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NSPI Approves Series D Preferred Share Dividend

Halifax, NS: The Board of Directors of Nova Scotia Power Inc. today approved a dividend of $0.30712 per Nova Scotia Power Incorporated Series D First Preferred Share for the period ending December 31, 2000 payable on and after January 15, 2001 to Series D preferred shareholders of record December 29, 2000.

Nova Scotia Power Inc. is a regulated company and is the principal supplier of electricity in Nova Scotia with 440,000 residential, commercial and industrial customers. Its system is province wide and its operations include approximately 97% of the generation, 99% of the transmission and 95% of the distribution of electric power throughout Nova Scotia. The Company had 1999 revenues of $799 million. Nova Scotia Power Inc. preferred shares are traded on The Toronto Stock Exchange under the symbols NSI.UN, NSI.PR.C, and NSI.PR.D. Nova Scotia Power Inc. is a subsidiary of Emera Inc. whose common shares are traded on The Toronto Stock Exchange under the symbol EMA.