MAM Maine & Maritimes Corp.

Maine & Maritimes Corporation (NYSE Amex: MAM) announced today that a majority of its shares were voted (by 99 percent of the votes cast) in favor of adopting the merger agreement with BHE Holdings Inc. of Bangor, ME (BHE), a subsidiary of Emera Inc. (TSX: EMA). The transaction remains subject to approval by the Maine Public Utilities Commission, the Federal Energy Regulatory Commission, and the satisfaction or waiver of other customary closing conditions. All outstanding shares of MAM common stock will be purchased for US$45.00 per share in cash, and the transaction is expected to close before the end of the year.

"We are pleased that MAM shareholders have overwhelmingly supported this transaction," said Chairperson of the Board Richard G. Daigle. "On behalf of the Board and Management Team, I want to thank our shareholders, customers, and dedicated employees for their support throughout this process. We look forward to completing the merger with Emera and to creating a stronger company within the Emera family."

All proxy cards and ballots submitted at the MAM Shareholders' Annual Meeting were processed by Computershare Trust Company, MAM's transfer agent, for final tabulation and certification.

About Maine & Maritimes Corporation:

Maine & Maritimes Corporation (NYSE Amex: MAM) is the parent company of Maine Public Service Company, a regulated electric transmission and distribution utility serving approximately 36,000 electricity customer accounts in Northern Maine. MAM is also the parent company of MAM Utility Services Group, an unregulated corporation that provides electrical services, including transmission line and substation design and construction. Corporate headquarters are located in Presque Isle, Maine, and the corporate website is www.maineandmaritimes.com.

About Emera:

Emera Inc. (TSX: EMA) (TSX: EMA.PR.A) is an energy and services company with $5.4 billion in assets. Electricity is Emera's core business. Approximately 94% of Emera's revenues are earned by Nova Scotia Power Inc (NSPI), Bangor Hydro Electric Company (BHE) and the Brunswick Pipeline. NSPI and BHE are wholly-owned regulated electric utilities which together serve 603,000 customers. The Brunswick Pipeline is a 145 km gas pipeline in New Brunswick. Emera also owns 38% of Barbados Light and Power which serves 120,000 customers on the Caribbean island of Barbados, 19% of St. Lucia Electricity Services Limited, which serves more than 50,000 customers on the Caribbean island of St. Lucia and 25% of Grand Bahama Power Company which serves 19,000 customers on the Caribbean island of Grand Bahama. In addition to its electric utility investments, Emera owns Bayside Power, a 260 MW gas-fired power plant in Saint John, New Brunswick; Emera Energy Services, a physical natural gas and power marketing and asset management business; a joint venture interest in Bear Swamp, a 600 megawatt pumped storage hydro-electric facility in northern Massachusetts; a 12.9% interest in the Maritimes & Northeast Pipeline; and an 8.2% interest in Open Hydro. Visit Emera on the web at www.emera.com.

Cautionary Statement Regarding Forward-Looking Information:

Except for historical information, all other information provided in this news release consists of "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Although Maine & Maritimes Corporation believes that such statements are based on reasonable assumptions, any such statements involve uncertainties and risks that may cause actual results to differ materially from those projected, anticipated, or implied. MAM cautions that there are certain factors that can cause actual results to differ materially from forward-looking information that has been provided, including, without limitation, the proposed transaction failing to close due to a condition to closing not having been met or otherwise potential changes in applicable laws and regulations, potential changes in Management, its ability to raise necessary operating and growth capital, increased interest costs, its ability to execute its business plans in a timely and efficient manner, the loss of customers and other factors that are more detailed in MAM's filings with the Securities and Exchange Commission.

This press release contains forward-looking information and forward-looking statements which reflect the current view of Emera with respect to the Company's objectives, plans, financial and operating performance, business prospects and opportunities. Wherever used, the words "may", "will", "anticipate", "intend", "expect", "estimate", "plan", "contemplate" and similar expressions identify forward-looking statements and forward-looking information. Forward-looking statements and forward-looking information should not be read as guarantees of future events, performance or results, and will not necessarily be accurate indications of whether, or the times at which, such events, performance or results will be achieved. Emera disclaims any intention or obligation to update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.

MAM-G = General release

For More Information Contact: Virginia R. Joles Director of Communications, Board Relations and Economic Development Tel: 207.760.2418 www.maineandmaritimes.com