St. John's, NL - (October 2, 2003)

Fortis Properties Corporation, a leading owner/manager of office buildings and hotels, announced today that it has completed the previously announced acquisition of four hotel properties located in Cambridge, Kitchener-Waterloo, Sarnia and Peterborough in Ontario, Canada. Fortis Properties will assume ownership and management of the hotel properties effective immediately.

The Holiday Inn branded hotels were acquired from FelCor Lodging Trust for a purchase price of $43.2 million. The acquisition increases Fortis Properties portfolio of hotels to 12, with 8 properties located in Atlantic Canada and 4 in Ontario.

Fortis Properties Corporation, a wholly owned subsidiary of Fortis Inc., is a leader in the ownership and management of office buildings, shopping centers and hotels. The Company owns and manages 2.7 million square feet of commercial real estate and twelve hotels under various brands throughout Atlantic Canada and Ontario. Parent company, Fortis Inc. is listed on the Toronto Stock Exchange and trades under the ticker symbol FTS. To find out more about Fortis Properties Corporation, visit our website at www.fortisproperties.com.

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