Investor Presentaiton

Scotiabank Scotiabank Net Income* ($ millions) Domestic Banking Chris Hodgson Executive Vice-President Domestic Personal Banking 455 416 391 11 Domestic Banking Record Quarter Q3/08 vs. Q3/07 net income: up 16% + revenues up 9% + strong asset & deposit growth partly offset by lower margin + higher transaction & card revenues expenses up 2% growth initiatives, including acquisitions, partly offset by lower commission based compensation - increase in provisions due to portfolio growth, Scotia Dealer Advantage (SDA) & small business Q3/08 vs. Q2/08 net income: up 9% + revenues up 6% + net interest income +7%, other income +5% expenses up 3% volume related costs, stock based compensation, 2 extra days - Q3/07 Q2/08 Q3/08 *available to common shareholders 12

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