RNS Number:3594V
Bank of Nova Scotia
6 December 2000



                          DIVIDENDS

NOTICE is hereby given that The Bank of Nova Scotia has declared dividends on
the outstanding shares of the Bank for the quarter ending January 31, 2001, as
follows:

- Payable on January 29, 2001 to shareholders of record at the close of         
 business on January 2, 2001:

  - common shares, Dividend No.525 of $0.28 per share

  - Non-Cumulative Preferred Shares:

    - Series  6, Dividend No.32 of $0.446875  per share
    - Series  7, Dividend No.25 of $0.44375   per share
    - Series  8, Dividend No.23 of $0.4375    per share
    - Series  9, Dividend No.22 of $0.421875  per share
    - Series 10, Dividend No.19 of $0.02      per share
    - Series 11, Dividend No.13 of $0.375     per share
    - Series 12, Dividend No.10 of $0.328125  per share

Holders may elect to receive their dividends in common shares of the Bank in
lieu of cash dividends, in accordance with the Bank's Shareholder dividend and
Share Purchase Plan.


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