TORONTO, Sept. 4 /CNW/ - The Board of Directors of BNS Split Corp. II (the "Company") has declared today dividends of $0.2214 per Preferred Share and $0.1150 per Capital Share, payable on September 22, 2008 to holders of record at the close of business on September 19, 2008.

Holders of Preferred Shares are entitled to receive quarterly fixed cumulative distributions equal to $0.2214 per Preferred Share. The Company's Capital Share dividend policy is to pay holders of Capital Shares quarterly dividends in an amount equal to the dividends received by the Company on The Bank of Nova Scotia common shares minus the distributions payable on the Preferred Shares and all administrative and operating expenses.

BNS Split Corp. II is a mutual fund corporation created to hold a portfolio of common shares of The Bank of Nova Scotia. Capital Shares and Preferred Shares of BNS Split Corp. II are listed for trading on The Toronto Stock Exchange under the symbols BSC and BSC.PR.A respectively.

%SEDAR: 00022519E