Fortis Inc.

Fortis Inc.
Fortis Properties Corporation

Fortis Properties Corporation

February 02, 2005 09:51 ET

Fortis Properties Completes Acquisition of 3 Hotels in Western Canada


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FORTIS INC.

TSX SYMBOL: FTS

AND FORTIS PROPERTIES CORPORATION

FEBRUARY 2, 2005 - 09:51 ET

Fortis Properties Completes Acquisition of 3 Hotels in
Western Canada

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - Feb. 2, 2005) -
Fortis Properties Corporation, a wholly owned subsidiary of Fortis Inc.
(TSX:FTS), announced today that it completed its previously announced
acquisition of 3 hotels located in Edmonton, Calgary and Winnipeg from
Greenwood Inn Ltd. for $62.6 million on February 1, 2005.

The acquisition expands the hospitality operations of Fortis Properties
by 650 rooms. Each of the full-service hotels offers quality rooms and
varied guest amenities, food and beverage outlets, meeting and fitness
facilities and a pool. As part of its purchase agreement, the Company
acquired ownership and franchising rights to the Greenwood Inn brand,
currently promoted within the regional market.

With the addition of these 3 hotels, Fortis Properties owns and operates
15 hotels, representing over 2,800 rooms, in Newfoundland, Nova Scotia,
New Brunswick, Ontario, Manitoba and Alberta. In addition to these
holdings, the Company is a leading owner/operator of commercial real
estate in Atlantic Canada, with over 2.7 million square feet of office
and retail space. Fortis Properties also owns 4 hydroelectric
generating plants in upstate New York, USA. In total, the Company
employs over 1,500 people. Fortis Properties information can be accessed
at www.fortisproperties.com.

Fortis Inc. is a diversified, international electric utility holding
company with assets of $3.7 billion and annual revenues of approximately
$1.2 billion. The Common Shares, Series C First Preference Shares and
Series E First Preference Shares of Fortis Inc. are traded on the
Toronto Stock Exchange under the symbols FTS, FTS.PR.C and FTS.PR.E,
respectively. Fortis Inc. information can be accessed at
www.fortisinc.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Fortis Inc.
    Barry V. Perry
    Vice President Finance and Chief Financial Officer
    (709) 737-2822
    www.fortisinc.com
    or
    Fortis Properties Corporation
    Neal J. Jackman
    Vice President Finance and Chief Financial Officer
    (709) 737-2800
    www.fortisproperties.com