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-Fortis Inc. Announces C$ 500 Million Sale of Common Shares

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR - Fortis Inc. ('Fortis' or the 'Corporation') (TSX:FTS)(NYSE:FTS) announced today that it has entered into an agreement with an institutional investor in the United States to issue and sell 12,195,122 common shares of Fortis (the 'Shares') at a price of C$ 41.00 per share, for gross proceeds of approximately C$ 500,000,000 (the 'Offering').

The Shares were offered and are being sold directly to the institutional investor by Fortis without an underwrite

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