LAURENTIAN BANK OF CANADA ANNOUNCES ISSUE OF MEDIUM TERM NOTES

MONTREAL, Oct. 25 /CNW Telbec/ - Laurentian Bank of Canada (LB: TSX) announced today the issuance in Canada of $250,000,000 million principal amount of 2010-1 3.70% Medium Term Notes (subordinated indebtedness) due November 2, 2020 under its Medium Term Note Program.

The 2010-1 Medium Term Notes will bear interest at a fixed rate of 3.70% per annum (paid semi-annually) until November 2, 2015, and, thereafter, at the three-month bankers' acceptance rate plus 1.76% per annum (paid quarterly) until maturity on November 2, 2020, unless redeemed by Laurentian Bank.

Laurentian Bank may, at its option, with the prior approval of the Office of the Superintendent of Financial Institutions Canada, redeem the 2010-1 Medium Term Notes at par on or after November 2, 2015.

The issuance of the 2010-1 Medium Term Notes is expected to close on November 2, 2010.  Net proceeds from the issue will be added to the Bank's general funds and will be used for general banking purposes.

Laurentian Bank Securities is acting as lead agent for the issue.

Not for distribution to U.S. news wire services or dissemination in the United States of America.

About Laurentian Bank

Laurentian Bank of Canada is a banking institution operating across Canada and offering its clients diversified financial services. Distinguishing itself through excellence in service, as well as through its simplicity and proximity, the Bank serves individual consumers and small and medium-sized businesses. The Bank also offers its products to a wide network of independent financial intermediaries through B2B Trust, as well as full-service brokerage solutions through Laurentian Bank Securities.

Laurentian Bank is well established in the Province of Quebec, operating the third-largest retail branch network. Elsewhere throughout Canada, it operates in specific market segments where it holds an enviable position. Laurentian Bank of Canada has more than $23 billion in balance sheet assets and more than $14 billion in assets under administration. Founded in 1846, the Bank employs more than 3,600 people.

For further information:

Gladys Caron
Vice-President
Public Affairs, Communications and Investor Relations
514 284-4500, extension 7511
[e-mail]