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Nova Scotia Power Inc. Approves Preferred Share Quarterly Dividends - April 27, 2007

HALIFAX, Nova Scotia, April 27, 2007, (EMA-TSX):: 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 June 30, 2007, payable on and after July1, 2007 to Series C preferred shareholders of record June 15, 2007; and a quarterly dividend of $0.36875 per Nova Scotia Power Incorporated Series D First Preferred Share for the quarter ending June 30, 2007 payable on and after July 15, 2007 to Series D preferred shareholders of record June 29, 2007.

Pursuant to the Income Tax Act (Canada) and corresponding provincial legislation, Nova Scotia Power Inc. hereby notifies its Series C preferred shareholders and its Series D preferred shareholders that such dividends declared qualify as eligible dividends.

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 safe, 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.

For more information: Nancy Tower, Chief Financial Officer (902) 428-6991 or Judy Steele, CA, Director, External and Investor Relations (902) 428 6999.