Western Union and Scotiabank Agreement Brings the World Closer to Customers

Scotiabank, one of North America’s premier financial institutions and Canada’s most international bank, and The Western Union Company (NYSE: WU), a global leader in money-transfer services, today announced a pilot agreement to offer the Western Union® money-transfer service to Scotiabank customers in Canada. Western Union and Scotiabank have begun a pilot to offer customers across 42 Scotiabank branch locations in British Columbia, the Prairies and Ontario the ability to send outbound money transfers to more than 200 countries and territories through Western Union. Based upon a successful pilot offer of Western Union’s money-transfer service, Scotiabank will rollout the service across its national branch network and Scotia Online in late January, 2008. "As Canada’s most international bank, it makes sense for us to work with a well-known and trusted partner that can provide our customers with the broadest possible reach when it comes to sending money to locations across the globe,” said Chris Hodgson, Executive Vice-President and Head, Domestic Personal Banking, Scotiabank. "This is a further step in our commitment to reflecting the unique needs of multicultural communities through our banking services. Today’s announcement enables us to provide Scotiabank customers in diverse communities across the country with the ability to send money to friends, family and business colleagues in 200 countries around the world in a safe, fast and convenient manner, simply by using their Scotia Card.” "Western Union and Scotiabank are brands consumers know and trust,” Brian Fox, Vice President and General Manager, Western Union Canada, added. "One of our strategic goals is to expand our financial services around the world; this will now include enabling Scotiabank consumers to conveniently access Western Union services at their local branch, online or over the phone. For many consumers, Western Union’s service represents an important connection with immediate and extended family. Anything that we can do to make that connection easier is an example of the tremendous value the Western Union brand adds to consumers. Together with Scotiabank, Western Union looks forward to providing Canadians one more way to connect with the world.” In the U.S. and Canada alone, Western Union offers a variety of ways for consumers to send funds to friends and loved ones, including: in person at approximately 50,000 Agent locations using cash, and in select locations, a debit card; online at WesternUnion.com; and over the phone by calling 1-800-235-0000. "We are excited about the doors that this partnership opens for our customers,” said Gillian Riley, Managing Director, Term Deposits and Day to Day Banking, Scotiabank. "We are now able to enhance our presence around the world with Western Union’s extensive distribution network to maximize the opportunities for our customers to get their money where they need it to go.” About The Western Union Company The Western Union Company (NYSE: WU) is a leader in global money transfer services. Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a network of more than 320,000 Agent locations in over 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.westernunion.com. About Scotiabank Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With almost 60,000 employees, Scotiabank Group and its affiliates serve approximately 12 million customers in some 50 countries around the world. Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. With $408 billion in assets (as at July 31, 2007), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.