National Bank Announces Record Net Income for the Third Quarter of 2009

MONTREAL, QUEBEC, Aug 27 (MARKET WIRE) --
(TSX: NA)

The financial information in this press release is based on the unaudited
interim consolidated financial statements for the third quarter and the
nine-month period ended July 31, 2009. Additional information about
National Bank of Canada, including the Annual Information Form, can be
obtained from the SEDAR website at www.sedar.com and the Bank's website
at www.nbc.ca.

Highlights for the third quarter of 2009:

- Record net income of $303 million for the third quarter of 2009, up 6%
from the $286 million in net income for the third quarter of 2008

- Diluted earnings per share of $1.78 for the third quarter, an increase
of 3% over the diluted earnings per share of $1.73 for the same quarter
of 2008

- Return on equity of 22.1%

- Tier 1 capital ratio of 10.5% as at July 31, 2009 compared to 9.4% as
at October 31, 2008

Highlights excluding specified items for the third quarter of 2009(1):

- Record net income of $304 million for the third quarter of 2009, up 20%
from the $253 million in net income for the third quarter of 2008

- Diluted earnings per share of $1.79 for the third quarter of 2009, an
increase of 18% over the diluted earnings per share of $1.52 for the same
quarter of 2008

- Return on equity of 21.3%

(1) The financial reporting method is explained in detail on page 5.

National Bank today announced net income of $303 million for the third
quarter of fiscal 2009, up 6% from the $286 million in net income posted
in the third quarter of 2008. Diluted earnings per share were $1.78
versus $1.73 for the same quarter of 2008. The results for this quarter
include $1 million in after-tax costs related to holding asset-backed
commercial paper (ABCP). In the third quarter of 2008, the Bank had
recorded $24 million in after-tax ABCP-related charges, including a
provision for credit losses related to holding ABCP, an ABCP impairment
charge, a gain on economic hedge transactions, financing costs, and
professional fees. In addition, the Bank had recorded a $57 million
after-tax gain as a result of the merger between the Montreal Exchange
Inc. and TSX Group Inc. Excluding specified items, third quarter net
income would have been $304 million compared to $253 million in the third
quarter of 2008, for an increase of 20%. Diluted earnings per share would
have been $1.79, up 18% from $1.52 in the same quarter of 2008.

For the first nine months of fiscal 2009, the Bank's net income stood at
$613 million compared to $706 million for the same period of 2008.
Excluding specified items, all related to the impact of ABCP in the first
nine months of fiscal 2009, net income would have stood at $818 million
compared to $719 million, a 14% increase over the same period of 2008
excluding a gain on the sale of the Bank's subsidiary in Nassau, a gain
resulting from the merger between the Montreal Exchange Inc. and TSX
Group Inc., and the charges related to holding ABCP. Diluted earnings per
share stood at $3.55 for the first nine months compared to $4.30 for the
same period of 2008. Excluding specified items, diluted earnings per
share stood at $4.83, up $0.44 or 10% compared to the first nine months
of 2008.

"Excellent performance in the Financial Markets segment and the quality
of our credit portfolios contributed greatly to these exceptional results
for the third quarter of 2009. As planned, the Bank continued to invest
significantly in its 'One client, one bank' program, which will enhance
the network in the Personal and Commercial and Wealth Management
segments, among other things. The Bank also hired new employees in its
branch network," stated the Bank's President and Chief Executive Officer,
Louis Vachon.

Results by Segment

Personal and Commercial

The Personal and Commercial segment contributed $251 million in the third
quarter of 2009, an increase of $6 million over the same quarter of 2008.
Net income posted a slight 1% increase, totalling $134 million for the
quarter, and total revenues advanced $20 million to reach $588 million.
Loan volumes at Personal and Commercial rose 8% between the third quarter
of 2008 and the third quarter of 2009. This growth was tempered by a
narrowing of the net interest margin, which was mainly due to smaller
spreads on deposits.

Total revenues at Personal Banking rose $11 million to total $396
million, mainly due to growth in fees collected on loan prepayments. Loan
and deposit volumes posted strong growth that was offset by a narrowing
of net interest margins. The reduced net interest margin on deposits was
partially offset by a wider net interest margin on credit cards. At
Commercial Banking, total revenues rose $9 million and were mostly
generated by greater financing activity among clients.

Operating expenses for Personal and Commercial amounted to $337 million
in the third quarter of 2009, up $14 million from the same quarter of
2008, mainly due to substantial investments in sales force improvements,
including branch hirings, deployments of new banking machines and the
introduction of smart cards. The efficiency ratio remained unchanged at
57% for the third quarter of 2009 compared to the same quarter of 2008.
The segment's provision for credit losses was up $7 million to total $54
million, mainly because of higher credit losses on personal loans and
credit card receivables, tempered by lower losses on credit granted to
enterprises.

For the first nine months of fiscal 2009, net income for the Personal and
Commercial segment stood at $392 million, a $10 million increase over the
$382 million in net income recorded during the same nine months in 2008.
Total revenues for the segment rose 3% to total $1,707 million, mainly
due to higher loan and deposit volumes. Total revenues at Personal
Banking grew $23 million or 2%. Total revenues at Commercial Banking rose
$23 million or 4%. The segment's provision for credit losses was $14
million higher than in the same nine-month period of 2008. This increase
was attributable to losses of $18 million on credit card receivables and
$9 million on personal loans, offset by a $13 million decrease in
Commercial Banking losses. The efficiency ratio for the first nine months
of 2009 was 58%, unchanged from the same nine-month period of 2008.

Wealth Management

Net income for the Wealth Management segment totalled $25 million in the
third quarter of 2009, down $6 million from $31 million in the same
quarter of 2008. Total revenues for the segment stood at $187 million, as
against $203 million in the third quarter of 2008. This decrease was due
to lower transaction volume, the narrower spread on deposits, and assets
under management and administration that remained lower than in the same
period of 2008. Operating expenses fell by $6 million to stand at $149
million in the third quarter of 2009, mainly due to a decrease in
variable compensation.

For the first nine months of fiscal 2009, net income for Wealth
Management totalled $89 million compared to $108 million in the same
period of 2008, for a decrease that is explained by the same factors
provided for the quarter. Total revenues stood at $566 million, as
against $621 million for the first nine months of 2008. Operating
expenses amounted to $435 million, a $19 million improvement when
compared to the $454 million in operating expenses recorded during the
first nine months of 2008.

Financial Markets

The Financial Markets segment posted net income of $167 million in the
third quarter of 2009, up $2 million from the same quarter of 2008. Total
revenues for the segment stood at $404 million compared to $362 million
in the third quarter of 2008. Including non-controlling interest, third
quarter revenues totalled $409 million compared to $391 million for the
same quarter of 2008. Trading activity revenues were $166 million for the
quarter, up $72 million from the third quarter of 2008, mainly due to
higher revenues from fixed-income securities. The $65 million decrease in
gains on available-for-sale securities reflects the gain recorded as a
result of the merger between the Montreal Exchange inc. and TSX Group
inc. recorded in the third quarter of 2008. Revenues from banking
services increased $22 million from the same quarter of 2008. The decline
in other revenues was partially due to a $25 million lower contribution
from Maple Financial Group Inc. Third quarter operating expenses stood at
$163 million, up $4 million from the year-earlier quarter due to the
increase in variable compensation. For the third quarter of 2009, the
segment recorded a provision for credit losses of $8 million, owing
primarily to certain manufacturing sector loans, whereas no charge had
been recorded in 2008.

For the first nine months of fiscal 2009, net income for the segment
totalled $363 million, up $44 million from the same period in 2008. Total
revenues stood at $1,018 million compared to $859 million for the first
nine months of 2008. Including non-controlling interest related to
trading activities, revenues from Financial Markets totalled $1,032
million, up $96 million from the same period of 2008. This increase
consisted mainly of higher trading activity revenues from fixed-income
securities and higher revenues from banking service, partially offset by
lower financial market fees, gains on securities as explained above, and
other revenues. Operating expenses stood at $502 million, up $18 million
when compared to the first nine months of fiscal 2008, due mainly to
variable compensation. For the first nine months of 2009, the segment
recorded a provision for credit losses of $18 million versus recoveries
of $2 million recorded in the same period of 2008.

Other

The Other heading of segment results posted a net loss of $23 million in
the third quarter of 2009 versus a net loss of $43 million in the same
quarter of 2008. Charges related to holding ABCP were negligible in the
third quarter of 2009, whereas the 2008 results included a $24 million
net loss related to ABCP. This loss consisted of a provision for credit
losses related to holding ABCP, an ABCP impairment charge, a gain on
economic hedge transactions, financing costs, and professional fees.
Excluding specified items, the third quarter net loss for the Other
heading was $22 million compared to a net loss of $19 million for the
third quarter of 2008. This difference was mainly attributable to the
significant increase in revenues from securitization activities and to
the decrease in technology expenses offset by the recovery of corporate
credit losses recorded in the third quarter of 2008. For the first nine
months of 2009, the net loss was $231 million compared to a net loss of
$103 million in the same period one year earlier. This was mainly due to
ABCP-related charges, including the cost of holding ABCP and the charge
related to commitments to extend credit to clients holding ABCP offset by
higher securitization revenues in 2009. Excluding specified items, the
net loss for the first nine months of fiscal 2009 was $26 million
compared to a $33 million net loss for the same period of 2008. Capital

Tier 1 and total capital ratios, according to the rules of the Bank for
International Settlements (BIS) - Basel II, stood at 10.5% and 14.1%,
respectively, as at July 31, 2009, compared to 9.4% and 13.2% as at
October 31, 2008. The increase in the capital ratios was attributable to
the issuance of two series of first preferred shares during the first
quarter of 2009 in an amount of $315 million, mitigated by the repurchase
of $250 million in subordinated debentures in the second quarter of 2009.
If these ratios had been calculated using the former BIS rules (Basel I),
they would have been 11.3% and 14.8%, respectively, as at July 31, 2009.

As at July 31, 2009, the risk-weighted assets calculated under the rules
of Basel II were stable and amounted to $58.3 billion compared to $58.1
billion as at October 31, 2008. Risk-weighted assets calculated under
Basel I would have been $56.3 billion as at July 31, 2009.

Financial Indicators

Results Results
excluding Results excluding
Results specified Nine months specified
Q3 2009 items(1) 2009 items(1)
-----------------------------------------------------------------------
Growth in diluted
earnings per share 3% 18% (17)% 10%
Return on common
shareholders' equity 22.1% 21.3% 15.2% 20.0%
Tier 1 capital ratio
under Basel II 10.5% 10.5%
Dividend payout ratio 63% 40%
-----------------------------------------------------------------------
-----------------------------------------------------------------------

(1) See "Financial reporting Method" on page 5.

HIGHLIGHTS

(unaudited)
(millions of dollars)
Quarter ended
-----------------------------------------------------------------------
July 31, 2009 July 31, 2008 % Change
-----------------------------------------------------------------------
Operating results
Total revenues $1,132 $1,057 7
Total revenues adjusted for
non-controlling interest(1) 1,137 1,086 5
Net income 303 286 6
Return on common shareholders'
equity 22.1% 23.7%
Per common share (dollars)
Earnings - basic $1.79 $1.73 3
Earnings - diluted 1.78 1.73 3
-----------------------------------------------------------------------

EXCLUDING SPECIFIED ITEMS(2)
Operating results
Total revenues $1,138 $981 16
Total revenues adjusted for
non-controlling interest(1) 1,143 1,010 13
Net income 304 253 20
Return on common shareholders'
equity 21.3% 20.9%
Per common share (dollars)
Earnings - basic $1.80 $1.52 18
Earnings - diluted 1.79 1.52 18
-----------------------------------------------------------------------

Per common share (dollars)
Dividends declared $0.62 $0.62
Book value
Stock trading range
High 58.11 54.63
Low 43.36 45.75
Close 58.11 50.00
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July 31, 2009
-----------------------------------------------------------------------
Financial position
Total assets $134,589
Loans and acceptances(3) 57,761
Deposits 76,236
Subordinated debentures and
shareholders' equity 8,333
Capital ratios - BIS
under Basel II
Tier 1 10.5%
Total 14.1%
Capital ratios - BIS
under Basel I
Tier 1 11.3%
Total 14.8%
Impaired loans, net of specific
and general allowances (114)
As a % of loans and acceptances (0.2)%
Assets under
administration/management 191,814
Total personal savings 103,568
Interest coverage 5.57
Asset coverage 4.21
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Other information
Number of employees 17,772
Number of branches in Canada 446
Number of banking machines 855
-----------------------------------------------------------------------
-----------------------------------------------------------------------

HIGHLIGHTS
(unaudited)
(millions of dollars)
Nine months ended
-----------------------------------------------------------------------
July 31, 2009 July 31, 2008 % Change
-----------------------------------------------------------------------
Operating results
Total revenues $3,039 $2,872 6
Total revenues adjusted for
non-controlling interest(1) 3,053 2,949 4
Net income 613 706 (13)
Return on common shareholders'
equity 15.2% 20.4%
Per common share (dollars)
Earnings - basic $3.56 $4.32 (18)
Earnings - diluted 3.55 4.30 (17)
-----------------------------------------------------------------------

EXCLUDING SPECIFIED ITEMS(2)
Operating results
Total revenues $3,216 $2,871 12
Total revenues adjusted for
non-controlling interest(1) 3,230 2,948 10
Net income 818 719 14
Return on common shareholders'
equity 20.0% 20.8%
Per common share (dollars)
Earnings - basic $4.84 $4.41 10
Earnings - diluted 4.83 4.39 10
-----------------------------------------------------------------------

Per common share (dollars)
Dividends declared $1.86 $1.86
Book value 32.51 29.44
Stock trading range
High 58.11 54.63
Low 25.62 44.39
Close 58.11 50.00
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October 31, 2008 % Change
-----------------------------------------------------------------------
Financial position
Total assets $129,332 4
Loans and acceptances(3) 56,015 3
Deposits 76,022 -
Subordinated debentures and
shareholders' equity 7,764 7
Capital ratios - BIS
under Basel II
Tier 1 9.4%
Total 13.2%
Capital ratios - BIS
under Basel I
Tier 1 10.1%
Total 14.1%
Impaired loans, net of specific
and general allowances (162)
As a % of loans and acceptances (0.3)%
Assets under
administration/management 204,998
Total personal savings 97,207
Interest coverage 5.21
Asset coverage 3.89
-----------------------------------------------------------------------

Other information
Number of employees 17,146 4
Number of branches in Canada 446 -
Number of banking machines 857 -
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-----------------------------------------------------------------------

(1) Adjusted for gains or losses mainly attributable to third parties using
the Innocap platform.
(2) See "Financial reporting Method" on page 5.
(3) Net of securitized assets

FINANCIAL REPORTING METHOD

The Bank uses certain measurements that do not comply with generally
accepted accounting principles (GAAP) to assess results. Securities
regulators require companies to caution readers that net income and any
other measurements adjusted using non-GAAP criteria are not standard
under GAAP and cannot be easily compared with similar measurements used
by other companies.

FINANCIAL INFORMATION
(unaudited)
(millions of dollars)

Notes Quarter ended
-----------------------------------------------------------------------
July 31, 2009 July 31, 2008 %
-----------------------------------------------------------------------
Personal and Commercial 134 133 1
Wealth Management 25 31 (19)
Financial Markets 167 165 1Other
(23) (43)
-----------------------------------------------------------------------
Net income 303 286 6
Plus: Charges related to
holding ABCP 1 1 9
Plus: Charge related to
commitments to extend
credit to clients
holding ABCP 2 - 15
-----------------------------------------------------------------------
Net income excluding the
impact of ABCP 304 310 (2)
Less: Gain on
available-for-sale
securities 3 - (57)
Less: Gain on the sale of
the Bank's subsidiary in
Nassau 4 - -
-----------------------------------------------------------------------
Net income excluding
specified items 304 253 20
-----------------------------------------------------------------------
-----------------------------------------------------------------------

Diluted earnings per common
share $1.78 $1.73 3
Plus: Charges related to
holding ABCP 1 0.01 0.06
Plus: Charge related to
commitments to extend
credit to clients
holding ABCP 2 - 0.09
-----------------------------------------------------------------------
Diluted earnings per common
share excluding the impact
of ABCP $1.79 $1.88 (5)
Less: Gain on
available-for-sale
securities 3 - (0.36)
Less: Gain on the sale of
the Bank's subsidiary in
Nassau 4 - -
-----------------------------------------------------------------------
Diluted earnings per common
share excluding specified
items $1.79 $1.52 18
-----------------------------------------------------------------------
-----------------------------------------------------------------------

Return on common
shareholders' equity
Including specified items 22.1% 23.7%
Excluding specified items 21.3% 20.9%
-----------------------------------------------------------------------
-----------------------------------------------------------------------

FINANCIAL INFORMATION
(unaudited)
(millions of dollars)

Nine months ended
-----------------------------------------------------------------------
July 31, 2009 July 31, 2008 %
-----------------------------------------------------------------------
Personal and Commercial 392 382 3
Wealth Management 89 108 (18)
Financial Markets 363 319 14
Other (231) (103)
-----------------------------------------------------------------------
Net income 613 706 (13)
Plus: Charges related to
holding ABCP 119 87
Plus: Charge related to
commitments to extend credit
to clients holding ABCP 86 15
-----------------------------------------------------------------------
Net income excluding the impact
of ABCP 818 808 1
Less: Gain on available-for-sale
securities - (57)
Less: Gain on the sale of the
Bank's subsidiary in Nassau - (32)
-----------------------------------------------------------------------
Net income excluding specified
items 818 719 14
-----------------------------------------------------------------------
-----------------------------------------------------------------------

Diluted earnings per common share $3.55 $4.30 (17)
Plus: Charges related to holding
ABCP 0.74 0.56
Plus: Charge related to
commitments to extend credit
to clients holding ABCP 0.54 0.09
-----------------------------------------------------------------------
Diluted earnings per common share
excluding the impact of ABCP $4.83 $4.95 (2)
Less: Gain on available-for-sale
securities - (0.36)
Less: Gain on the sale of the
Bank's subsidiary in Nassau - (0.20)
-----------------------------------------------------------------------
Diluted earnings per common share
excluding specified items $4.83 $4.39 10
-----------------------------------------------------------------------
-----------------------------------------------------------------------

Return on common shareholders'
equity
Including specified items 15.2% 20.4%
Excluding specified items 20.0% 20.8%
-----------------------------------------------------------------------
-----------------------------------------------------------------------

All amounts below, except Note (4), are presented net of income taxes:

(1) During the third quarter ended July 31, 2009, the $1 million cost
related to holding ABCP included a loss on economic hedge transactions,
ABCP financing costs, and a recovery of professional fees related to
the ABCP file. During the quarter ended July 31, 2008, the following
items were recognized with respect to ABCP: a $10 million gain on
economic hedge transactions, an $8 million loss on available-for-sale
securities, and $11 million in ABCP financing costs and professional
fees.
During the nine months ended July 31, 2009, the following items were
recognized related to holding ABCP: a $129 million loss on available-
for-sale securities related to ABCP (2008: $8 million), losses on
economic hedge transactions of $19 million (2008: $39 million), $41
million in interest received or receivable on ABCP held (2008: nil) and
ABCP financing costs and professional fees of $12 million (2008: $40
million).

(2) During the quarter ended July 31, 2008, a $15 million provision for
credit losses related to holding ABCP was recorded.
During the nine months ended July 31, 2009, an $86 million provision
for credit losses related to commitments to extend credit to clients
holding ABCP was recorded (2008: $15 million).

(3) During the quarter ended July 31, 2008, a $57 million gain on
available-for-sale securities was recorded as a result of the merger
between the Montreal Exchange Inc. and TSX Group Inc.

(4) During the nine months ended July 31, 2008, a net gain of $32 million
was recorded on the sale of the Bank's subsidiary in Nassau, Bahamas.

CAUTION REGARDING FORWARD-LOOKING STATEMENTS

From time to time, National Bank of Canada (the Bank) makes written and
oral forward-looking statements, such as those contained in the "Major
Economic Trends and Challenges" section and under the heading
"Medium-term objectives" in the "Overview" section of the 2008 Annual
Report, in other filings with Canadian securities regulators and in other
communications, for the purpose of describing the economic environment in
which the Bank will operate during fiscal 2009 and the objectives it has
set for itself for that period. All such statements are made pursuant to
the "safe harbour" provisions of Canadian and U.S. securities
legislation. These forward-looking statements include, among others,
statements with respect to the economy (particularly the Canadian and
U.S. economies), market changes, observations regarding the Bank's
objectives and its strategies for achieving them, Bank projected
financial returns and certain risks faced by the Bank. These
forward-looking statements are typically identified by future or
conditional verbs or words such as "outlook," "believe," "anticipate,"
"estimate," "project," "expect," "intend," "plan," and words and
expressions of similar import.

By their very nature, such forward-looking statements require assumptions
to be made and involve inherent risks and uncertainties, both general and
specific. Assumptions about the performance of the Canadian and U.S.
economies in 2009 and how that will affect the Bank's business are
material factors considered in setting the Bank's strategic priorities
and objectives and in determining its financial targets, including
provisions for credit losses. Given the current financial and credit
crisis, fiscal 2009 is characterized by an overall slowdown in the world
economy, although some signs of recovery have been observed, and this is
affecting the United States, Canada's largest trading partner. The
financial crisis may result in lower levels of activity on capital
markets and a higher cost of funds for financial institutions. There is a
strong possibility that personal and commercial bankruptcies could
increase in the coming quarters. In determining its expectations for
economic growth, both broadly and in the financial services sector, the
Bank primarily considers historical economic data provided by the
Canadian and U.S. governments and their agencies. Tax laws in the
countries in which the Bank operates, primarily Canada and the United
States, are major factors it considers when establishing its effective
tax rate.

There is significant risk that express or implied projections contained
in such statements will not materialize or will not be accurate. A number
of factors could cause actual future results, conditions, actions or
events to differ materially from the targets, expectations, estimates or
intentions expressed in the forward-looking statements. Such differences
may be caused by factors, many of which are beyond the Bank's control,
which include, but are not limited to, the management of credit, market
and liquidity risks; the strength of the Canadian and U.S. economies and
the economies of other countries in which the Bank conducts business; the
impact of the movement of the Canadian dollar relative to other
currencies, particularly the U.S. dollar; the effects of changes in
monetary policy, including changes in interest rate policies of the Bank
of Canada and the U.S. Federal Reserve; the effects of competition in the
markets in which the Bank operates; the impact of changes in the laws and
regulations regulating financial services and enforcement thereof
(including banking, insurance and securities); judicial proceedings,
regulatory proceedings or claims, class actions or other recourses of
various nature; the situation with respect to asset-backed commercial
paper (ABCP), in particular the realizable value of underlying assets;
the Bank's ability to obtain accurate and complete information from or on
behalf of its clients or counterparties; the Bank's ability to
successfully realign its organization, resources and processes; its
ability to complete strategic acquisitions and integrate them
successfully; changes in the accounting policies and methods the Bank
uses to report its financial condition, including uncertainties
associated with critical accounting assumptions and estimates; the Bank's
ability to recruit and retain key officers; operational risks, including
risks related to the Bank's reliance on third parties to provide
components of the Bank's business as well as other factors that may
affect future results, including changes in trade policies, timely
development of new products and services, changes in estimates relating
to reserves, changes in tax laws, technological changes, unexpected
changes in consumer spending and saving habits; natural disasters; the
possible impact on the business from public health emergencies,
conflicts, other international events and other developments, including
those relating to the war on terrorism; and the Bank's success in
anticipating and managing the foregoing risks. A substantial amount of
the Bank's business involves making loans or otherwise committing
resources to specific companies, industries or countries. Unforeseen
events affecting such borrowers, industries or countries could have a
material adverse effect on the Bank's financial results, businesses,
financial condition, or liquidity. The foregoing list of risk factors is
not exhaustive. Additional information about these factors can be found
under "Risk Management" and "Factors That Could Affect Future Results" in
the 2008 Annual Report. Investors and others who base themselves on the
Bank's forward-looking statements should carefully consider the above
factors as well as the uncertainties they represent and the risk they
entail. The Bank also cautions readers not to place undue reliance on
these forward-looking statements. Except as required by law, the Bank
does not undertake to update any forward-looking statements, whether
written or oral, that may be made from time to time, by it or on its
behalf.

The forward-looking information contained in this document is presented
for the purpose of interpreting the information contained herein and may
not be appropriate for other purposes.

Disclosure of Third Quarter 2009 Results

Conference Call

- A conference call for analysts and institutional investors will be held
on August 27, 2009 at 1:30 p.m. EDT.

- Access by telephone in listen-only mode: 1-866-862-3908 or 416-641-6130.

- A recording of the conference call can be heard until September 3, 2009
by calling 1-800-408-3053 or 416-695-5800. The access code is 6733150#.

Webcast

- The conference call will be webcast live at
www.nbc.ca/investorrelations.

- A recording of the webcast will also be available on the Internet after
the call.

Financial Documents

- The quarterly financial statements are available at all times on
National Bank's website at www.nbc.ca/investorrelations.

- The Report to Shareholders, Supplementary Financial Information and a
slide presentation will be available on the Investor Relations page of
National Bank's website shortly before the start of the conference call.

Contacts:
National Bank Financial Group
Patricia Curadeau-Grou
Chief Financial Officer and Executive Vice-President
Finance, Risk and Treasury
514-394-6619

National Bank Financial Group
Jean Dagenais
Senior Vice-President Finance, Taxation and
Investor Relations
514-394-6233

National Bank Financial Group
Denis Dube
Senior Director
Public Relations
514-394-8644

National Bank Financial Group
Helene Baril
Senior Director
Investor Relations
514-394-0296

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