Scotiabank Changes Mortgage Rates

    TORONTO, June 2 /CNW/ - Scotiabank announced today the following changes
in the Bank's posted residential mortgage interest rates, effective June 3,

    - one-year closed         4.75 per cent     (decreases by 0.15 per cent)
    - five-year closed        5.45 per cent     (increases by 0.20 per cent)

    Scotiabank offers the following special discounted rates(*) on residential

    - one-year fixed closed   2.75 per cent     (decreases by 0.15 per cent)
    - five-year fixed closed  4.15 per cent     (increases by 0.20 per cent)
    - 10-year fixed closed    5.25 per cent     (no change)

    (*) The special discounted rates are not the posted rates of Scotiabank.
        Rates are subject to change without notice. Offers may be withdrawn
        or extended without notice and cannot be combined with any other rate
        discounts, offers, or promotions. Mortgage funds must be advanced
        within 120 days of the application date. Other conditions may apply.

For further information:

For further information: Joe Konecny, Public Affairs, at (416) 933-1795,

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