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Investor Presentaiton

Scotiabank Items of Note in Q4/08 Gain/(Loss) Pre-tax ($MM) After-tax ($MM) EPS ($) Financial statement impact (Pre-tax) Q4/08 Conduit CDOs (245) (137) SC: Securities Gains Other CDOs (45) (24) SC: Securities Gains (73) (70) Int'l: Securities Gains (50) Other/Other Income (23) (45)* (35) Other: Securities Gains (35) Other/Other Income (10) Other AFS Securities (42) (27) SC: Securities Gains (47) (32) Int'l: Securities Gains (128) (91) Other: Securities Gains Lehman Brothers (171) (117) SC: Trading ALM Hedging (162) (109) Other: Net Interest Income Total (958) (642) (0.65) *Includes SIV writedown $(11)MM pre-tax, $(7)MM after-tax Scotiabank 35 Items of Note in Q4/07 Gain/(Loss) Pre-tax After-tax ($MM) ($MM) EPS ($) Financial statement impact (Pre-tax) Q4/07 Gain on Visa restructuring 111 92 Cdn: Other/Other income 91 71 Int'l: Other/Other Income Gain on sale of bond 43 35 SC: Other/Other Income index business Conduit CDOs SIVS/ABCP (115) (80) SC: Trading (20) (14) SC: Securities Gains (56) (39) Other: Securities gains Total 54 65 0.07 36
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