TORONTO, March 1 /CNW/ - Scotiabank today announced changes in the
interest rates earned on Scotia Guaranteed Investment Certificates (GICs). The
new rates are effective March 2, 2007.-  one-year GIC rate decreases 0.15 per cent to 2.95 per cent;
    -  two-year GIC rate decreases 0.20 per cent to 3.00 per cent;
    -  three-year GIC rate decreases 0.20 per cent to 3.05 per cent;
    -  four-year GIC rate decreases 0.20 per cent to 3.05 per cent;
    -  five-year GIC rate decreases 0.20 per cent to 3.10 per cent;
    -  seven-year GIC rate decreases 0.20 per cent to 3.20 per cent;
    -  ten-year GIC rate decreases 0.20 per cent to 3.30 per cent.
    -  the effective yield on the five-year Accelerated Rate GIC decreases
       from 4.1563 per cent to 4.0071 per cent.(R) Registered trademark of The Bank of Nova Scotia.