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Nova Scotia Power Inc. Approves Preferred Share Quarterly Dividends – October 6, 2006

HALIFAX, Nova Scotia, October 6, 2006, (TSX - EMA):
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, 2006, payable on and after January 1, 2007 to Series C preferred shareholders of record December 18, 2006; and a quarterly dividend of $0.36875 per Nova Scotia Power Incorporated Series D First Preferred Share for the quarter ending December 31, 2006 payable on and after January 15, 2007 to Series D preferred shareholders of record December 29, 2006.

Nova Scotia Power Inc. is a wholly-owned subsidiary of Emera (TSX-EMA), a diversified regional energy company. Nova Scotia Power provides more than 97% of electric generation, transmission, and distribution to more than 460,000 customers across Nova Scotia. NSPI is committed to supporting Nova Scotian communities by providing save, reliable power. Nova Scotia Power Inc. preferred shares are traded on the Toronto Stock Exchange under the symbols NSI.PR.C and NSI.PR.D.