Scotiabank acquires Travelers Leasing Corporation

On February 14, 2007, The Bank of Nova Scotia completed the acquisition of Travelers Leasing Corporation, a leading Canadian automobile financing company. The purchase price has been agreed to be kept confidential. Travelers Leasing Corporation, a privately-held corporation based in British Columbia with offices across Canada, currently has $255 million in loans under administration.

Minority shareholders of Travelers Leasing Corporation, compising the employee share and option holder group, were represented by Don Dalik and David Martin of Fasken Martineau.