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Emera Approves Quarterly Dividend

Halifax, NS: The Board of Directors of Emera Inc. today approved a quarterly dividend of $0.2125 per common share. The dividend is payable on and after February 15, 2001 to common shareholders of record at the close of business on February 1, 2001.

Emera Inc. is a diversified energy and services company. Its principal subsidiary is Nova Scotia Power Inc., a regulated utility that is the primary electricity supplier in Nova Scotia. The Company provides over 95 percent of the generation, transmission and distribution of electricity in the province to 440,000 residential, commercial and industrial customers.
Emera's energy product line also includes heavy and light fuel oil, diesel and industrial lubricants. Emera owns a 12.5% interest in the Maritimes & Northeast Pipeline, which transports Sable Island natural gas to markets in Maritime Canada and the northeastern United States. Emera is in the process of acquiring Bangor Hydro-Electric Company (NYSE: BGR), a regulated electric transmission and distribution business serving 110,000 customers in the State of Maine.