LAURENTIAN BANK ANNOUNCES THE PUBLICATION OF ITS PROXY CIRCULAR

MONTREAL, Feb. 14 /CNW Telbec/ - Laurentian Bank of Canada (LB:TO) announced today the publication and distribution of its annual meeting of shareholders notice and management proxy circular. This document is available on SEDAR, as well as in the Investor Relations section of the Bank's Web site.

The annual meeting of Laurentian Bank shareholders will be held on March 15, 2011 in Montréal. The circular contains all the information necessary for shareholders to be able to exercise their voting rights.

Executive Compensation

In accordance with regulations, the circular provides a complete review of the compensation programs offered to the Bank's executive officers. In addition, it outlines the objectives sanctioned by the Board of Directors in the area of executive officer compensation, which are aimed at continuously promoting the alignment of the interests of executive officers with those of shareholders through compensation plans and assuring transparency with respect to executive compensation management.

Again this year, a significant portion of executive officer compensation is related to the organization's future performance vis-à-vis objectives pre-established by the Board of Directors. For example, 50% of their annual bonus awarded under the short-term compensation program must be converted into restricted share units that cannot be redeemed before their three-year due date. These share units are tied to the Bank's share price such that officers benefit from any increase and are also impacted by any decrease in the same way as shareholders are.

In addition, it is important to note that, for the period between November 1, 2005 and October 31, 2010, the cumulative performance of Laurentian Bank shares increased by 74% and net diluted earnings per share by 87%, while total direct compensation grew by 50%.

Election of Directors

Laurentian Bank shareholders are being invited to vote on the election of 13 candidates for a directorship position. Twelve of the candidates are currently members of the Board, while Mr. Pierre Anctil is a candidate for the first time. The 13 candidates are:

  • Pierre Anctil, President and CEO, Fiera Axium Infrastructure Inc.
  • Lise Bastarache, Economist and Corporate Director
  • Jean Bazin, C.R., Counsel with Fraser Milner Casgrain LLP
  • Richard Bélanger, FCA, President, Toryvel Group Inc.
  • Ève-Lyne Biron, President and General Manager, Biron Health Group Inc.
  • Isabelle Courville, President, Hydro-Québec TransÉnergie
  • L. Denis Desautels, O.C., FCA, Chartered Accountant and Corporate Director
  • Pierre Genest, Chairman of the Board, SSQ Life Insurance Company Inc.
  • Michel Labonté, Corporate Director
  • Jacqueline C. Orange, Corporate Director
  • Marie-France Poulin, Vice-President, Camada Group Inc.
  • Réjean Robitaille, President and CEO, Laurentian Bank
  • Jonathan I. Wener, C.M., Chairman of the Board, Canderel Management Inc.

About Laurentian Bank
Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Differentiating itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.

Laurentian Bank is well established in the Province of Quebec, operating the third-largest retail branch network. Elsewhere throughout Canada, it operates in specific market segments where it holds an enviable position. Laurentian Bank of Canada has more than $22 billion in balance sheet assets and more than $14 billion in assets under administration. Founded in 1846, the Bank employs more than 3,500 people.

SOURCE LAURENTIAN BANK OF CANADA

For further information:

Gladys Caron
Vice-President
Public Affairs, Communications and Investor Relations
514 284-4500, extension 7511
gladys.caron@banquelaurentienne.ca

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LAURENTIAN BANK OF CANADA

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