Business: Fortis, Inc. Cumulative Redeemable First Preference Shares, Series F liquidation preference $25 per share, redeemable at the issuer's option on or after 12/01/2011 but before 12/01/2012 at $26.00 (104%) Canadian dollars per share plus accrued and unpaid dividends; on or after 12/01/2012 but before 12/01/2013 at $25.75 (103%) Canadian dollars per share plus accrued and unpaid dividends; on or after (12/01/2013 but before 12/01/2014 at $25.50 (102%) Canadian dollars per share plus accrued and unpaid dividends; on or after 12/01/2014 but before 12/01/2015 at $$25.25 (101%) Canadian dollars per share plus accrued and unpaid dividends and on or after 12/01/2015 at $25.00 (100%) per share plus accrued and unpaid dividends, and with no stated maturity. <p> Cumulative distributions of 4.90% per annum ($1.2250 Canadian dollars per annum or $0.30625 Canadian dollars per quarter) will be paid quarterly on 3/1, 6/1, 9/1 & 12/1 to holders of record on the record date fixed by the board, not more than (__) days or less than (__) days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). <p> The eligibility of this security for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also the eligibility for the dividends received deduction for corporate holders is unknown. <p> In regard to the payment of distributions and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.