ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(CCNMatthews - April 17, 2007) - Newfoundland Power Inc. (TSX:FTS) announced today that Karl W. Smith will be resigning as President & Chief Executive Officer of the Company effective April 30, 2007.
Mr. Smith will be assuming the position of President & Chief Executive Officer of FortisAlberta Inc. effective May 1, 2007.
"The Board of Directors will meet in the upcoming weeks to consider the matter of succession to the position of President & Chief Executive Officer of the Company," said Mr. David Norris, Chair of the Board of Newfoundland Power Inc.
With a customer base of over 230,000 accounts, Newfoundland Power is dedicated to providing the highest level of customer service and reliability in the most cost-efficient manner possible. All the common shares of Newfoundland Power are owned by Fortis Inc., a diversified, international distribution utility holding company with assets exceeding $5.4 billion and annual revenues of approximately $1.5 billion. The Common Shares, First Preference Shares, Series C; First Preference Shares, Series E; First Preference Shares, Series F; and Subscription Receipts of Fortis are traded on the Toronto Stock Exchange under the symbols FTS, FTS.PR.C, FTS.PR.E, FTS.PR.F and FTS.R, respectively. Fortis information can be accessed at www.fortisinc.com. For more information on Newfoundland Power's programs and services, visit www.newfoundlandpower.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Newfoundland Power Inc.
Mr. Peter Alteen
Corporate Secretary
709-737-5859
709-737-5300 (FAX)
Newfoundland Power Inc.
Mr. Bob Pike
Manager, Corporate Services
709-737-5674
Cellular: 709-685-4242
