ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - June 24, 2005) - Karl Smith, President and Chief Executive Officer, Newfoundland Power Inc.(TSX:FTS), today announced the following changes to the executive team, effective July 1, 2005:
Ms. Lisa Hutchens, CA, formerly Vice President, Finance and Chief Financial Officer, is appointed to the position of Vice President, Customer and Corporate Services. Lisa is replacing Mike Mulcahy who is moving to FortisBC Inc. as a member of their executive team.
Ms. Jocelyn Perry, CA, is appointed to the position of Vice President, Finance. Jocelyn is currently Manager, Finance with Fortis Inc. Prior to joining Fortis, Jocelyn held senior financial positions in the telecommunications and accounting sectors.
"We are very pleased to welcome Jocelyn to Newfoundland Power as she will play a key role in helping our Company meet its future financial requirements," says Karl Smith. "Both Jocelyn and Lisa have made significant contributions to the successes achieved by the Fortis Group of Companies.
"With these appointments, we have in place a strong executive team that will lead the way as we continue to provide safe, reliable electricity service at the lowest possible cost to our customers in this province," adds Smith.
All the common shares of Newfoundland Power are owned by Fortis Inc., a diversified, international electric utility holding company with assets of approximately $4.0 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.
With a customer base of over 225,000 accounts, Newfoundland Power is 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 www.newfoundlandpower.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Newfoundland Power Inc.
Director, Corporate Communications
(709) 737-2821 or (709) 682-1470 (Cellular)