National Bank Unveils its New Advantage 8 Plus GIC

MONTREAL, QUEBEC, Jan 15 (MARKET WIRE) --
National Bank (TSX: NA) has unveiled the first issue of its new
Advantage 8 Plus GIC, available from January 9 to March 7, 2008. This
investment solution combines principal protection to maturity and
exposure to a benchmark portfolio composed of common shares in 20 leading
Canadian, U.S., European, Japanese and Australian companies.

- Principal fully protected by National Bank at maturity

- Minimum initial investment of $500

- 5-year term

- Minimum guaranteed return at maturity

National Bank's Advantage 8 Plus GIC lets investors take advantage of an
innovative structure that automatically assigns a 50% return to eight of
the stocks in the benchmark portfolio, regardless of whether their actual
return was over or under 50%. In addition, it provides global
diversification without currency risk.

The minimum investment required is $500. At maturity, i.e., on March 14,
2013, the investor will receive, in addition to his principal, a return
corresponding to the average return of the 20 stocks in the benchmark
portfolio (subject to a maximum of 50%).(1) The return of the GIC is then
determined by automatically assigning a return of 50% to the eight stocks
with the highest returns, while the performance of the 12 other stocks in
the benchmark portfolio is calculated according to their actual returns.
Because of the minimum guaranteed return, the return at maturity will be
at least 13.14%, which is equivalent to an annual compound return of
approximately 2.50%.

The Advantage 8 Plus qualifies for registered retirement savings plans
(RRSP), registered retirement income funds (RRIF), deferred
profit-sharing plans (DPSP) and registered education savings plans
(RESP). It is also eligible for CDIC deposit insurance.(2)

This investment solution can be purchased from advisors in National Bank
branches. Investors and clients of National Bank can also purchase
National Bank GICs directly through TelNat telephone banking solutions at
(1-888-483-5628), National Bank Direct Brokerage (www.nbdb.ca or
1-800-293-6637) and through any investment advisor or financial planner
in Canada.

Advantage 8 Plus - Compound interest

(1) The Advantage 8 Plus GIC is an investment that is fully principal
protected by National Bank at maturity. The change in the benchmark
portfolio's return has a direct impact on the interest payable. If the
benchmark portfolio does not yield at least 13.14% at maturity, the GIC
will not produce any variable return. It is therefore possible that no
variable interest will be paid. No management fees are applied. The
return generated by the benchmark portfolio does not take into account
the payment of dividends or distributions on the common stocks included
in the benchmark portfolio.

(2) The Advantage 8 Plus GIC is a deposit eligible for deposit insurance
from the Canada Deposit Insurance Corporation (CDIC), subject always to
maximum coverage limitations and provided the deposit is made in
accordance with the conditions set out by the CDIC as outlined in its
"Protecting Your Deposits" brochure (available online at www.cdic.ca or
by calling 1-800-461-7232).

About National Bank of Canada

National Bank of Canada is an integrated group which provides
comprehensive financial services to consumers, small and medium-sized
enterprises and large corporations in its core market, while offering
specialized services to its clients elsewhere in the world. The National
Bank offers a full array of banking services, including retail, corporate
and investment banking. It is an active player on international capital
markets and, through its subsidiaries, is involved in securities
brokerage, insurance and wealth management as well as mutual fund and
retirement plan management. National Bank has more than $113 billion in
assets and, together with its subsidiaries, employs 16,863 people. The
Bank's securities are listed on the Toronto Stock Exchange (TSX: NA). For
more information, visit the Bank's website at www.nbc.ca.

The telephone number provided below is for the exclusive use of
journalists and other media representatives.

Contacts:
National Bank of Canada
Denis Dube
Senior Director - Public Relations
514-394-8644

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