Scotiabank applauds ICC Cricket World Cup



    Successful CWC 2007 spotlights West Indies, celebrates regional culture
    and delivers economic punch

    TORONTO, April 27 /CNW/ - With the clock ticking down to the exciting
final match in Barbados, Scotiabank, a Regional Official Sponsor for the ICC
Cricket World Cup West Indies 2007 (CWC 2007), declared the 7-week event a
great success and congratulated ICC officials, local organizing committees,
volunteers and everyone involved for delivering a truly world-class showcase
of cricket talent.
    "The challenge of staging the region's first global event - the third
largest sporting event in the world - has been a massive undertaking,"
observed Rob Pitfield, Scotiabank's Executive Vice-President, International
Banking. "We are impressed with the incredible hard work by so many people,
including the great welcome and enthusiasm of West Indians, to share their
Caribbean spirit and can-do attitude as they execute a multi-week,
multinational event."
    Scotiabank is proud to be a Regional Official Sponsor of the ICC Cricket
World Cup West Indies 2007, a sponsorship which builds on Scotiabank's
longstanding commitment to cricket in the West Indies. Scotiabank has been
actively involved in promoting cricket for many years. In a joint effort with
the WICB in 2000, Scotiabank launched Scotiabank Kiddy Cricket to help pass
along the skills and passion for cricket among West Indies children. Through
this program, primary school youth receive equipment and instruction in
addition to training for teachers to coach the basics of the game. Since 2000,
Scotiabank has introduced Kiddy Cricket to 14 countries throughout the
Caribbean, and given more than 20,000 children an opportunity to participate
in the program.

    CWC 2007 bowls a clear economic boost

    Earlier in the week, Scotia Economics, the economics division of
Scotiabank, reported that the economic activity triggered by the global
sporting event will take the Caribbean economy in the right direction for the
future. The study noted that public and private sector spending leading up to
the event provided a major boost for the West Indies economies.
    Scotia Economics reported that the region's economy has been fuelled by
CWC 2007 preparations for the past few years, including hotel and facility
construction and that the Caribbean regional economy is expected to grow by
more than 8 per cent in 2007, compared with a 5 per cent growth rate in 2006.
Preparations also heightened demand for goods and services and resulted in
strong foreign currency inflows that have helped balance national current
accounts and stabilize individual Caribbean currencies.

    CWC 2007 helps preserve distinct island culture

    In addition to CWC 2007 serving as a launching point for future Caribbean
growth and development, Pitfield also noted that the event has been the
perfect way to reinforce the West Indies' distinct culture and heritage,
including its passion for cricket.
    "As parts of the world, like the Caribbean, change with globalization,
trade, technologies and communication, it's essential to preserve and
celebrate the spirit, history and roots that make the Caribbean so special,"
noted Pitfield. "We hope that through CWC 2007, island residents of all ages
will gain a greater appreciation of, and continue to take pride in, a
wonderful sporting tradition that has united people across the region
throughout their history."
    Scotiabank has been part of the Caribbean and Central America since 1889.
It is now the leading bank in the region, with operations in 25 countries. The
Bank has some 10,260 employees in the region, serving more than two million
customers, with about 348 branches and about 777 automated banking machines.

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With close to 57,000 employees, Scotiabank
Group and its affiliates serve approximately 12 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 $396 billion in assets (as at January 31, 2007), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit
www.scotiabank.com.





For further information:

For further information: Livy Feldgajer, Scotiabank Public Affairs,
(416) 866-6203, or livy_feldgajer@scotiacapital.com


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