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Investor Presentaiton

Scotiabank Earnings in Other Segment net income available to common shareholders, $ millions 41 (22) Q1/08 vs. Q1/07 net income + higher securitization revenues + lower expenses - negative impact of financial instruments $46mm SIV & $18mm CDO write-downs - lower underlying securities gains Q1/07 Q4/07 Q1/08 (75) Q1/08 vs. Q4/07 net income + lower taxes than Q4, which included a $50mm tax charge + lower expenses + higher securitization revenues - lower underlying securities gains The Other category includes Group Treasury and other corporate items, which are not allocated to a business line. 41 Scotiabank ($ millions) 25 15 5 (5) Trading Results Within 1 Day VaR November 1, 2007 to January 31, 2008 -Actual P&L - 1 day VaR притримати (15) (25) ■ Q1/08: Average 1 day VaR: $16.6 vs. $13.2 in Q4/07 * excludes $80 million reserve taken against a monoline account 42
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