Press Releases

National Bank presents PIMCO CorePLUS Deposit Notes to Canadian investors

Montreal, 24 January 2008 -

National Bank is pleased to present the PIMCO Canadian CorePLUS Bond R.O.C. Deposit Notes Series 2, an investment solution which combines performance linked to world-class bond management with tax efficiency.

The Deposit Notes provide Holders with semi-annual payments of up to $2.25 (4.50% per annum) in the form of return of capital, in addition to the payment at maturity of a variable return linked to the performance of the PIMCO Canada Canadian CorePLUS Bond Trust.

The principal is 100% protected over the 5-year term of the Deposit Notes and a daily secondary market will be available.

Each Deposit Note costs $100 and the minimum investment is $5,000. It is ideal for investors looking to benefit from a professionally managed fixed income portfolio that could bring value added performance relative to the bond market. It provides access to the performance of one of the world’s leading bond portfolio managers and would appeal to investors who value a tax-efficient investment solution.

PIMCO Canadian CorePLUS Bond R.O.C. Deposit Notes Series 2 are eligible for Registered Retirement Savings Plans (RRSPs), Registered Retirement Income Funds (RRIFs), Deferred Profit-Sharing Plans (DPSPs) and Registered Educational Savings Plans (RESPs).

Deposit Notes are available until March 20, 2008 at National Bank Financial (1-800-361-8838 or 514-879-2222) or from any investment and financial planning advisor in Canada as well as National Bank Direct Brokerage (www.nbdb.ca or 1-800-293-6637).

Any change in the performance of the PIMCO Canadian CorePLUS Bond Trust will have a direct impact on the return payable. It is possible that no return will be paid. An investment in the Deposit Notes is subject to a number of risk factors. Potential purchasers shall consult the Information Statement before investing in the Deposit Notes.

“PIMCO” and “PIMCO Canada Canadian CorePLUS Bond Trust” are intellectual property (including trademarks) licensed to National Bank of Canada by PIMCO Canada Corp. for use in connection with the Deposit Notes. Deposit Notes are not sponsored, endorsed, sold or promoted by PIMCO Canada Corp. and PIMCO Canada Corp. does not make any representation regarding the advisability of investing in the Deposit Notes nor shall it have any liability with respect thereto.

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 $113 billion in assets and, together with its subsidiaries, employs 16,863 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 Department
National Bank of Canada
Tel.: 514-394-8644