National Bank of Canada Reinvests $600,000 in Regional Venture Capital Fund

The National Bank today announced that it was investing $600,000 in the Fonds régional de Solidarité Bas Saint-Laurent, a labour-sponsored venture capital fund in Quebec's Lower St. Lawrence region. This is the second investment of this kind for the Bank, which had invested a similar amount when the fund was created in 1996.

"The National Bank is pleased to renew its commitment to the Fonds Régional de solidarité in order to stimulate economic development in our region," stated Luc Bordeleau, the Bank's Vice-President for the Lower St. Lawrence/Gaspé region. "The best way to foster economic growth in the regions is to give them the means to take the future into their own hands. The National Bank and the Fonds FTQ both share this philosophy and, by joining forces, we can continue to promote new business opportunities for the benefit of the region."

"Our involvement in the Fonds régional de solidarité is another way we can fulfill our mission of being an agent of economic and social development wherever our institution is present," Mr. Bordeleau added.

The National Bank has 22 branches and more than 270 employees in the Lower St. Lawrence/Gaspé/Islands region. In addition, it is the only bank to have a regional office in Lower St. Lawrence/Gaspé.

National Bank of Canada is an integrated group whose mission is to provide 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 all the investment banking services required by large corporations. 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. The National Bank has assets of over $75 billion and, together with its subsidiaries, it employs some 16,600 people. The Bank's shares are listed on the Toronto Stock Exchange.

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