June 16, 2008 18:33 ET

NB Capital Corporation Announces National Bank of Canada Considering Making Funds Available for the Redemption of 8.35% Non-Cumulative Exchangeable Preferred Stock, Series A

NEW YORK, NEW YORK--(Marketwire - June 16, 2008) - NB Capital Corporation (NYSE:NBD) (the "Company") announced today that it has been advised by management of its parent, National Bank of Canada ("National Bank"), that, although no definitive decision has been made, National Bank is considering making funds available to the Company to effect the redemption of all of the outstanding 8.35% Non-Cumulative Exchangeable Preferred Stock, Series A of the Company, in accordance with their redemption provisions. This redemption would be subject to the completion of the proposed offering of Trust Capital Securities - Series 2 by NBC Asset Trust, a subsidiary of National Bank, announced today, the determination by National Bank to make funds available to the Company for the redemption, the approval of the redemption by the Board of Directors of the Company, any applicable regulatory approvals and the issuance of a redemption notice by the Company specifying the redemption date and other relevant information regarding the redemption.

This press release may contain forward-looking statements, including, but not limited to, statements with regard to the redemption by the Company of its 8.35% Non-Cumulative Exchangeable Preferred Stock, Series A, which involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future and that may be outside the control of the Company and National Bank. Actual events and developments may materially differ from those expressed or implied in such statements because of a number of factors, including the risks and uncertainties that are described in the Company's regulatory filings available on EDGAR ( and in National Bank's regulatory filings available on SEDAR ( Forward-looking statements should, therefore, be construed in light of such risks and uncertainties and undue reliance should not be placed on forward-looking statements.

About National Bank of Canada

National Bank of Canada is an integrated group which provides comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank offers a full array of banking services, including retail, corporate and investment banking. It is an active player on international capital markets and, through its subsidiaries, is involved in securities brokerage, insurance and wealth management as well as mutual fund and retirement plan management. National Bank has more than $123 billion in assets and, together with its subsidiaries, employs 17,093 people. The Bank's securities are listed on the Toronto Stock Exchange (TSX:NA). For more information, visit the Bank's website at

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Contact Information

  • National Bank Financial Group
    Denis Dube
    Director, Public Relations Department