Acquisition of Services collectifs Assuraction

Montreal, 15 January 2009 - 

National Bank Insurance Firm, a subsidiary of National Bank Financial Group, is pleased to announce the acquisition of Services collectifs Assuraction inc.   Through this acquisition, National Bank Insurance Firm will take over a portfolio of over 250 companies of all sizes and increase its group insurance premiums under management to $50 million annually.

The forces of Services collectifs Assuraction will be added to those of National Bank Insurance Firm to offer all clients a value-added that is unique in the group insurance brokerage market, complemented by group pension plans as well as individual pension and insurance plans. Clients of Services collectifs Assuraction will continue to receive services from the team that made the company's reputation.

According to Yves Pelletier, President of National Bank Insurance Firm, this acquisition is in keeping with the firm's business vision, which is focused on meeting the benefits needs of companies and their employees. The move is also intended to expand the firm's service offering and allow clients to benefit from a larger team of highly qualified people.

National Bank Insurance Firm is constantly on the lookout for business opportunities that will allow it to realize its growth potential.

National Bank Insurance Firm is a subsidiary of National Bank Financial Group and a large-scale multidisciplinary brokerage firm active throughout Quebec with solid insurance and financial services expertise. It provides individuals and businesses with a comprehensive solution tailored to their needs. It comprises more than 100 specialized advisors, development managers and service managers. It promotes business best practices and offers a highly professional framework to its clients.

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 $129 billion in assets and, together with its subsidiaries, employs 17,146 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
Senior Manager – Public Relations
National Bank of Canada
514-394-8644