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Nova Scotia Power Inc. issues $50 million of Medium Term Notes

HALIFAX, Jan. 20, 2009 (Canada NewsWire via COMTEX) -- Today, Nova Scotia Power Inc. completed the issue of $50 million re-opened Series T Medium Term Notes. The re-opened Series T Notes bear interest at the rate of 5.75% and yield 5.455% per annum until October 1, 2013.

Nova Scotia Power Inc.'s agency group for this issue under its Medium Term Note Program is led by CIBC World Markets Inc., and includes RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc. and TD Securities Inc.

About Nova Scotia Power

Nova Scotia Power Inc. is the largest wholly-owned subsidiary of Emera Inc. (TSX-EMA), a diversified energy and services company. Nova Scotia Power provides more than 95% of the generation, transmission and distribution of electrical power to 478,000 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 1,800 employees and $3.2 billion in assets.

Forward Looking Information

This news release contains forward looking information. Actual future results may differ materially. Additional financial and operational information is filed electronically with various securities commissions in Canada through the System for Electronic Document Analysis and Retrieval (SEDAR).

SOURCE: Nova Scotia Power Inc.

SOURCE: Emera Inc.

Nancy Tower, FCA, Chief Financial Officer, Emera Inc., (902) 429-6991,
nancy.tower@emera.com; Jennifer Nicholson, CA, Director, Investor Relations and
Strategic Development, Emera Inc., (902) 428-6347, jennifer.nicholson@emera.com