THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Piedmont Natural Gas Company, Inc. (PNY)

1/26/2006 Proxy Information

During 2005, John W. Harris served as President of Lincoln Harris LLC. In 2003, the Company executed an agreement with Lincoln Harris to act as its agent to sell the existing Corporate office headquarters building and to assist in the move to another location. The agreement was negotiated at armÕs length in the ordinary course of business and was approved by the Board. In December 2003, the Board authorized Company management to proceed with selling the CompanyÕs Corporate office building at 1915 Rexford Road in Charlotte, North Carolina, and relocating to a new Corporate office building in Charlotte, North Carolina. The Company, acting through Lincoln Harris as its agent, received competitive bids for the sale of the office building located at Rexford Road and sold the building during 2005. Lincoln Harris received a real estate commission of $226,000 in conjunction with this sale. Mr. Harris personally received $70,132 of this real estate commission.

In 2004, the Company entered into an agreement with Crescent Resources LLC to lease office space in a newly constructed building. The selection of the new office space was based on a request for proposal seeking competitive bids and represented the most competitive bid received. Lincoln Harris is the leasing agent for this new building.

As a result of the Company lease, Crescent Resources paid Lincoln Harris a leasing commission fee and Mr. Harris, as an officer/owner of Lincoln Harris, personally received $206,347.

The Board has determined that Mr. Harris continues to remain an independent director after consideration of all relevant facts and circumstances and applying the New York Stock Exchange Listed Company Standards and the categorical standards of independence adopted by the Board. In particular, the presumption of independence applies because Mr. Harris did not receive direct or indirect payments from the Company in any of the preceding three fiscal years in an amount greater than $1,000,000 or 2% of Lincoln HarrisÕ consolidated gross revenues.

Mr. Harris has and will continue to recuse himself from all discussion, consideration, decision and board action directly or indirectly related to any services and/or representation by Lincoln Harris relating to the Company.

Prior to 2005, Jerry W. Amos was a partner in the law firm of Nelson Mullins Riley & Scarborough, L.L.P. that provided legal services to the Company. Transactions involving the law firm and the Company were made in the ordinary course of business and, in the opinion of management, were on substantially the same terms to the Company as those prevailing at the time from unrelated parties for comparable services. Effective December 31, 2004, Mr. Amos retired from the law firm. Mr. Amos has continued to provide legal and consulting services to the Company. He received $104,170 in direct compensation during fiscal year 2005 and is deemed to not qualify as an independent director.

1/24/2005 Proxy Information

During a portion of 2004, Malcolm E. Everett III served as Senior Executive Vice President of Wachovia Corporation. The Company has certain banking relationships with Wachovia. Mr. Everett, as Head of Corporate and Community Affairs for Wachovia, was not personally involved with any of these banking relationships, his compensation was in no way dependent upon those banking relationships and these transactions involving Wachovia and the Company were made in the ordinary course of business and were on substantially the same terms to the Company as those prevailing at the time from unrelated parties for comparable services. Mr. Everett retired from Wachovia Corporation effective February 15, 2004.

During 2004, John W. Harris served as President of Lincoln Harris LLC. The Company executed an agreement with Lincoln Harris LLC to act as its agent to sell the existing Corporate office headquarters and to assist in the move to another location. The agreement was negotiated at armÕs length in the ordinary course of business and was approved by the Board on May 30, 2003. At the December 12, 2003 meeting, the Board authorized Company management to proceed with selling the CompanyÕs Corporate office building at 1915 Rexford Road in Charlotte, North Carolina, and relocating to a new Corporate office building in Charlotte, North Carolina. The Company, acting through Lincoln Harris as its agent, is receiving competitive bids for the sale of the office building located at Rexford Road. The Company has executed a lease arrangement with Crescent Resources LLC to occupy space available in a new office building beginning November 1, 2005. Lincoln Harris is a partner with Crescent Resources in the multi-use development where the new office space is located. The selection of the new office space occurred after a competitive bid process. Mr. Harris recuses himself from all discussion, consideration, decision and board action directly or indirectly relating to any services and/or representation by Lincoln Harris relating to the sale of the existing building and the relocation to the new space.

During 2004, Jerry W. Amos was a partner in the law firm of Nelson Mullins Riley & Scarborough, L.L.P that provided legal services to the Company. Transactions involving the law firm and the Company were made in the ordinary course of business and, in the opinion of management, were on substantially the same terms to the Company as those prevailing at the time from unrelated parties for comparable services. Effective December 31, 2004, Mr. Amos retired from the law firm. Mr. Amos will continue to provide legal services to the Company as a sole practitioner.

1/3/2005 8K Information

Jerry W. Amos, a director of the Company, has provided legal and other services to the Company for many years. Compensation for those services have been reported in accordance with applicable rules. Effective December 31, 2004, Mr. Amos retired from his law firm; however, he has agreed to continue to provide legal and other services to the Company. Mr. Amos will receive a retainer of $10,417 a month. Should the value of and time expended by Mr. Amos exceed the amount of the retainer, Mr. Amos will be compensated at the hourly rates paid for such services prior to Mr. Amos' retirement from his law firm. Mr. Amos will be reimbursed for out-of-pocket expenses incurred in connection with his performance of these services. These arrangements may be terminated by the Company or Mr. Amos at any time upon 30 days notice. This agreement is effective January 3, 2005.

1/15/2004 Proxy Information

Ware F. Schiefer, who formerly served as a member of the Board of Directors and Chief Executive Officer of the Company, has an agreement with the Company to provide consulting advice and assistance to the Chief Executive Officer on a variety of matters. This agreement was effective March 1, 2003, and shall end on February 28, 2006. For such services, Mr. Schiefer receives annual compensation of $200,000, financial planning and tax preparation services, reimbursement of reasonable travel and other out-of-pocket expenses incurred in connection with his services, and through December 31, 2003, office space and secretarial services at the Company's offices.

During 2003, Malcolm E. Everett III served as Senior Executive Vice President of Wachovia Corporation. The Company has certain banking relationships with Wachovia. Mr. Everett as Head of Corporate and Community Affairs for Wachovia is not personally involved with any of these banking relationships, his compensation is in no way dependent upon those banking relationships and these transactions involving Wachovia and the Company were made in the ordinary course of business and were on substantially the same terms to the Company as those prevailing at the time from unrelated parties for comparable services. Mr. Everett is retiring from Wachovia Corporation effective February 15, 2004.

During 2003, John W. Harris served as President of Lincoln Harris LLC. The Company entered into an agreement with Lincoln Harris LLC to act as its agent to evaluate options to update and refurbish the existing corporate office building, or sell the existing office building and relocate to a new location. The agreement was negotiated at arm's length in the ordinary course of business and was approved by the Board on May 30, 2003. At the December 12, 2003 meeting, the Board authorized Company management to proceed with selling the Company's Corporate office building at 1915 Rexford Road in Charlotte, North Carolina, and relocating to a new Corporate office building in Charlotte, North Carolina. The Company, acting through Lincoln Harris as its agent, now plans to obtain competitive bids for the sale of the Company's Corporate office building as well as for relocating to a new Corporate office building.

During 2003, Jerry W. Amos was a partner in the law firm of Nelson Mullins Riley & Scarborough, L.L.P that provided legal services to the Company. Transactions involving the law firm and the Company were made in the ordinary course of business and, in the opinion of management, were on substantially the same terms to the Company as those prevailing at the time from unrelated parties for comparable services.

John H. Maxheim, who formerly served as Chief Executive Officer of the Company, has an agreement with the Company to provide advice and assistance to the Chief Executive Officer and the Board of Directors on a variety of matters. This agreement was effective March 1, 2000, and shall end on February 28, 2003. For such services, Mr. Maxheim receives annual compensation of $195,000, reimbursement of reasonable travel and other out-of-pocket expenses incurred in connection with his services, office space and secretarial services at the CompanyÕs offices and financial planning and tax preparation services.