<PAGE> 1
Rule 424(b)(3)
File Nos. 33-60108 and 33-59369
PRICING SUPPLEMENT NO. 2 TO REGISTRATION STATEMENT NO. 33-59369
AND PRICING SUPPLEMENT NO. 5 TO REGISTRATION STATEMENT NO. 33-60108
Dated October 4, 1996
(Prospectus dated August 9, 1995, as supplemented
by the Prospectus Supplement dated September 20, 1995)
$150,000,000
PIEDMONT NATURAL GAS COMPANY, INC.
Medium-Term Notes, Series B
Due Nine Months or More from Date of Issue
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<S> <C> <C>
Principal Amount: $40,000,000 / / Floating Rate Notes /X/ Book Entry Notes
Issue Price: 100% /X/ Fixed Rate Notes / / Certificated Notes
Original Issue Date: October 9, 1996 Maturity Date: October 9, 2026
Original Issue Discount Notes: / / Yes Total Amount of OID:
/X/ No
Yield to Maturity
Initial Accrual Period:
Interest Payment Dates: January 1 and Record Dates: December 16 and
July 1 of each year and at maturity June 15 next preceding the
Interest Payment Dates
</TABLE>
<TABLE>
<S> <C>
/X/ The Notes cannot be redeemed prior to maturity. /X/ The Notes cannot be repaid prior to maturity
/ / The Notes may be redeemed prior to maturity. / / The Notes may be repaid prior to maturity at the
option of the holders thereof.
</TABLE>
<TABLE>
<CAPTION>
Optional Optional
Redemption Redemption Repayment Repayment
Date(s) Percentage(s) Date(s) Percentage(s)
---------- ------------- --------- -------------
<S> <C> <C> <C>
</TABLE>
Applicable Only to Fixed Rate Notes:
Interest Rate: 7.50%
Applicable Only to Floating Rate Notes:
Interest Rate Basis: Maximum Interest Rate:
/ / Commercial Paper Rate Minimum Interest Rate:
/ / CD Rate Spread (plus or minus):
/ / Prime Rate Spread Multiplier:
/ / Federal Funds Effective Rate Interest Reset Date(s):
/ / Treasury Rate Interest Reset Month(s):
/ / LIBOR Interest Reset Period:
Initial Interest Rate: Interest Payment Month(s):
Index Maturity: Interest Payment Period:
Calculation Date(s): Calculation Agent:
