Scotia Capital and Oriel Securities announce investment banking alliance



    TORONTO, June 4 /CNW/ - Scotia Capital Inc., the investment banking
division of Scotiabank, and Oriel Securities Limited, an independent corporate
and institutional stock broking and advisory company based in the United
Kingdom, are today pleased to announce that they have entered into a strategic
alliance in investment banking.
    Scotia Capital and Oriel Securities will work together to assist
companies looking to access equity capital markets in Canada, the United
States and the United Kingdom through initial public offerings and follow-on
fundraising on the TSX, the London Stock Exchange, AIM, the New York Stock
Exchange and other exchanges.
    The combined strengths and experience of Scotia Capital and Oriel
Securities will ensure that companies seeking to raise equity capital receive
superior advice and execution across the Canadian, UK and US markets. While
both Scotia Capital and Oriel Securities advise companies across all sectors,
the alliance will be of particular benefit to Oil & Gas, Energy and Mining
companies seeking to gain access to investors or improve their trading
liquidity.
    There are currently over 50 companies with a total combined market
capitalization of over $80 billion listed on both the TSX and the LSE or AIM.
In addition, in the Oil & Gas and Mining sectors there are over
2,200 companies listed on the TSX, LSE and AIM with a total combined market
capitalization of over $2.4 trillion.
    "We are pleased to have found a partner that will assist us in expanding
the level of service we can provide to our North American and international
clients looking to access the UK equity markets," said Philip Smith, Managing
Director at Scotia Capital Inc. and Head, Corporate and Investment Banking.
"Oriel Securities is a trusted name in offering high quality corporate broking
and advisory services and we are proud to be joining forces with them."
    Simon Bragg, Chief Executive of Oriel Securities, added: "We are
delighted to be partnering with such a highly regarded international
investment bank as Scotia Capital. We believe that London will continue to be
a very attractive market for international companies and we look forward to
expanding our service to clients and working with Scotia Capital to develop
both our businesses."

    About Scotia Capital:

    A subsidiary of Scotiabank, Scotia Capital offers lending, investment
banking and capital markets products to corporate, government and
institutional clients. It provides full-service coverage across the NAFTA
region, as well as a niche focus in select markets globally, through two
divisions: Global Capital Markets and Global Corporate and Investment Banking.
Scotia Capital has 18 offices and more than 300 relationship managers
organized around industry specialties.

    About Scotiabank:

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 65,000 employees, Scotiabank
Group and its affiliates serve approximately 12.5 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 $453 billion in assets (as at April 30, 2008), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
www.scotiabank.com.

    About Oriel Securities:

    Oriel Securities is an independent corporate and institutional
stockbroking and advisory business with outstanding knowledge and reach in the
UK market. Majority owned by its employees, Oriel is committed to providing
superior, independent advice to its clients, helping them to make informed and
successful decisions. Further information on Oriel Securities can be found at
www.orielsecurities.com.





For further information:

For further information: Scotia Capital, Philip Smith, Managing
Director, (416) 863-2866; Frank Switzer, Scotiabank Public Affairs, (416)
866-7238, frank.switzer@scotiacapital.com; Oriel Securities, Simon Bragg,
Chief Executive, +44 207 710 7600; Powerscourt, Rory Godson, Samantha Dumas,
+44 207 250 1446


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