BNS Split Corp. II Announces Partial Call for Redemption

    TORONTO, Sept. 8 /CNW/ - BNS Split Corp. II (the "Company") announced
today that it has called 293,090 Preferred Shares for cash redemption on
September 22, 2008 (in accordance with the Company's Articles) as a result of
the special annual retraction of 1,033,050 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 19, 2008 will have
approximately 12.294% 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 dividends 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 22,
    Payment of the amount due to holders of Preferred Shares will  be  made 
by  the  Company  on September 22, 2008. From and after September 22, 2008 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, (416)
863-7301, E-mail:, Web site:

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