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Emera Names Randy Henderson as Chief Financial Officer

HALIFAX, Nova Scotia, July 9, 2004, (TSX:EMA): David Mann, Chief Executive Officer of Emera Inc., today introduced Randy Henderson, CA, as Emera's Senior Vice-President and Chief Financial Officer. Mr. Henderson will replace Ron Smith, who is retiring.

The appointment is effective July 26, 2004. Mr. Smith will provide counsel through the transition.
"We are pleased to have Randy join the Emera team," said Mr. Mann. "He is a great fit for Emera, with his experience in a regulated electric utility business similar in size to ours." Most recently, Mr. Henderson was Executive Vice-President and Chief Financial Officer for ENMAX Corporation, an energy distribution, supply and service company, that provides electricity and natural gas to 422,000 residential and business customers across Alberta. His responsibilities included Financial Services, Financial Reporting and Analysis, Treasury, Strategic Planning, Regulatory Affairs and Information Technology.

Prior to joining ENMAX in February 2001, Mr. Henderson held several senior financial positions in the electric industry and the manufacturing sector, including Zi Corporation, Engineered Air and Fletcher Challenge Canada Limited. He also served in various senior financial roles for TransAlta Corporation for 10 years. Mr. Henderson has been a Chartered Accountant since 1979, working in public accounting in Canada and New Zealand.

"I look forward to having Randy on our team", said Chris Huskilson, Emera's Chief Operating Officer, who will be succeeding Mr. Mann in the fall.

"Emera is very fortunate to have had the strong and skilled leadership of Ron Smith over the last three years," said Mr. Mann. "He has made a great contribution to our company and we wish him continued success as he transitions to a new stage in his life."

About Emera Inc.

Emera Inc. (EMA-TSX) is an energy and services company with 570,000 customers and $4.0 billion in assets. The core business of Emera is electricity and the company has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company. Nova Scotia Power supplies over 95% of the electric generation, transmission and distribution in Nova Scotia. Bangor Hydro provides electricity transmission and distribution service to 110,000 customers in eastern Maine. It is a member of the New England Power Pool, and is interconnected with the other New England utilities to the south and with New Brunswick Power to the north. In addition Emera owns a 12.9% interest in the Maritimes & Northeast Pipeline, which delivers Sable natural gas to markets in Maritime Canada and the northeastern United States; Emera Energy Services which manages energy assets on behalf of third parties and provides related services; and Emera Fuels, which distributes home heating oil and related products to customers in the Maritime provinces.