 residential, commercial
and industrial utility customers in North Carolina, South Carolina and
Tennessee, including 60,000 customers served by municipalities who are
wholesale customers.piedmontng.

Three Grants of $500 000 Each Awarded for Research on 'Spiritual Capital' by Metanexus Institute

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piedmontng.org

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What: Piedmont Natural Gas Annual Meeting of Shareholders

When: Friday, March 4, 2005 , at 9:30 a.piedmontng.
The Metanexus Institute is interested in supporting high-level, impartial
scholarship on the contribution of religion - both for good and for ill - to
economic and social developments.

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piedmontng.com /

How: Live over the Internet -- Simply log on to the web at the above
address and go to Investor Relations, presentations

If you are unable to participate during either of the live webcasts,
replay of the webcasts will be archived on the
Website http://www. Its subsidiaries are invested in joint venture, energy-
related businesses , including unregulated retail natural gas marketing,
interstate natural gas storage, intrastate natural gas transportation and
regulated natural gas distribution.

Each project is 30 months in duration, beginning March 2005.

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Results will
be disseminated through scholarly and lay publications , conferences, speaking
engagements and websites. A membership
organization, Metanexus hosts an online magazine and discussion forum with
over 140,000 monthly page views and 7000 regular subscribers in 57 different
countries.

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C. Eastern Time. ET

Where: The Investor Relations area of the Piedmont Website at
http://www. The Spiritual Capital Research Program will fund high -
level research that could lead to new understandings of religion's role in
economic, social and political life. Only in recent years have leading scholars,
including Nobel laureate economists Gary Becker and Robert Fogel and political
scientists John DiIulio and Robert Putnam, called renewed attention to the
effects of spiritual and religious practices, beliefs and institutions on
economics , politics and societies.templeton.

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The
grants are awarded through a program of the Metanexus Institute on Religion
and Science, supported by generous funding from the John Templeton Foundation .net

The mission of the John Templeton Foundation is to pursue new insights at
the boundary between theology and science through a rigorous, open-minded and
empirically focused methodology , drawing together talented representatives
from a wide spectrum of fields of expertise.

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Sargeant ,
Ph.

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Where: The Investor Relations area of the Piedmont Website at
http://www. It will also facilitate a broader
range of study by bringing together a network of scholars, to be
known as the Institute for Economic Research on Civilizations (IERC), to
promote comparative research and raise the level of discourse on the role of
various religions and forms of spiritual capital in the economic performance
of civilizations. Metanexus leads and
facilitates over 300 projects in 36 countries.

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Winners of the invitation-only competition for the three founding grants
in the Spiritual Capital Research Program were announced by Kimon H.

Robert Woodberry , Assistant Professor of Sociology at the University of
Texas at Austin: Project on Religion and Economic Change.5
million in research funds.

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This project seeks to evaluate the influence of various religions on
health, education and the economy by measuring religious distinctions and the
resulting impact on national, community and individual levels in societies
around the world.net/spiritual_capital
or contact project manager Christopher Stawski at
SpiritualCapital@metanexus.

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CHARLOTTE, N . Letters of intent are due no later than April
15, 2005. Projects include the Local
Societies Initiative, the Templeton Research Lectures, and topical
interdisciplinary research projects such as the Spiritual Transformation
Scientific Research Program, Spiritual Capital Research Program, Foundational
Questions in Physics and Cosmology, as well as studies of religion and health,
religion and human flourishing, and other endeavors.

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m.com .com/cgi-bin/prnh/20050324/PHTH031LOGO )
The term "spiritual capital" refers to the economic and social
consequences of religion and spirituality .
In The Wealth of Nations, Adam Smith raised key questions for the economic
analysis of religion and looked at the effects of competition among religions
and the dangers of government of religion .
For further information on the Spiritual Capital Research Program,
including submission guidelines for the new granting opportunities, or to
request a program brochure, visit http://www. Metanexus sponsors dialogue groups, lectures,
workshops, research, courses, grants, and publications.metanexus .

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You are invited to listen to the conference call that
will be broadcast live over the Internet on Monday, March 7, 2005, at 2:30
p. More information about Piedmont Natural
Gas is available on the Internet at http://www. While religion and spirituality
are rich with various sources of personal meaning, they also have profound
public significance. "It is no
longer unusual to consider that trust, behavioral norms and religion can
profoundly shape economic, political and social developments .

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m.
(Logo: http://www."
Principal investigators heading the award-winning teams and their projects
are:

Laurence Iannaccone, Koch Professor of Economics at George Mason
University: Creating an "Ecology" for the Study of Religion, Economics, and
Spiritual Capital.
This project includes the development of an international Consortium for
the Economic Study of Religion (CESR ), bringing visiting scholars together at
George Mason University for interdisciplinary and collaborative workshops,
classes, research projects and conferences, instituting an economics-as-
religion concentration for doctoral students, and creating a global network of
scholars and institutes.
Kuran's project will advance ongoing research on the role of Islam, and
especially Islamic law, in the economic performance of the Middle East from
its rise in the 7th century to the present.

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com /

How: Live over the Internet -- Simply log on to the web at the above
address and go to Investor Relations, presentations

Conference Call
The company expects to release its first quarter earnings before market
trading hours on Friday, March 4, 2005, followed by a conference call on
Monday, March 7, 2005.m.
"Now seems an ideal time to understand and assess the public effects of
spiritual and religious action because there seems to be a growing openness in
the social sciences towards non-material factors," says Sargeant.

Timur Kuran, Professor of Economics and Law and King Faisel Professor of
Islamic Thought and Culture at the University of Southern California: The Role
of Religion in the Economic Performance of Civilizations.
In addition to the three funded projects that are just beginning, the
Metanexus Institute has issued a new call for proposals for $150,000 research
grants for interdisciplinary studies on the economic and social consequences
of religion and spirituality.metanexus. Metanexus is
a leader in a growing network of individuals and groups exploring the dynamic
interface between cosmos, nature, and culture in communities and on campuses
throughout the world.

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, Piedmont Natural Gas (NYSE: PNY)
invites you to join its Annual Meeting of Shareholders that will be broadcast
live over the Internet on Friday , March 4, 2005 at 9:30 a.

The Metanexus Institute advances scientific research, education and
outreach on the constructive engagement of science and religion.

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com .newscom.