Scotiabank Recognized as One of the Best Places to Work in Canada

Named one of top 25 companies in Canada

TORONTO, April 13 /CNW/ - Scotiabank is proud to be named one of the Best Places to Work(R) in Canada, 2010 by the Great Place To Work(R) Institute. Canada is the latest country where Scotiabank has received this prestigious recognition. As Canada's most international bank, Scotiabank has also been named to Best Workplaces lists in Peru, the Caribbean and Central America (including Puerto Rico, Dominican Republic, El Salvador, Panama and Costa Rica) and Mexico.

"Scotiabank has long recognized that our employees are our greatest strength and the reason for our success," said Sylvia Chrominska, Scotiabank Group Head, Global Human Resources and Communications. "Strong relationships with our employees are the foundation of how we do business, here in Canada and in the some 50 countries where we operate. The Best Places to Work(R) in Canada, 2010 list is determined, in large part, by employee survey results. For this reason, we are particularly proud that our Canadian employees have placed Scotiabank among the top 25 Best Workplaces in Canada."

Selection for the Best Workplaces list is based primarily on the basis of employees' responses to a proprietary employee survey about the level of trust and quality of relationships in the organization. Further information used for selection to the list is provided by completion of a two part management questionnaire, also developed by the Great Place to Work(R) Institute.

"At Scotiabank, we strive to ensure that our organization is a place where talented people want to work and have the opportunity to thrive in their careers," said Cory Garlough, Vice President, Global Employment Strategies, Scotiabank. "We focus considerable effort on recognizing and rewarding strong performance and placing real value on strong relationships. We are extremely honoured that our exceptional employees in Canada have contributed to making Scotiabank such a great place to work."

Each year, the Great Place to Work(R) Institute produces Best Workplace lists, representing workplaces in 40 countries around the world.

About Scotiabank:

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 $507 billion in assets (as at January 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

For further information: Deborah Clark, Manager Public Affairs, Scotiabank, [phone], [email protected]