BNS Split Corp. II Announces Partial Call for Redemption



    TORONTO, Sept. 7 /CNW/ - BNS Split Corp. II (the "Company") announced
today that it has called 192,141 Preferred Shares for cash redemption on
September 21, 2007 (in accordance with the Company's Articles) as a result of
the special annual retraction of 1,296,280 Capital Shares by the holders
thereof. The Preferred Shares shall be redeemed on a pro rata basis, so that
each holder of Preferred Shares of record on September 20, 2007 will have
approximately 6.863% of their Preferred Shares redeemed. The redemption price
for the Preferred Shares will be $20.83 per share.
    Holders of Preferred Shares that are on record for the dividend but have
been called for redemption will be entitled to receive dividends thereon which
have been declared but remain unpaid up to but not including September 21,
2007.
    Payment of the amount due to holders of Preferred Shares will be made by
the Company on September 21, 2007. From and after September 21, 2007 the
holders of Preferred Shares that have been called for redemption will not be
entitled to dividends or to exercise any right in respect of such shares
except to receive the amount due on redemption.

    BNS Split Corp. II is a mutual fund corporation whose principal
undertaking is to invest in common shares of The Bank of Nova Scotia. Capital
Shares and Preferred Shares of BNS Split Corp. II are listed for trading on
The Toronto Stock Exchange under the symbols BSC and BSC.PR.A respectively.

    %SEDAR: 00022519E




For further information:

For further information: Investor Relations, BNS Split Corp. II, Tel:
(416) 863-7301, Fax: (416) 863-7425, E-mail: mc_bnssplit2@scotiacapital.com,
Web site: www.scotiamanagedcompanies.com


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