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Nova Scotia Power Names Ralph Tedesco as Chief Operating Officer

HALIFAX, Nova Scotia, January 9, 2004: The Board of Directors of Nova Scotia Power announced today the appointment of Ralph R. Tedesco as Chief Operating Officer of the company. Mr. Tedesco brings 25 years of experience in the electricity industry, including utility operations, customer service, employee relations and finance and capital markets. Most recently, he was the President and Chief Operating Officer of New York State Electric & Gas Inc., an energy delivery company serving one million electricity and natural gas customers across New York State, from its headquarters in Ithaca, New York. Nova Scotia Power is a wholly-owned subsidiary of Emera Inc. (EMA-TSX).

"We are fortunate to have someone of Ralph's calibre join our team," said David Mann, President and Chief Executive Officer of Nova Scotia Power and Emera Inc. "His experience will help us advance Nova Scotia Power's strategy of providing low cost, reliable electricity and outstanding customer service to Nova Scotians. He has demonstrated excellence in running a regulated utility and in dealing with the capital markets. These are important skills in an investor-owned utility like Nova Scotia Power."

Mr. Tedesco will report to Chris Huskilson, Chief Operating Officer of Emera Inc.

"I am excited to be taking on my new role at Nova Scotia Power," said Ralph Tedesco. " The electricity industry in Northeast North America is familiar territory for me, and Nova Scotia Power and Emera play an important role in the region. We have a strong management team, and I am pleased to have the opportunity to bring my experience to the mix."

Mr. Tedesco holds a Bachelor of Science degree in atmosphere science, cum laude, and a Master of Science degree in atmospheric physics, both from the State University of New York at Albany. He was Chairman of the Northeast Gas Association, and has served on the boards of the Alliance for Manufacturing and Technology and the University of Michigan's Business School-Industry Advisory Committee. He has also been active in the community, initiating a Community Watch Program and overseeing NYSEG's involvement in numerous cultural and environmental programs and events.

About Nova Scotia Power

Nova Scotia Power Inc. is a wholly-owned subsidiary of Emera Inc. (EMA-TSX), a diversified regional energy 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 low-cost provider of safe, reliable power.