Mr. Peter Slan reports

SCOTIABANK COMPLETES COMMON SHARE OFFERING

Bank of Nova Scotia has completed its previously announced public offering of 33 million common shares, at a price of $50.25 per common share, for gross proceeds of $1,658,250,000. The offering was underwritten by a syndicate of underwriters led by Scotia Capital Inc. on a bought-deal basis. The common shares issued include three million shares purchased by the underwriters pursuant to the overallotment option, exercised in full by the underwriters.

The common shares issued are listed on the Toronto Stock Exchange and the New York Stock Exchange.