Ms. Janet Craig reports

FORTIS INC. ANNOUNCES LAUNCH OF US$2.0 BILLION NOTES OFFERING

Fortis Inc. has commenced an offering of notes due 2021 and notes due 2026 in a combined aggregate principal amount of $2.0-billion (U.S.).

The corporation intends to use the net proceeds from the notes offering to finance a portion of the cash consideration for the previously announced acquisition of ITC Holdings Corp.

The notes will only be offered to qualified institutional buyers in the United States pursuant to Rule 144A under the U.S. Securities Act of 1933, as amended, and outside the U.S. pursuant to Regulation S under the Securities Act. The notes will not be offered or sold in Canada.

About Fortis

Fortis is a leader in the North American electric and gas utility business, with total assets of approximately $29-billion as of June 30, 2016, and revenue of $6.7-billion for fiscal year 2015. As of June 30, 2016, the corporation's asset mix is approximately 94 per cent regulated (69 per cent electric, 25 per cent gas), with the remaining 6 per cent comprising non-regulated energy infrastructure. The corporation's regulated utilities serve more than three million customers across Canada, the United States and the Caribbean.

We seek Safe Harbor.