TORONTO, July 10 /CNW/ - Scotiabank today announced changes in the
interest rates charged on Scotia residential mortgages. The rates on the
following products are:-  The Prime Rate for the three-year Ultimate Variable Rate Mortgage will
       increase by 0.25 per cent to 6.25 per cent, effective July 11, 2007;

    -  The Prime Rate for the five-year Flex Value Mortgage will increase by
       0.25 per cent to 6.25 per cent, effective July 11, 2007

                 All other mortgage rates remain unchanged.