TORONTO, April 27 /CNW/ - Scotiabank announced today the following
changes in the Bank's posted residential mortgage interest rates, effective
April 28, 2009:-   six-month flexible closed  4.75 per cent (decreases by 0.30 per cent)
    -   six-month open             6.60 per cent (decreases by 0.30 per cent)
    -   one-year open              6.95 per cent (decreases by 0.30 per cent)
    -   one-year closed            4.90 per cent (decreases by 0.00 per cent)
    -   two-year closed            4.50 per cent (decreases by 0.30 per cent)
    -   three-year closed          4.65 per cent (decreases by 0.30 per cent)
    -   four-year closed           4.85 per cent (decreases by 0.30 per cent)
    -   five-year closed           5.25 per cent (decreases by 0.20 per cent)
    -   seven-year closed          6.70 per cent (decreases by 0.20 per cent)
    -   10-year closed             7.05 per cent (decreases by 0.00 per cent)

    Scotiabank offers the following special discounted rates(*) on residential
mortgage:

    -   one-year fixed closed      2.90 per cent (decreases by 0.00 per cent)
    -   five-year fixed closed     3.95 per cent (decreases by 0.30 per cent)
    -   10-year fixed closed       5.25 per cent (decreases by 0.00 per cent)

    (*) The special discounted rates are not the posted rates of Scotiabank.
        Rates are subject to change without notice. Offers may be withdrawn
        or extended without notice and cannot be combined with any other rate
        discounts, offers, or promotions. Mortgage funds must be advanced
        within 120 days of the application date. Other conditions may apply.