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Nova Scotia Power Inc. approves preferred share quarterly dividends

    TSX: NSI.PR.C
    NSI.PR.D

    HALIFAX, Nov. 6 /CNW/ - 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, 2008,
payable on and after January 1, 2009 to Series C preferred shareholders of
record December 18, 2008; and a quarterly dividend of $0.36875 per Nova Scotia
Power Incorporated Series D First Preferred Share for the quarter ending
December 31, 2008 payable on and after January 15, 2009 to Series D preferred
shareholders of record January 1, 2009.
    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.

    About Nova Scotia Power

    Nova Scotia Power Inc. is the largest wholly-owned subsidiary of Emera
(TSX-EMA), a diversified energy company. Nova Scotia Power provides more than
95% of generation, transmission, and distribution of electrical power to
480,000 customers in the province. The Company is focused on new technologies
to enhance customer service and reliability, reduce emissions and add
renewable energy. Nova Scotia Power has 1,700 employees and $3 billion in
assets. Nova Scotia Power Inc. preferred shares are traded on the Toronto
Stock Exchange under the symbols NSI.PR.C and NSI.PR.D.

For further information: Nancy Tower, Chief Financial Officer, (902)
428-6991; Jennifer Nicholson, Director Investor Relations and Corporate
Strategy, (902) 428-6347