Notice Of Guaranteed Delivery

				for

		   Bangor Hydro-Electric Company

This form or one substantially equivalent hereto must be used to accept
the Offer to Purchase Bangor Hydro-Electric Company (the "Company"), made
pursuant to the Offer to Purchase dated January 27, 2003 (the "Offer") and
the accompanying Letter of Transmittal, if certificates for the 7% Series
preferred shares are not immediately available or time will not permit all
required documents to reach the Depository prior to the Expiration Date of
the Offer. If the certificates or a permitted Affidavit of Loss are being
provided in a timely manner, there is no need for you to complete or submit
this form.  Such form may be delivered by hand, by mail, or by overnight
delivery to the Depository, EquiServe Trust, N.A. in the manner and at the
addresses set forth below.  See Section 3, "Procedures for Tendering Shares"
in the Offer.


			  EQUISERVE TRUST, N.A.

BY MAIL:                   BY HAND:                BY OVERNIGHT DELIVERY:
--------                   --------                ----------------------
EquiServe Trust            Securities Transfer     EquiServe Trust
Corporate Actions          & Reporting             Attn: Corporate Actions
Post Office Box 43014      c/o EquiServe Trust     150 Royall Street
Providence, RI             100 William's Street,   Canton, MA  02021
02940-3014                 Galleria
			   NewYork, NY  10038



DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS OTHER THAN
AS SET FORTH ABOVE WILL NOT CONSTITUTE A VALID DELIVERY.



Ladies and Gentlemen:

The undersigned hereby tender(s) to the Company, upon the terms and
subject to the conditions set forth in the Offering Memorandum and the
Letter of Transmittal, receipt of which is hereby acknowledged, the number
of 7% Series Preferred shares set forth below, pursuant to the guaranteed
delivery procedure set forth under the caption "Procedures for Tendering
Shares" in the Offer. By so tendering, the undersigned hereby does make, at
and as of the date hereof, the representations and warranties of a tendering
holder of shares as set forth in the Letter of Transmittal.

All authority hereby conferred or agreed to be conferred by this Notice
of Guaranteed Delivery shall survive the death or incapacity of the
undersigned and every obligation of the undersigned under this Notice of
Guaranteed Delivery shall be binding upon the heirs, personal
representatives, executors, administrators, successors, assigns, trustees in
bankruptcy and other legal representatives of the undersigned.

		     PLEASE SIGN AND COMPLETE

Signature(s) of Registered Owner(s) or        Name(s) of Registered Holder(s):
Authorized Signatory:

___________________________________           ___________________________

___________________________________           ___________________________
					      (Please Print)

Name(s) ____________________________          Address ____________________

					      Tel. No.(s)_________________


(Please Type or Print)

7% Series Preferred Shares Tendered Hereby:

Stock Certificate Nos. (if available)_________________________

Number of Shares Tendered ___________




			       GUARANTEE
	       (Not to be used for signature guarantee)

The undersigned, a firm that is a member of a registered national
securities exchange or a member of the NASD, a commercial bank or trust
company having an office or correspondent in the United States or that is
otherwise an "eligible guarantor institution" within the meaning of Rule
17Ad-15 under the Securities Exchange Act of 1934, as amended, hereby (a)
represents that each holder of 7% Series Preferred Shares on whose behalf
this tender is being made "own(s)" the shares covered hereby, and (b)
guarantees that, within three business days from the date of this Notice of
Guaranteed Delivery, a properly completed and duly executed Letter of
Transmittal, together with certificates representing the shares tendered
hereby in proper form for transfer with any required signature and any other
required documents, will be deposited by the undersigned with the
Depository.

The undersigned acknowledges that it must deliver the Letter of
Transmittal and 7% Series Preferred shares tendered hereby to the Depository
within the time set forth above and that failure to do so could result in
financial loss to the undersigned.

Name of Firm _________________________   Authorized Signature ____________

Address ______________________________

	______________________________   Print Name  ________________________


Area Code and Telephone No.:             Title ______________________________


_________________________                Dated: _____________________________