Scotia Capital Changes Banks' Ratings

Scotia Capital, 5 August 2009Banks - Rating Changes� We have changed our ratings on a number of banks. We have changed BMO and CM and downgraded NA.� Bank rating changes are: upgrading BMO to 1-Sector Outperform from 2-Sector Perform, upgrading CIBC to 2-Sector Perform from 3-Sector Underperform and downgrading NA to 3-Sector Underperform from 2-Sector Perform.BMO - Upgrading to 1-Sector