TORONTO, Aug. 17 /CNW/ - Scotiabank today announced changes in the
interest rates earned on Scotia Guaranteed Investment Certificates (GICs).
The new rates are effective August 18, 2007.-  one-year GIC rate decreases 0.10 per cent to 3.30 per cent;
      -  two-year GIC rate decreases 0.10 per cent to 3.40 per cent;
      -  three-year GIC rate decreases 0.10 per cent to 3.50 per cent;
      -  three-year Ultimate(R) GIC rate decreases 0.10 per cent to 4.30
         per cent;
      -  four-year GIC rate decreases 0.10 per cent to 3.60 per cent;
      -  five-year GIC rate decreases 0.15 per cent to 3.70 per cent;
      -  five-year Ultimate(R) GIC rate decreases 0.15 per cent to 4.40
         per cent;
      -  seven-year GIC rate decreases 0.15 per cent to 3.70 per cent;
      -  ten-year GIC rate decreases 0.15 per cent to 3.75 per cent.
      -  The effective yield on the five-year Accelerated Rate GIC decreases
         from 4.6872 per cent to 4.4423 per cent.

    (R) Registered trademark of The Bank of Nova Scotia.