Scotia Capital Securities Lending Team Named Number One in the World for Service...

Scotia Capital Securities Lending Team Named Number One in the World for
Service During the Credit Crisis

TORONTO, Oct. 23 /PRNewswire-FirstCall/ - Scotia Capital's securities lending
team has been ranked number one in the world for service during the recent
credit crisis in the 2008 global Equity Lending Survey by isf Magazine.
"It is an honour to be recognized by isf Magazine for the hard work put in by
all the staff in securities lending to ensure that we offered the highest
level of support to our clients around the globe through the difficult credit
market," said Jim Buckley, Managing Director and Head of Global Equity
Finance, Scotia Capital. "This is the first time that we have appeared in
these rankings and it is a tribute to the support that all levels of senior
management have given to the securities lending team over the last five
years."
In addition to the number one ranking, Scotia Capital's securities lending
team was ranked second best borrower in the Americas and third for consistency
in the approach to pricing.
In the Equity Lending Survey the industry's borrowers rank their
counterparties, the lenders and vice versa according to specific service
categories. It is the only true benchmark of how the borrowers and lenders are
servicing each other.
Over the past 5 years, Scotia Capital has invested significant resources to
building its prime brokerage and equity finance business both throughout the
NAFTA region and globally. The investment includes upgrades in technology as
well as improvements in the level of service provided to clients, managing
counterparty risk and building out services internationally.
A subsidiary of Scotiabank, Scotia Capital offers lending, investment banking
and capital markets products to corporate, government and institutional
clients. It provides full-service coverage across the NAFTA region, as well as
a niche focus in select markets globally. Scotia Capital has 27 offices and
more than 300 relationship managers organized around industry specialties.

Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 60,000 employees, Scotiabank
Group and its affiliates serve approximately 12.5 million customers in some 50
countries around the world. Scotiabank offers a diverse range of products and
services including personal, commercial, corporate and investment banking.
With $462 billion in assets (as at July 31, 2008), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
www.scotiabank.com.

SOURCE Scotia Capital

Paula Cufre, Scotiabank Public Affairs, (416) 933-1093,
paula_cufre@scotiacapital.com