National Bank of Canada: Notice of Intention Regarding the Exercise of Options
The National Bank today announced that Gisèle Desrochers, Senior Vice-President – Human Resources and Operations, has expressed her intention to exercise up to 10,000 options as of December 20, 2004, subject to market conditions.
The announcement was made via a press release in keeping with new guidelines under the National Bank's corporate governance rules, which stipulate that the President and Chief Executive Officer and all officers who are on the Bank's Executive Committee are required to publicly disclose their intention to exercise stock options at least five business days in advance. The corporate governance rules also stipulate that the President and Chief Executive Officer and all officers who are on the Bank's Executive Committee must, upon exercising stock options, hold the amount equivalent to the gain, after tax considerations, in the form of common shares of the Bank for a period of one year.
About the 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. The National Bank has assets close to $89 billion and, together with its subsidiaries, employs close to 16,500 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 are for the exclusive use of journalists and other media representatives.)
Manager, Public Relations Department
National Bank of Canada
Tel.: (514) 394-8644