Market Overview

Newfoundland Power Declares Dividends on Series A, B, D and G First Preference Shares

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ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 30, 2012) - Newfoundland Power Inc. has declared regular quarterly dividends on its Series A, B, D and G First Preference Shares as follows:



1. a dividend of $0.1375 per share on the issued and outstanding 5 1/2%
Cumulative Redeemable First Preference Shares Series A of the Company
for the quarter ending January 31st, 2013, be and it is hereby declared
payable February 1st, 2013 to the Series A First Preference Shareholders
of Record at the close of business January 11th, 2013;

2. a dividend of $0.13125 per share on the issued and outstanding 5 1/4%
Cumulative Redeemable First Preference Shares Series B of the Company
for the quarter ending January 31st, 2013, be and it is hereby declared
payable February 1st, 2013 to the Series B First Preference Shareholders
of Record at the close of business January 11th, 2013;

3. a dividend of $0.18125 per share on the issued and outstanding 7 1/4%
Cumulative Redeemable First Preference Shares Series D of the Company
for the quarter ending February 28th, 2013, be and it is hereby declared
payable March 1st, 2013 to the Series D First Preference Shareholders of
Record at the close of business February 8th, 2013;

4. a dividend of $0.19 per share on the issued and outstanding 7.60%
Cumulative Redeemable First Preference Shares Series G of the Company
for the quarter ending December 31st, 2012 be and it is hereby declared
payable January 1st, 2013 to the Series G First Preference Shareholders
of Record at the close of business December 14th, 2012; and,

5. the dividends hereby declared payable be and are hereby designated as
eligible dividends within the meaning of s.89(1) of the Income Tax Act
(Canada).



All the common shares of Newfoundland Power Inc. are owned by Fortis Inc. (TSX:FTS), the largest investor-owned distribution utility in Canada, with total assets of more than $14 billion and fiscal 2011 revenue totalling approximately $3.7 billion. Fortis serves more than 2,000,000 gas and electricity customers. Its regulated holdings include electric distribution utilities in five Canadian provinces and two Caribbean countries and a natural gas utility in British Columbia. Fortis owns and operates non-regulated generation assets across Canada and in Belize and Upstate New York. It also owns hotels and commercial office and retail space in Canada. Fortis shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.

With a customer base of approximately 250,000 accounts, Newfoundland Power is committed to safety and dedicated to providing the highest level of customer service and reliability of electricity in the most cost-efficient manner possible. For more information on Newfoundland Power's programs, services and community partnerships, please visit newfoundlandpower.com.

FOR FURTHER INFORMATION PLEASE CONTACT:
Ms. Jocelyn Perry
Vice President, Finance & Chief Financial Officer
Newfoundland Power Inc.
Office: (709) 737-2812
(709) 737-5300 (FAX)

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