National Bank of Canada exercised its right to have 1,408,600 of its units of Global Diversified Investment Income Trust II redeemed in full

Montreal, 28 February 2007 - 

National Bank of Canada (“NBC”) announces that it exercised its right to have 1,408,600 of its units of Global Diversified Investment Grade Income Trust II (the “Trust”), representing approximately 10.1% of all issued and outstanding units of the Trust (the “Units”), redeemed in full by the Trust on February 28, 2007.

Following the redemption, NBC owns or controls 900 Units.

The Units redeemed were initially acquired for investment purposes. NBC may acquire Units in the future or dispose of such Units subject to a number of factors, including general market and economic conditions and other investments and business opportunities available to it.

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 $116 billion in assets and, together with its subsidiaries, employs 16,972 people. The Bank’s securities are listed on the Toronto Stock Exchange (NA:TSX). For more information, visit the Bank’s website at www.nbc.ca.

Information (The telephone number provided below is for the exclusive use of journalists and other media representatives):

Denis Dubé
Director – Public Relations
National Bank of Canada
Tel.: (514) 394-8644