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Press release from CNW Group

BNS Split Corp. II Announces Completion of Warrant Offering

Friday, July 08, 2011

BNS Split Corp. II Announces Completion of Warrant Offering14:36 EDT Friday, July 08, 2011/THIS PRESS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./TORONTO, July 8, 2011 /CNW/ - BNS Split Corp. II (the "Company") is pleased to announce the completion of its warrant offering. The gross proceeds from the exercise of the warrants totaled $63.0 million, representing 100% of the maximum available subscription amount.The net proceeds from the exercise of the warrants will be invested in accordance with the investment objectives of the Company.BNS Split Corp. II is a mutual fund corporation created to hold a portfolio of common shares of The Bank of Nova Scotia. The Capital Shares and Preferred Shares of BNS Split Corp. II are listed for trading on The Toronto Stock Exchange under the symbols BSC and BSC.PR.B, respectively.For further information: Investor Relations BNS Split Corp. II (416) 863-7301 E-mail: mc_bnssplit2@scotiacapital.com Web site: www.scotiamanagedcompanies.com