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Emera Names Ron Smith as Chief Financial Officer

HALIFAX, Nova Scotia, October 11, 2000, (EMA-TSE): David Mann, Chief Executive Officer of Emera Inc., today introduced Ron Smith, FCA, as Emera’s Senior Vice-President and Chief Financial Officer.

“We are excited to have Ron join the Emera team,” said Mr. Mann. “In addition to his broad financial and capital markets expertise, he brings an expert knowledge of regulated utility environments, and invaluable experience in leading organizations through periods of growth and change.”

Most recently, Mr. Smith was Chief Financial Officer, Telecommunications, for Aliant Inc. Prior to that, he worked for 12 years as CFO of Maritime Telegraph & Telephone Company Limited (MTT), a predecessor to Aliant. In addition to having full responsibility for all financial functions, he played a leadership role in the merger of the Atlantic Canadian telephone companies, and in MTT’s successful evolution to a competitive business environment following deregulation of the telecommunications industry.

“Ron’s strategic insight will be of great benefit to Emera as we continue to build our energy business in eastern Canada and the northeast U.S.”, said Mr. Mann.

Mr. Smith is a Director of Atlantic Blue Cross Care and Salter Street Films Limited. He has a long history of community involvement and currently serves on several non-profit Boards and Committees.

Corporate Profile

Emera Inc. (EMA-TSE) is a diversified energy and services company, with 440,000 customers and $2.9 billion in assets. Its wholly-owned operating subsidiary, Nova Scotia Power Inc., is a regulated electric utility that supplies over 95% of the electric generation, transmission and distribution in Nova Scotia. Emera also delivers bunker oil, diesel fuel and light fuel oil through its unregulated subsidiaries, and has a 12.5 per cent interest in the Maritimes & Northeast Pipeline, which delivers Sable Island natural gas to markets in Maritime Canada and the northeastern United States. On June 30, 2000, Emera announced it will acquire all of the common shares of Bangor Hydro-Electric Company (NYSE:BGR), a regulated electric transmission and distribution business operating in Maine.