National Bank Declares Dividends

MONTREAL, QUEBEC, Aug 27 (MARKET WIRE) --
National Bank of Canada's (the "Bank") (TSX: NA) Board of Directors (the
"Board") declared today a dividend of $0.62 per common share for the
quarter ending October 31, 2009, payable November 1, 2009 to common
shareholders of record on September 24, 2009.

The Board also declared quarterly dividends on series of first preferred
shares, payable on November 15, 2009 to shareholders of record on October
9, 2009.

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Series Ticker symbol Dividend Dividends
(all listed on TSX) number per share
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15 NA.PR.K No. 26 $0.365625
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16 NA.PR.L No. 18 $0.303125
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20 NA.PR.M No. 6 $0.375
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21 NA.PR.N No. 5 $0.33594
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24 NA.PR.O No. 3 $0.4125
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26 NA.PR.P No. 3 $0.4125
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The above mentioned dividends on the common and preferred shares are
designated as eligible dividends for the purposes of the Income Tax Act
(Canada) and any similar applicable provincial legislation.

At no cost, Canadian shareholders may elect to reinvest their dividends
in common shares in lieu of cash dividends in accordance with National
Bank's Dividend Reinvestment and Share Purchase Plan. At this time, the
Plan features a 2% discount on the average share purchase price for
common shares until the Board elects otherwise. For the previous
quarterly dividend payment dated as of August 1 2009, the average
discounted purchase price was at $55.72.

For more information, please contact Computershare Trust Company of
Canada at 1-888-838-1407. Beneficial or non-registered shareholders must
contact their financial institution or broker for instructions on how to
participate to such Plan.

About National Bank of Canada

National Bank of Canada, which is celebrating its 150th anniversary in
2009, is an integrated group that 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 close to $135 billion in assets and, together with its
subsidiaries, employs 17,772 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 Financial Group
Denis Dube
Senior Manager, Public Relations Department
514-394-8644

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

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