Women in Capital Markets Recognizes Sarah B. Kavanagh for Leadership

    - The 2008 WCM Award for Leadership Presented at Gala Event in Toronto -

    TORONTO, March 5 /CNW/ - Women in Capital Markets (WCM), a non-profit
organization that promotes the advancement of women in the Canadian financial
industry, announced today that Sarah B. Kavanagh, Managing Director, Head of
Equity Capital Markets at Scotia Capital, is the winner of the 2008 WCM Award
for Leadership. This award is in recognition of her significant role in
promoting and advancing women in capital markets and was presented at the
Vinifera Awards Gala, a sold-out fundraising event held at the Carlu.
    "Sarah has championed the vision and objectives of WCM both at her firm
and in the community as a whole," said Ruth Woods, Chief Administrative
Officer, Osler, Hoskin & Harcourt LLP and Chair of the award selection panel.
"As Co-Chair of her firm's Advancement of Women Committee and an active member
of Scotiabank's Advancement of Women Steering Committee, Sarah plays an
important role in supporting and advancing the careers of women. She also
demonstrates an outstanding personal commitment through ongoing mentoring
activities, proactive efforts speaking at campuses, WCM and networking events,
and encouraging women across Canada to join the capital markets business."
    "The WCM Leadership Award winner exemplifies the same qualities that our
organization aims to promote - leadership, mentorship and social
responsibility," said Maureen Stapleton, President of Women in Capital
    The WCM Award for Leadership is awarded annually and is sponsored by
Gowling Lafleur Henderson LLP and Ernst & Young LLP.

    Sarah B. Kavanagh is a Managing Director and Head of Equity Capital
Markets at Scotia Capital Inc. where she is responsible for the group of
professionals covering major Canadian corporations across all industries and
products with an emphasis on equity transaction pricing and execution. Prior
to assuming this position, she was head of Investment Banking. In 2007,
Scotiabank won the prestigious Catalyst Award for its outstanding initiatives
that result in advancement of women in the workplace.

    WCM is a non-profit organization that aims to support and advance women
leaders in business, foster accountability for diversity in the industry, and
recognize leaders who have contributed significantly to the advancement of
women in the capital markets industry. www.wcm.ca

    Gowling Lafleur Henderson LLP is one of Canada's largest full service law
firms with more than 700 professionals in eight Canadian offices and in
Moscow. www.gowlings.com

    Ernst & Young LLP is a global leader in assurance, tax, transactions and
advisory services. We strive to create an inclusive environment where all our
people can achieve their potential. www.ey.com/ca

For further information:

For further information: Kerry Breeze, (416) 829-1727,

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