Scotiabank Names New Group Treasurer

    TORONTO, March 3 /CNW/ - Jeff Heath has been appointed Executive Vice
President and Group Treasurer, Scotiabank announced today.
    Mr. Heath, a chartered accountant, is currently the Senior Vice-President
and Head, Risk Policy and Capital Markets. In his new role, he will be
responsible for managing the Scotiabank Group's treasury and investment
operations on a global basis, including the Bank's public and private
investment portfolios, medium-term and capital funding, and overall asset and
liability management. Mr. Heath joined ScotiaMcLeod as Treasurer in 1985 and
has held progressively more senior positions within risk management.
    "Jeff Heath's level of expertise and experience - both within Scotiabank
and through his service on industry committees through the Canadian Bankers
Association and the Investment Dealers Association - will complement our
strong team in Group Treasury," said Rick Waugh, President and CEO. "His
appointment also demonstrates the bench strength within our management ranks."
    Mr. Heath will be assuming responsibility for the group treasury function
from Vice-Chairman Bob Brooks, who has announced plans to retire at the end of
the fiscal year after more than 40 years of service to the Bank. Mr. Heath
will report to Mr. Brooks until Mr. Brooks' retirement.
    "Bob Brooks has been an integral part of our success and, during the
transition period, he will continue to play an important leadership role both
for the Scotiabank Group and his team," Mr. Waugh said. "I truly appreciate
his contribution, and I know that I speak for all Scotiabankers in wishing him
all the best in his retirement."

    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 $412 billion in assets (as at October 31, 2007), Scotiabank trades on the
Toronto (BNS) and New York Exchanges (BNS). For more information please visit

For further information:

For further information: Ann DeRabbie, Scotiabank, (416) 933-1344

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