Scotiabank has issued the following statement regarding today's OSC ruling related to CI Financial Shareholder Rights Plan:

TORONTO, May 26, 2011 /CNW/ - We are disappointed that the Ontario Securities Commission has not supported the position of the Toronto Stock Exchange regarding an existing shareholder's right to vote, as we remain convinced that our position on the fundamental rights of shareholders is correct.

For further information:

Media Communications: Ann DeRabbie, 416-933-1344
Investor Relations: Peter Slan, 416-933-1273