Scotia Capital Receives Best FX Bank in Canada Award - Five Years in a Row



    TORONTO, Jan. 8 /CNW/ - Scotia Capital has been honoured by Global
Finance magazine, for the fifth year in a row, as Best Foreign Exchange Bank
in Canada. The annual award recognizes the best foreign exchange banks in 82
countries and regions around the world.
    "Receiving this award for the fifth straight year is a testament to the
expertise and commitment of the entire foreign exchange team to provide
top-quality client service," said Barry Wainstein, Vice-Chairman and Global
Head of Foreign Exchange and Precious Metals, Scotia Capital. "We are very
proud and pleased to be honoured once again by Global Finance Magazine."
    Global Finance selected winners on the basis of transaction volume,
market share, scope of global coverage, customer service, competitive pricing
and innovative technologies.
    We have identified the banks that large global companies can rely on for
their FX needs," said Joseph D. Giarraputo, publisher and president of Global
Finance. "We selected Scotia Capital as the leading provider of foreign
exchange services in Canada for the fifth year in a row because it has shown
the consistency and high levels of service that Canadian companies can rely on
in their global business dealings."
    Global Finance also named Scotiabank Best FX Bank for 2009 in Costa Rica,
Jamaica, and Peru.
    The Global Finance rating measures commitment to the foreign exchange
business, using number and size of trading desks, investment in technology, as
well as product range and liquidity. Global Finance considers: structuring
transactions skills; advice on market positioning and hedging; and efficient
execution of trades, including forwards, futures, swaps and options. Financial
soundness, profitability and the ability to handle large transactions without
moving the market are also taken into account.
    In 2008, Scotia Capital's Foreign Exchange team had a record year in
terms of both performance and recognition by industry experts. In addition to
the Global Finance ranking, it also ranked No.1 on the Overall Quality Index
of a prestigious independent third party survey of foreign exchange services
in Canada.
    As a member of the Scotiabank Group, Scotia Capital offers corporate and
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. Scotia Capital
has 28 offices and more than 300 relationship managers organized around
industry specialties.

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 69,000 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 $508 billion in assets (as at October 31, 2008), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
www.scotiafx.com or www.scotiabank.com.





For further information:

For further information: Paula Cufre, Scotiabank Public Affairs, (416)
933-1093


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