Scotiabank Announces Dividend on Common Shares



    TORONTO, Aug. 28 /CNW/ - Scotiabank today announced a dividend of
45 cents per common share for the quarter ending October 31, 2007, payable on
October 29, 2007, to shareholders of record at the close of business on
October 2, 2007.
    The Bank also declared the following dividends on Non-Cumulative
Preferred Shares for the quarter ending October 31, 2007, payable on
October 29, 2007, to shareholders of record at the close of business on
October 2, 2007:

    
    -  Series 12, Dividend No. 37   of    $0.328125    per share;
    -  Series 13, Dividend No. 10   of    $0.30        per share;
    -  Series 14, Dividend No. 3    of    $0.28125     per share;
    -  Series 15, Dividend No. 2    of    $0.28125     per share.
    

    Holders may elect to receive their dividends in common shares of the Bank
in lieu of cash dividends, in accordance with the Bank's Shareholder Dividend
and Share Purchase Plan.

    %SEDAR: 00001289EF          %CIK: 0000009631




For further information:

For further information: Kevin Harraher, Vice-President, Investor
Relations, (416) 866-5982; Paula Cufre, Scotiabank Public Affairs, (416)
933-1093


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