/NOTE TO EDITORS: NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES/

TORONTO, Nov. 26 /CNW/ - Scotiabank (BNS: TSX, NYSE) today announced that BNS Capital Trust (SBA.M: TSX), a closed-end trust and wholly owned subsidiary of Scotiabank, intends to redeem all issued and outstanding Scotiabank Trust Securities Series 2000-1 (Scotia BaTS) on December 31, 2010.  The redemption price per share will be equal to $1,000.00 per Scotia BaTS plus unpaid indicated distributions to the December 31, 2010 redemption date.  Formal notice will be delivered to the trust unit holders in accordance with the terms of the offering.

The redemption of the Scotia BaTS will be financed out of the general funds of BNS Capital Trust.

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With close to 70,000 employees, Scotiabank Group and its affiliates serve approximately 14.6 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 $523 billion in assets (as at July 31, 2010), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.