Scotiabank's Acquisition of Mortgage Business

RBC Capital Markets, 15 February 2006Event Scotiabank acquired the mortgage business of Maple Financial Group for $233 million or 1.5x book value.� Set to Close Next Month. While subject to full regulatory approvals (OSFI, Minister of Finance and the Competition Bureau) the deal is expected to close by March 31, 2006. Integration is expected to take 9 to 12 months.� Financially Incremental. This