TORONTO, March 9 /CNW/ - Scotiabank and DundeeWealth Inc. ("DundeeWealth") announced today that Scotiabank has acquired, pursuant to the compulsory acquisition procedures of the Business Corporations Act (Ontario) (the "Compulsory Acquisition"), an additional 4,031,820 common shares ("Common Shares") of DundeeWealth (representing 3.27% of the issued and outstanding Common Shares) that were not tendered to Scotiabank's offer to acquire DundeeWealth, which expired at 12:01 a.m. ET on February 1, 2011.

As a result of the completion of the Compulsory Acquisition, Scotiabank now owns all of the Common Shares, special shares, series C, special shares, series F and first preference shares, series X.  The Common Shares will be de-listed from the Toronto Stock Exchange at the close of business today.

About Scotiabank
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $541 billion (as at January 31, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.

About DundeeWealth Inc.
DundeeWealth is a wholly owned subsidiary of Scotiabank and part of the Global Wealth Management division, with $81.9 billion in fee earning assets. It provides diversified wealth and investment management solutions which include alternative and tax-advantaged products and advisory services to financial advisors, institutions, corporations and foundations. It supports innovative wealth management through a network of independent financial advisors who operate under the DundeeWealth brand across Canada. Its award winning family of mutual funds and hedge funds, Dynamic Funds®, managed by Goodman & Company, Investment Counsel Ltd., is also available outside of Canada through distribution platforms in Europe and the United States.