Scotia iTRADE Retains #1 Ranking in Canadian Online Discount Brokerage Study

TORONTO, ONTARIO--(Marketwire - Jan. 31, 2013) - Customers who choose to conduct their investment strategies online can again look to Scotia iTRADE for the most comprehensive online discount brokerage experience in Canada. For the second straight review, Scotia iTRADE ranked 1^st in Surviscor's Online Discount Brokerage scorCard, a semi-annual, impartial assessment of online features and functionality at Canadian online discount brokerage institutions.

"There were many changes in the online brokerage industry in the last 12 months including an rise in mobile delivery, social media and community sharing; improved email responsiveness, websites and investment screeners; the introduction of the first self-directed advice tool; and a major name change by Canada's largest online brokerage firm" said Glenn LaCoste, President of Surviscor Inc. "Scotia iTRADE should be commended on winning this prestigious honour for a second consecutive time in this very competitive landscape." added Mr. LaCoste.

"Scotia iTRADE is honoured to once again receive the distinction of Canada's top online discount brokerage from Surviscor," Bob Grant, Managing Director and Head, Global Online Brokerage, Scotiabank. "Providing our customers with market leading offerings is top priority and we want to thank them for sharing their positive feedback on our online trading platform. This recognition is a testament to the ongoing dedication and hard work of our team at Scotia iTRADE who strive for the highest standards of excellence to provide the most comprehensive online discount brokerage experience in Canada."

Surviscor's Online Discount Brokerage scorCard, now in its 7^th year, simulates customer usage and measures over 3,300 objective criteria within multiple service categories, each weighted according to an industry-defined level of importance. The 12^th edition Q1-2013 scorCard, reviewed 7 main categories which is comprised of 32 sub-categories.

Scotia iTRADE was the top firm in the 'Website Usability' category while BMO InvestorLine climbed into second, with best marks in the 'Getting Started', 'Account Services' and 'Website Design' categories. TD Direct Investing and Virtual Brokers were the other category winners.

For further information visit www.surviscor.com or contact Surviscor at 1-866-299-7267 or email info@surviscor.com.

About Surviscor Inc.

Surviscor Inc. is a Canadian leader in the analysis and ranking of Canadian online services offered to retail consumers. Surviscor produces seasonal feature and functionality audits, including its prominent Online Banking and Mobile Banking scorCards. All studies and analyses serve as industry benchmarks for consumers and industry participants by identifying online offerings considered to be leading-edge as compared to the industry standard.

About Scotiabank

Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 81,000 employees, Scotiabank and its affiliates serve some 19 million customers in more than 55 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. In December 2012, Scotiabank became the first Canadian bank to be named Global Bank of the Year and Bank of the Year in the Americas by The Banker magazine, a Financial Times publication. With assets of $668 billion (as at October 31, 2012), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.