FOR IMMEDIATE RELEASE
Media Contact: Frank Switzer
416-866-7238

Race Information: Alan Brookes
Race Director
416-464-7437

Scotiabank Announces Five-Year Sponsorship of Toronto's
Premier Running Event and Charity Challenge

TORONTO. August 8th, 2006 – Scotiabank today announced a new five-year
commitment to extend its title sponsorship of the Scotiabank Toronto
Waterfront Marathon, at 'a substantial increase', paving the way for
another landmark athletic event and grassroots fundraiser on September 24,
2006.

"Scotiabank is committed to supporting the communities in which we live and
work and we are delighted to offer more support to recognized charities in
our communities by extending our partnership with the Scotiabank Toronto
Waterfront Marathon," said Scotiabank President and Chief Executive
Officer, Rick Waugh. "An important part of being a leader in corporate
social responsibility is being involved in the communities where we
operate."

Toronto's premier running event and charity challenge is expected to exceed
last year's numbers and attract more than 10,000 runners at all levels from
over 30 countries and most U.S. states. The Scotiabank Charity Challenge –
which raised $625,000 in 2005 – helps over 40 charities raise money by
collecting pledges from marathon, half-marathon and five kilometer (5K)
participants, without the cost of organizing their own event.

"We are thrilled with Scotiabank's renewed commitment," said Race Director
Alan Brookes, of RCP International, owners of the event. "Scotiabank has
been a marvelous sponsor for nine years and this new commitment will allow
us to sustain a fast-growing international marathon and community
festival."

The Scotiabank Toronto Waterfront Marathon has attracted international
acclaim with exciting moments like the world-record-breaking marathon time
of five hours and 40 minutes set in 2003 by 92-year-old Fauja Singh, of
Britain. Ed Whitlock also raised the bar in 2004 when the 73-year-old
Canadian crossed the finish line in an astounding 2:54:49.

Scotiabank is committed to supporting the communities in which we live and
work, both in Canada and abroad. Recognized as a leader internationally and
among Canadian corporations for its charitable donations and philanthropic
activities, in 2005 the Bank provided more than $40 million in sponsorships
and donations to a variety of projects and initiatives, primarily in the
areas of healthcare, education and social services. Scotiabank is on the
World Wide Web at www.scotiabank.com.

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