TORONTO, ON - March 06, 2014 /CNW/ -

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

Scotiabank (TSX: BNS)(NYSE: BNS) today announced that the Bank, intends to redeem all outstanding 4.94% debentures due April 15, 2019 for 100% of their principal amount plus accrued interest to the redemption date. The redemption will occur on April 15, 2014. Formal notice will be delivered to the debenture holders in accordance with the terms and conditions set forth in the related trust indenture.

The redemption has been approved by the Office of the Superintendent of Financial Institutions and will be financed out of the general funds of Scotiabank.

Scotiabank is a leading financial services provider in over 55 countries and Canada's most international bank. Through our team of more than 83,000 employees, Scotiabank and its affiliates offer a broad range of products and services, including personal and commercial banking, wealth management, corporate and investment banking to over 21 million customers. With assets of $783 billion (as at January 31, 2014), Scotiabank trades on the Toronto (TSX: BNS) and New York Exchanges (NYSE: BNS). Scotiabank distributes the Bank's media releases using CNW. For more information please visit www.scotiabank.com.

For further information please contact:
Jake Lawrence, Managing Director, Group Treasury
(416) 866-5712, or jake.lawrence@scotiabank.com