New deposit note by Scotiabank and CI Investments offers double the exposure with principal protection


    TORONTO, June 2 /CNW/ - CI Investments Inc. ("CI") today announced the
launch of The Bank of Nova Scotia - CI 2X(TM) Deposit Notes, Series 1, which
allow investors to benefit from double the exposure to a diverse portfolio of
equity and income securities, while still enjoying the peace of mind of
principal protection.
    The Notes, issued by The Bank of Nova Scotia, offer a return linked to
the performance of Signature Income & Growth Fund, an income balanced fund
from CI that uses active asset allocation to capitalize on changing market
conditions. The Notes' innovative strategy ensures that they have continuous
200% exposure to the fund throughout their 6.5-year life. The fund's
distributions are automatically reinvested into the Note structure to maximize
tax-deferred growth, while the principal amount is 100% guaranteed by
Scotiabank if held to maturity.
    "The Notes are designed for investors who want to magnify the impact of
their investments, while preserving their hard-earned capital," said David R.
McBain, CI Senior Vice-President. "The Notes' structure maximizes performance
potential with 200% exposure to the fund at all times regardless of fund
performance, while controlling risk through principal protection and the
fund's broad diversification."
    Signature Income & Growth Fund has a strong track record, placing in the
first quartile of its category over one, three and five years, and holding the
top five-star ranking from Morningstar Canada, as of April 30, 2008 (Source:
Morningstar Canada).
    The fund's portfolio is managed by Signature Global Advisors, a division
of CI Investments, and invests in a broad range of asset classes, including
government and corporate bonds, income trusts, preferred shares and
dividend-paying common stocks. This diversification reduces risk and gives the
managers more flexibility to respond to changing market conditions, so that
they can take advantage of new opportunities as well as preserve capital. The
lead portfolio managers are Eric Bushell, Signature's Chief Investment
Officer, and James Dutkiewicz.
    The Bank of Nova Scotia - CI 2X Deposit Notes, Series 1, are available
for sale until July 31, 2008, through registered dealer representatives, and
are eligible for registered plans. The minimum purchase is $5,000. A complete
description of the Notes can be found in the Information Statement describing
the issue.
    The Notes have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "1933 Act"), or under any state
securities laws and, subject to certain exemptions, may not be offered for
sale, sold or delivered, directly or indirectly, in the United States, its
territories or possessions to or for the account or benefit of U.S. persons
within the meaning of regulations under the 1933 Act. No securities commission
or similar authority has reviewed or in any way passed on the Notes described
and any representation to the contrary is an offence.

    About Bank of Nova Scotia

    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 12.5 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 $453 billion in assets (as at April 30, 2008), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit

    About CI Investments

    CI Investments Inc. is one of Canada's largest investment fund companies
with over $56 billion in assets under management. CI offers a broad range of
investment products and services, including an industry-leading selection of
investment funds, and is on the Web at CI is controlled by CI
Financial Income Fund (TSX: CIX.UN), an independent, Canadian-owned wealth
management firm with $105.1 billion in fee-earning assets as of May 31, 2008.

For further information:

For further information: David R. McBain, Senior Vice-President, CI
Investments Inc., (416) 364-1145

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