Scotiabank Issues Peso Notes

The Bank of Nova Scotia issued, on July 14, 2003, approximately 3.5 billion Mexican Peso notes, with a 10-year maturity. The notes were sold on a private placement basis to a U.S. grantor trust, which in turn issued US$335 million of Mexican Peso Currency-ADjusted Enhanced Trust Securities (CADETS) due 2013. The dealers for the offering were Citigroup Global Markets Inc. and Scotia Capital (USA) Inc.

The Bank of Nova Scotia was represented in Canada, by McCarthy Tétrault LLP with a team that included Barry Ryan, Jonathan Grant, Steven Kim and Tara Rosenblatt (corporate) and Michael Quigley and Gabrielle Richards (tax); and in the U.S., by Jonathan Weld, Annalisa Dentoni-Litta, Louisa Kalish and James Brown of Shearman & Sterling LLP in New York.

The dealers were represented by Raymond Check, Leanne Mader, Omar Rehman, Jonathan Ross and Buxian Xia, and Mary Alcock (ERISA) and Jim Peaslee and Janine Shissler (tax) of Cleary, Gottlieb, Steen & Hamilton in New York.

Lawyer(s)

Mary E. Alcock Danielle Kalish Leanne Mader Steven R. Kim Tara R. Rosenblatt James M. Peaslee Jonathan M. Weld Annalisa Dentoni-Litta Jonathan R. Grant Janine Shissler

Firm(s)

McCarthy Tétrault LLP Shearman & Sterling LLP Cleary, Gottlieb, Steen & Hamilton