Scotiabank Recognized Among the 50 Best Employers in the Country for Sixth
Year in a Row

TORONTO , Dec. 30 /CNW/ - Marking the sixth consecutive year of recognition, Scotiabank has once again been named one of Canada's 50 Best Employers, according to results published in the January 2010 edition of Report on Business Magazine and in La Presse. The prestigious annual list, based on a national survey conducted by Hewitt Associates, placed Scotiabank 24th of 99 eligible organizations.

"Scotiabank has long recognized that our employees are our greatest strength and the reason for our success," said Rick Waugh , President and CEO, Scotiabank. "This award recognizes our efforts to be a global employer of choice, and our commitment, in spite of the challenging business environment of the past year, to provide a destination workplace where all employees can thrive in their careers. Best employers are determined primarily on employee survey results and for this reason, we are particularly proud to be recognized as one of Canada's top employers for the sixth year in a row."

"The study measures employee engagement - an employee's degree of emotional and intellectual commitment to the organization," said Neil Crawford , Best Employers in Canada Study Leader, Hewitt Associates. "Employees and leaders complete surveys regarding their perceptions of many aspects of their work experience. Organizations with the highest employee engagement are named to the list of the 50 Best Employers in Canada ."

"At Scotiabank, strong employment relationships in the workplace are at the heart of how we do business," said Sylvia Chrominska, Scotiabank Group Head, Global Human Resources and Communications. "The survey results reaffirm that our employees appreciate this commitment and the kinds of programs it yields - leadership training, employee wellness and workforce diversity, to name a few. The results also tell us that Scotiabank employees value our belief in recognizing and rewarding performance, and our overall success as a company. We are extremely honoured that our employees have again placed Scotiabank as an employer of choice among Canadians."

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 12.8 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: Deborah Clark, Scotiabank Public Affairs, [phone]