Scotiabank Announces Redemption of 6.00% Debentures due October 3, 2018

Note to Editors: Not for dissemination or distribution in the United States

TORONTO, Aug. 28, 2013 /CNW/ - Scotiabank (BNS: TSX, NYSE) today announced that the Bank, intends to redeem all outstanding 6.00 % debentures due October 3, 2018 for 100% of their principal amount plus accrued interest to the redemption date. The redemption will occur on October 3, 2013. Formal notice will be delivered to the debenture holders in accordance with the terms and conditions of the trust indenture.

The redemption has been approved by the Office of the Superintendent of Financial Institutions and will be financed out of the general funds of Scotiabank.

Scotiabank is a leading multinational financial services provider and Canada's most international bank. With more than 83,000 employees, Scotiabank and its affiliates serve some 21 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. In December 2012, Scotiabank became the first Canadian bank to be named Global Bank of the Year and Bank of the Year in the Americas by The Banker magazine, a Financial Times publication. With assets of $743 billion (as at July 31, 2013), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

SOURCE: Scotiabank