Investor Presentation Q4 2005

Scotiabank $ millions Other 75 Net income* Net income of $74 million up $17 mm yr/yr, $52 mm qtr/qtr 50 25 0 Q4/04 Q3/05 Q4/05 " Higher investment gains yr/yr " Q4/05 includes $45 million release of general allowance * net income available to common shareholders 25 ด Scotiabank Risk Review Brian Porter Chief Risk Officer 26 26

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