Combines Leading Edge E(*)TRADE Canada technology with Scotia Capital
    Research and AnalysisTORONTO, March 10 /CNW/ - Scotiabank today introduced Scotia iTRADE, a
new online investing offering that brings together the best of two worlds: the
strength of E(*)TRADE Canada's leading edge trading platform, and the solid
value of Scotia Capital's research and analysis.
    "Scotia iTRADE brings the unique offering of E(*)TRADE Canada into the
Scotiabank family of brands, further demonstrating the Bank's commitment to
providing top-ranked online brokerage services to independent investors," said
Barbara Mason, Executive Vice-President, Wealth Management, Scotiabank.
"Scotia iTRADE builds on E(*)TRADE Canada's innovation, brand character and
competitive pricing resulting in a comprehensive and unique online investing
offer."
    The re-brand of E(*)TRADE Canada's platform as Scotia iTRADE follows
Scotiabank's acquisition of E(*)TRADE Canada last September.
    "The acquisition of E(*)TRADE Canada enabled Scotiabank to become a leader
in the online investing sector," said Duncan Hannay, recently named as
Managing Director of Direct Investing for Scotiabank. "Scotia iTRADE builds on
the essence of E(*)TRADE Canada's distinct and powerful consumer offering. I am
very pleased to be at the helm of the talented team behind Scotia iTRADE,
ScotiaMcLeod Direct Investing and TradeFreedom."
    Over the past few months, online investing brokerages have seen a sharp
growth trajectory in new account openings. Online investing account openings
at Scotiabank for this quarter are up 75 percent from the previous quarter and
up more than 62 percent from one year ago.
    According to Investor Economics, Retail Brokerage Report Winter 2009,
Scotiabank's online investing combined businesses ranked No.2 in overall
trades in the category. By 2012, 1.5 million Canadian households are projected
to trade online, up 73 percent from 2005.Scotia iTRADE will provide the following online investing benefits to
customers:
    -   Innovation - robust investing solutions combined with the very best
        in design, technology and product innovation including real time
        account balances, direct market access, trailing stop orders,
        comprehensive options trading, and the IPO Centre online, to name
        a few
    -   Value - commissions as low as $6.99 flat, great rates on
        cash balances with the Cash Optimizer Investment Account, and a
        No Annual Fee/No Minimum RRSP program
    -   Ease - customizable trading platforms and easy-to-use web site with
        fast online execution
    -   Service - seven day a week customer service provided online, by phone
        and in person, including an Investor Information Center in the heart
        of Toronto's financial district.Scotia iTRADE will also give investors access to Scotia Capital equity
and economic research. Scotia Capital is the wholesale banking arm of
Scotiabank Group and has in-depth research capabilities.
    "Scotia iTRADE represents the platform that will bring together the best
of Scotiabank's three online investing businesses - E(*)TRADE Canada,
ScotiaMcLeod Direct Investing and TradeFreedom - to create a service that is
truly the online investing platform where insight meets innovation," concluded
Ms. Mason. "This amalgamated new platform is anticipated by the end of the
year."
    Details and important additional information about Scotia iTRADE are
available at www.scotiaitrade.com

    About Scotiabank

    Scotiabank is one of North America's premier financial institutions and
Canada's most international bank. With more than 69,000 employees, Scotiabank
Group and its affiliates serve approximately 12.8 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 $509 billion in assets (as at January 31, 2009), Scotiabank
trades on the Toronto (BNS) and New York Exchanges (BNS). For more information
please visit www.scotiabank.com.