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Bracewell & Giuliani Helps Bring Scotia Bank to Texas

June 28, 2007

HOUSTON (June 28, 2007) — Bracewell & Giuliani LLP attorneys Sanford Brown, managing partner of Dallas and Fort Worth, and Jerry Sanchez, Dallas associate, successfully assisted Canada’s The Bank of Nova Scotia (Scotiabank) in obtaining approval from the Texas Department of Banking to open a branch office in Houston.

The branch, located at 711 Louisiana Street, replaces Toronto-based Scotiabank’s existing representative office in Houston and will offer wholesale banking, corporate investment, and lending and cash management services to existing and prospective clients.  The Texas branch opened on June 18, 2007, and is led by Mark Ammerman, Managing Director and Industry Head of Energy, Scotia Capital, Houston.

The Scotiabank branch office in Houston will be the first foreign bank branch established in Texas since such offices were first authorized in 1999.  Scotiabank has also elected to designate the State of Texas as its home state in the US, which permits it to be treated as a Texas bank for interstate branching purposes under federal law.

“This is the first branch of a foreign bank in Texas, so the project was far from simple,” said Mr. Brown.  “Jerry and I are pleased to be involved in helping Scotiabank convert its office in Texas to a branch,” he added.