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

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 underwriter or placement agent. The net proceeds of

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