TORONTO, Feb. 2 /CNW/ - Scotiabank today announced changes in the
interest rates earned on Scotia Guaranteed Investment Certificates (GICs). The
new rates are effective February 3, 2007.-   one-year GIC rate increased 0.30 per cent to 3.10 per cent;
    -   two-year GIC rate increases 0.20 per cent to 3.20 per cent;
    -   three-year GIC rate increases 0.25 per cent to 3.25 per cent;
    -   three-year Ultimate(R) GIC rate increases 0.10 per cent to 3.85 per
        cent;
    -   four-year GIC rate increases 0.25 per cent to 3.25 per cent;
    -   five-year GIC rate increases 0.25 per cent to 3.30 per cent;
    -   five-year Ultimate(R) GIC rate increases 0.25 per cent to 4.05 per
        cent;
    -   seven-year GIC rate increases 0.20 per cent to 3.40 per cent;
    -   ten-year GIC rate increases 0.20 per cent to 3.50 per cent.
    -   the effective yield on the five-year Accelerated Rate GIC increases
        from 3.9972 per cent to 4.1563 per cent.(R) Registered trademark of The Bank of Nova Scotia.