Scotiabank Renames Subsidiary of Automotive Financing Division



    TORONTO, Feb. 20 /CNW/ - Scotiabank today announced the renaming of
Travelers Leasing Corporation (TLC), a leading Canadian automobile specialized
financing company it acquired from Travelers Financial Group in February of
2007. The wholly-owned subsidiary has been renamed Scotia Dealer Advantage
Inc.
    "The renaming and rebranding of TLC to Scotia Dealer Advantage brings the
subsidiary into the Scotiabank family of brands and provides the industry's
best range of dealer financing products and high quality service for our
dealership customers," said Ron Porter, Senior Vice-President, Automotive
Finance and Indirect Lending. "Scotia Dealer Advantage demonstrates our strong
commitment to finding opportunities to provide a full suite of consumer
financing products to drive revenue growth both for our dealership customers
and Scotiabank Dealer Finance."
    With over 60 years in the dealer finance business in Canada and a
dedicated national dealer finance sales network, Scotiabank announced its
acquisition of TLC from Travelers Financial Group in November of 2006, and
completed the acquisition in February of 2007.

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 60,000 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 $412 billion in assets (as at October 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: Frank Switzer, Scotiabank, at (416) 866-7238,
or frank_switzer@scotiacapital.com


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