Moncton, NB - (July 5, 2005)

Fortis Properties Corporation announced today its plans to expand the Blue Cross Centre in Moncton, New Brunswick. A meeting held today with the Greater Moncton Planning Commission granted approval for this expansion to proceed.

This Class A complex is the premiere business address in Moncton and is head office to several of Atlantic Canada’s top companies. The proposed expansion will grow the complex by approximately 55,000 square feet of leasable space at a cost of $7.1 million, with over half of the proposed expansion space pre-leased. This approved addition to the Blue Cross Centre will increase its total space to over 300,000 square feet.

“We are pleased to receive the City of Moncton’s approval for these plans and are eager to get this project underway,” said Wayne Myers, Vice President, Real Estate, Fortis Properties Corporation. “Fortis Properties has incorporated feedback from the Greater Moncton Planning Commission and believes these plans are not only an investment in the Blue Cross Centre but also in the City of Moncton.”

“Since acquisition of the Blue Cross Centre in 2000, the property has performed consistently well,“ said Earl Ludlow, President and Chief Executive Officer, Fortis Properties Corporation. “The need for additional space has been indicated by existing tenants, and the plan to expand has certainly been driven by these recommendations and the growth of the Greater Moncton Area.”

Fortis Properties Corporation is owner/operator of the Blue Cross Centre. A subsidiary of Fortis Inc., Fortis Properties Corporation is a leading Atlantic Canadian-based company with holdings in commercial real estate, hotels, and hydroelectric generation. 

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