TORONTO and PORTLAND, OR, April 25 /PRNewswire-FirstCall/ -- Scotiabank's Global Transaction Banking unit today announced the launch of the Wholesale Investment Account and Commercial Card program as part of its services in the United States. These services will be delivered to clients of Scotia Capital, the Scotiabank Group's global corporate and investment banking division. The Wholesale Investment Account, a money market deposit account (MMDA), is a high-yield savings account that incurs no fund management fees or administrative expenses. The Wholesale Investment Account is targeted to business clients with US $20-million or more in deposits, who invest their funds for periods of at least 30-days. The account will offer a competitive return on surplus cash and will maximize short term investment yields while balancing security, liquidity and convenience. "The Wholesale Investment Account is an innovative addition to Scotiabank's suite of financial solutions available to clients in the U.S.," said Steve McDonald, Co-Chairman and Co-CEO, Scotia Capital, and Head, Global Corporate and Investment Banking. "This is the first in a series of business banking products that will be introduced over the coming year to meet the needs of our American and international business clients." In addition to new investment options, Visa U.S.A. Inc. has recently given Scotiabank approval to offer its successful Commercial Card expense management program to both U.S.-based multinational clients and domestic-only U.S. corporate accounts. "Clients who operate in multiple countries require flexible and convenient banking services that provide global solutions," said McDonald. "Both of these new services will significantly enhance the Bank's business banking offerings in the U.S. and represent a significant opportunity to generate new revenue by fully leveraging the international capabilities of the Scotiabank Group." Global Transaction Banking brings together Scotiabank's capabilities in cash management, payments, trade finance, and investments. This offering, in combination with Scotia Capital's foreign exchange services, provides comprehensive, integrated business banking solutions to multinational clients who operate in local and global markets. Scotia Capital, the Scotiabank Group's global corporate and investment banking division, has been operating in the U.S. for over a century. With offices in New York, Chicago, Atlanta, Houston, San Francisco, and Portland, it provides corporate and investment banking and global capital markets solutions to U.S. corporate and institutional clients in a host of industry groups, and is among the top global firms in the U.S. syndicated lending market. Scotia Capital Relationship Managers have long worked with Scotiabank's Global Transaction Banking unit to bring advanced business solutions to their client base. For more information visit http://www.scotiacapital.com/. Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 50,000 employees, Scotiabank Group and its affiliates serve about 10 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 $325 billion in assets (as at January 31, 2006), Scotiabank trades on the Toronto (BNS) and New York (BNS) Stock Exchanges. For more information please visit http://www.scotiabank.com/. DATASOURCE: Scotiabank CONTACT: Matthew Coorsh, Scotiabank Public Affairs, (416) 933-1344,

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