BNS Split Corp. II Declares Quarterly Dividends

    TORONTO, Sept. 9 /CNW/ - The Board of Directors of BNS Split Corp. II
(the "Company") has declared today dividends of $0.2214 per Preferred Share
and $0.1150 per Capital Share, payable on September 22, 2009 to holders of
record at the close of business on September 21, 2009.
    Holders of Preferred Shares are entitled to receive quarterly fixed
cumulative distributions equal to $0.2214 per Preferred Share. The Company's
Capital Share dividend policy is to pay holders of Capital Shares quarterly
dividends only if the net asset value per Unit at the time of dividend
declaration, after giving effect to the dividend, would be greater than the
original issue price of the Preferred Shares. Providing this criteria is met,
the Company's policy is to pay holders of Capital Shares quarterly dividends
in an amount equal to the dividends received by the Company on the BNS Shares
minus the dividends payable on the Preferred Shares and all administrative and
operating expenses.

    BNS Split Corp. II is a mutual fund corporation created to hold a
portfolio of 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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