Hydro One names Formusa President and CEO

TORONTO, ONTARIO - Rita Burak, Chair of the Board of Directors of Hydro One Inc. announced the appointment of Laura Formusa to the position of President and CEO, Hydro One Inc.

Ms. Formusa was appointed acting President and Chief Executive Officer of Hydro One Inc. on December 8, 2006. Prior to holding this position, she held the position of General Counsel and Secretary for Hydro One Inc., having been appointed in 2003. She joined Ontario Hydro in 1980, following her call to the Bar of Ontario.

Ms. Formusa has been a member of the Executive Committee since 2003 and has previously served as Secretary to the Board of Directors. She held various senior positions until being appointed General Counsel of Hydro One Networks Inc. in 2000.

Ms. Formusa earned her Bachelor of Laws degree at Osgoode Hall Law School and was admitted to the Law Society of Upper Canada in 1980. "As Hydro One enters one of its most significant building phases in more than twenty years, Laura's legal and regulatory background, combined with her knowledge of our business makes her the right choice," said Rita Burak, Chair of the Board of Directors.

"In addition to her experience, Laura has proven herself to be an adept leader, a consensus builder and one of Hydro One's most dedicated employees."

Hydro One Inc. is a holding company that operates through its subsidiaries in electricity transmission and distribution and telecom businesses. One of its subsidiaries, Hydro One Networks Inc., operates one of the largest transmission and distribution systems in North America.

Hydro One Inc. is wholly owned by the Province of Ontario.