Final Payment on the Fortis Inc. Debentures Represented by Instalment Receipts Due by October 27, 2014

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Oct. 21, 2014) - Fortis Inc. ("Fortis" or the "Corporation") (TSX:FTS) reminds holders of its 4% convertible unsecured subordinated debentures ("Debentures") represented by instalment receipts ("Instalment Receipts") that the final instalment payment of $667 per $1,000 principal amount of Debentures is due by October 27, 2014 (the "Final Instalment Date"). Payment must be submitted by holders through their broker, investment advisor or other intermediary using the electronic payment system maintained by CDS Clearing and Depository Services Inc. ("CDS"). Brokers, investment advisors or other intermediaries may have a payment processing deadline which is earlier than the Final Instalment Date. Holders who have not yet done so should contact their broker, investment advisor or other intermediary immediately to make arrangements to pay the balance owed in respect of their Debentures.

Holders who have paid the final instalment on the Final Instalment Date have the right to convert their Debentures into Fortis common shares ("Common Shares") at a conversion price of $30.72 per Common Share (the "Conversion Price") on the Final Instalment Date, or at any time thereafter prior to redemption or maturity. The election to convert the Debentures to Common Shares must also be made by a holder through their broker, investment advisor or other intermediary using the electronic system maintained by CDS. Holders who convert their Debentures to Common Shares on the Final Instalment Date will receive their Common Shares on the day following the Final Instalment Date. Fortis has five business days to deliver Common Shares in respect of any conversion of Debentures made after the Final Instalment Date.

On the day following the Final Instalment Date, the interest rate payable on the Debentures will fall to an annual rate of 0% and interest will cease to accrue on the Debentures. Fortis expects the Instalment Receipts to be delisted from the Toronto Stock Exchange (the "TSX") on or about the Final Instalment Date. The Debentures are not and will not be listed on the TSX and may be redeemed after the Final Instalment Date at par.

On the Final Instalment Date holders will receive accrued and unpaid interest of $6.2637 per $1,000 principal amount of Debentures and on the following day, holders of Debentures who have paid the final instalment on or before the Final Instalment Date will also receive a make-whole payment of $8.1473 per $1,000 principal amount of Debentures, representing the interest that would have accrued from the day following the Final Instalment Date to and including January 9, 2015.