Nova Scotia Power Inc. announces redemption of preferred shares

    HALIFAX, Feb. 27 /CNW/ - Today, Nova Scotia Power Inc. (the "Company")
announced that effective April 1, 2009 (the "redemption date") the Company
will redeem all of its outstanding Cumulative Redeemable First Preferred
Shares, Series C (the "Series C shares") for a redemption price of $25.00 per
    The Notice of Redemption and associated documents are being sent to
Registered holders of these shares today. Beneficial holders of the Series C
shares should contact the financial institution, broker or other intermediary
through which they hold these shares to confirm how they will receive their
redemption proceeds.
    After the redemption date, holders of the Series C shares will cease to
be entitled to dividends or to exercise any rights of shareholders.

    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 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 1,800 employees and
$3.5 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

For further information:

For further information: Nancy Tower, FCA, Chief Financial Officer,
Emera Inc., (902) 429-6991,; Jennifer Nicholson, CA,
Director, Investor Relations and Strategic Development, Emera Inc., (902)

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Nova Scotia Power Inc.

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Emera Inc.

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