HALIFAX, Sept. 2 /CNW/ - The senior management team of Emera Fuels and several other individual investors have agreed to purchase Emera Fuels from Emera Inc.(TSX:EMA). Emera Fuels is a heating oil distribution company with 11 branch locations throughout Nova Scotia and New Brunswick. The business will continue to operate under the Emera Fuels brand until March 31, 2006. Bill Sanford has been General Manager of Emera Fuels since its beginning, and is President of the new venture. "The management team is proud to be owners of the oil business that we built together over the past six years," he said. "Emera Fuels has grown quickly and has already achieved industry-leading results in customer service and safety." "This is a win-win situation", says Chris Huskilson, President and CEO of Emera Inc. "Selling the oil company enables Emera Inc. to focus on our core business. The Emera Fuels team has done an excellent job of building the business, and I am pleased they are now the owners. I believe this is positive for employees and for customers". The transaction is expected to close on September 30, 2005. About Emera Inc. Emera Inc. (EMA-TSX) is an energy and services company with 570,000 customers and $4.0 billion in assets. The core business of Emera is electricity and the company has two wholly-owned regulated electric utility subsidiaries, Nova Scotia Power Inc. and Bangor Hydro-Electric Company. Nova Scotia Power supplies over 95% of the electric generation, transmission and distribution in Nova Scotia. Visit Emera on the web at www.emera.com.