National Bank of Canada Renews its US$5B Euro Note Programme

On March 13, 2007, National Bank of Canada renewed its US$5 billion Euro Note Programme under the Prospectus Directive of the European Union and applicable legislation in Luxembourg, including the rules of the Luxembourg Stock Exchange. The notes are listed on the Luxembourg Stock Exchange. Barclays Bank Plc and National Bank Financial Inc. are the arrangers on the Programme, and the dealers are Barclays Bank, Citigroup, Deutsche Bank, Goldman Sachs International, HSBC, JP Morgan, Merrill Lynch International, National Bank Financial and UBS Investment Bank.

National Bank was represented by in-house counsel Dominic Paradis and Martin-Pierre Boulianne, and assisted by Daniel Bénay, Frédéric Cotnoir and Stephanie Lee (corporate and securities) and Claude P. Desaulniers (tax) of McCarthy Tétrault LLP. The arrangers and dealers were represented by Sherry Roth and Brenda Mothersill of Stikeman Elliott LLP in London.

Lawyer(s)

Stephanie Lee Sherry Roth Brenda D. Mothersill Daniel Bénay Frédéric Cotnoir Claude P. Desaulniers