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Nova Scotia Power Inc. Approves Preferred Share Quarterly Dividends – October 7, 2005

Halifax, NS October 7, 2005 (TSX: NSI.PR.C, NSI.PR.D): The Board of Directors of Nova Scotia Power Inc. approved a quarterly dividend of $0.30625 per Nova Scotia Power Incorporated Series C First Preferred Share for the quarter ending December 31, 2005, payable on and after January 1, 2006 to Series C preferred shareholders of record December 19, 2005; and a quarterly dividend of $0.36875 per Nova Scotia Power Incorporated Series D First Preferred Share for the quarter ending December 31, 2005 payable on and after January 16, 2006 to Series D preferred shareholders of record December 30, 2005.

About Nova Scotia Power Inc.

Nova Scotia Power Inc. is a wholly-owned subsidiary of Emera Inc. (EMA-TSX). It is a regulated company with more than 450,000 customers across Nova Scotia. Its system is province wide and provides over 95% of the generation, transmission, and distribution of electric power throughout Nova Scotia. Nova Scotia Power Inc. preferred shares are traded on the Toronto Stock Exchange under the symbols NSI.PR.C and NSI.PR.D.