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October 18, 2016

For Release: Immediately

Central Hudson Parent Fortis Inc. Listed on NYSE

Fortis Inc., parent company of Central Hudson Gas & Electric Corp., celebrated its listing on the New York Stock Exchange (NYSE) today with Barry Perry, President and C.E.O., ringing the bell to open the market. Trading of Fortis stock commenced on Friday, Oct. 14, 2016, in conjunction with the closing of the $11.3 billion acquisition of ITC Holdings Corp., the largest acquisition by Fortis to date.

"We are excited to see the Fortis ticker run across the NYSE screens, providing improved access for investors in the United States," said Perry.

“Fortis’s listing at the NYSE is the next step in the evolution of Fortis, and a significant milestone in the company’s history,” said Michael L. Mosher, President and C.E.O. of Central Hudson. “This affords our customers and investors better opportunities to invest in our parent corporation.

“With the recent acquisition of mid-west transmission operator ITC Holdings, approximately 60 percent of Fortis’s assets are now located in the United States, and Fortis is one of the top 15 largest utilities in North America.”

Fortis acquired Central Hudson in 2013, its first acquisition in the United States. As a Fortis company, Central Hudson retains local management, and recently appointed Mosher, a 26-year employee from the Mid-Hudson Valley, as President and C.E.O. Central Hudson’s board of directors now includes four members from the Hudson Valley region, and financial benefits of nearly $50 million from Fortis have funded economic development programs and provided savings for customers. In addition, Fortis supports Central Hudson’s longstanding commitment to employee volunteerism and sponsorship of local community service agencies.

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About Central Hudson

Central Hudson Gas & Electric Corporation is a regulated transmission and distribution utility serving approximately 300,000 electric and about 78,000 natural gas customers in eight counties of New York State’s Mid-Hudson River Valley. A subsidiary of Fortis Inc., Central Hudson is headquartered in Poughkeepsie and delivers natural gas and electricity in a 2,600-square-mile service territory that extends north from the suburbs of metropolitan New York City to the Capital District at Albany.

 

About Fortis

Fortis is a leader in the North American regulated electric and gas utility industry with assets of more than CAD$45 billion. The Corporation’s 8,000 employees serve customers at utility operations in five Canadian provinces, nine U.S. states and three Caribbean countries.

Fortis shares are listed on the TSX and NYSE and trade under the symbol FTS. Additional information can be accessed at www.fortisinc.com, www.sedar.com, or www.sec.gov.

 

Above left: Fortis Inc., parent company of Central Hudson Gas & Electric Corp., now trades on the New York Stock Exchange (NYSE). Two Fortis utility trucks and a banner announce the energy company’s listing on Wall Street today.

Above right: The Fortis executive team and guests ring the opening bell at the NYSE.