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Nova Scotia Power Issues $100 Million In New Medium Term Notes

HALIFAX, Nova Scotia, September 30, 2003 (TSX:EMA): Yesterday, Nova Scotia Power completed the issue of $100 million new Series T Medium Term notes. The Series T notes bear interest at the rate of 5.75% and yield 5.771% per annum until October 1, 2013.

NSPI's agency group for this issue under its Medium Term Note Program is led by CIBC World Markets Inc., RBC Dominion Securities Inc. and includes Scotia Capital Inc., BMO Nesbitt Burns Inc., and TD Securities Inc.

About Nova Scotia Power Inc.

Nova Scotia Power Inc. is a wholly-owned subsidiary of Emera Inc. (EMA-TSX), a diversified energy and services company. Nova Scotia Power provides more than 97% of electric generation, transmission, and distribution to more than 450,000 customers across Nova Scotia. NSPI is committed to supporting Nova Scotian communities by being a least-cost provider of safe, reliable power. Visit NSPI on the web at www.nspower.ca.