Date Closed

March 27, 2008

Lead Office

Toronto

Value

345.00 Million CAD

On March 25, 2008, The Bank of Nova Scotia completed a domestic public offering of 12 million non-cumulative 5-year rate reset preferred shares Series 18 (the "Preferred Shares Series 18") at a price of C$25.00 per share, for gross proceeds of C$300 million. The Bank sold the Preferred Shares Series 18 to a syndicate of underwriters led by Scotia Capital Inc. on a bought deal basis. On March 27, 2008, the underwriters fully exercised an over-allotment option to purchase an additional 1.8 million of Preferred Shares Series 18 at a price of C$25.00 per share, resulting in aggregate gross proceeds from the offering of C$345 million.

McCarthy  Tétrault LLP advised Scotiabank with a team led by Barry Ryan.