Fortis Announces Fourth Quarter Dividends-2008

09/24/2008 15:50 EST

St. John's, NL – September 24, 2008

FORTIS ANNOUNCES FOURTH QUARTER DIVIDENDS – 2008

Today, the Board of Directors of Fortis Inc. (the “Corporation”) (TSX:FTS) has declared the following dividends:

  1. 1. $0.25 per share on the issued and outstanding fully paid Common Shares of the Corporation, payable on December 1, 2008 to the Common Shareholders of Record at the close of business on November 7, 2008;

     

  2. 2. $0.340625 per share on the First Preference Shares, Series “C” of the Corporation, payable on December 1, 2008 to the Shareholders of Record at the close of business on November 7, 2008;

     

  3. 3. $0.3063 per share on the First Preference Shares, Series “E” of the Corporation, payable on December 1, 2008 to the Shareholders of Record at the close of business on November 7, 2008;

     

  4. 4. $0.3063 per share on the First Preference Shares, Series “F” of the Corporation, payable on December 1, 2008 to the Shareholders of Record at the close of business on November 7, 2008; and,

     

  5. 5. $0.3281 per share on the First Preference Shares, Series “G” of the Corporation, payable on December 1, 2008 to the Shareholders of Record at the close of business on November 7, 2008; and,

The Corporation has designated the common share dividend and preference share dividends as eligible dividends for federal and provincial dividend tax credit purposes.

Fortis is the largest investor-owned distribution utility in Canada.  With total assets of approximately $10.5 billion and annual revenue of more than $2.7 billion, the Corporation serves almost 2,000,000 gas and electricity customers.  Its regulated holdings include a natural gas utility in British Columbia and electric distribution utilities in five Canadian provinces and three Caribbean countries.  Fortis owns non-regulated generation assets across Canada and in Belize and Upper New York State.  It also owns hotels and commercial real estate in Canada.  Fortis shares are listed on the Toronto Stock Exchange and trade under the symbol FTS.  Additional information relating to Fortis and its holdings can be accessed at www.fortisinc.com or www.sedar.com.

Fortis Inc. Ms. Donna Hynes Manager, Investor Relations 709-737-2800 709-737-5307 (FAX)

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