Scotiabank Group Named No. 1 FX Provider in Canada, Costa Rica, Jamaica and
Peru

TORONTO , Jan. 14 /CNW/ - Scotiabank announced today that it has been acknowledged as the leading foreign exchange provider in Canada , Costa Rica , Jamaica and Peru for 2010.

Global Finance magazine named Scotia Capital as Canada's Best FX Provider for the 6th year in a row, while also acknowledging Scotiabank Costa Rica , Scotiabank Jamaica and Scotiabank Peru as the top FX providers in their respective countries. Criteria for choosing winners include transaction volumes, market share, scope of global coverage, customer service, competitive pricing and innovative technologies.

"At Scotiabank, we are dedicated to providing our clients with superior service and market intelligence," said Barry Wainstein, Vice-Chairman and Deputy Head, Global Capital Markets, and Global Head, Foreign Exchange and Precious Metals. "This ongoing dedication to the highest standards of excellence makes us especially proud to share our latest third-party rankings."

Scotia Capital was also ranked as the Best Canadian Currency Forecaster and one of the Top 2 Global Leaders by Bloomberg Markets magazine in its 2009 ranking of Foreign Exchange forecasting, and the No. 1 global forecaster by currency pair for Dollar/Swiss and Euro/Swiss.

Scotia Capital is the wholesale banking arm of the Scotiabank Group, offering a wide variety of products to corporate, government and institutional clients. Scotia Capital provides full-service coverage across the NAFTA region, and also serves selected niche markets globally through two divisions, Global Capital Markets and Global Corporate and Investment Banking. It has 28 offices and more than 300 relationship managers organized around industry specialties. For more information, please visit www.scotiacapital.com.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 68,000 employees, Scotiabank Group and its affiliates serve approximately 14.6 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 more than $496 billion in assets (as at October 31 , 2009), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

For further information: Joe Konecny, Public Affairs, at [phone], or [email protected]