National Bank of Canada to Redeem Preferred Shares Series 21

MONTREAL, May 24, 2013 /CNW Telbec/ - The National Bank of Canada (the "Bank") announces today its intention to redeem all of its remaining issued and outstanding Non-Cumulative 5-Year Rate Reset First Preferred Shares Series 21 (the "Preferred Shares Series 21"), on August 16, 2013, being, pursuant to the share conditions, the first date the Bank may, at its option, redeem the Preferred Shares Series 21 at a price equal to $25.00 per share, together with all declared and unpaid dividends.

Formal notice will be issued toshareholders in accordance with the share conditions. The redemption of the Preferred Shares Series 21 is subject to the approval of the Office of the Superintendent of Financial Institutions and is part of the Bank's ongoing management of its regulatory capital.

Caution Regarding Forward-Looking Statements
This press release includes certain forward-looking statements. These forward-looking statements include the Bank's intentions regarding the redemption of the Preferred Shares Series 21. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of the Bank, including the obtaining of regulatory approval required to complete the proposed redemption. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes.

About National Bank of Canada
With $185 billion in assets as at April 30, 2013, National Bank of Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada's leading integrated financial groups, and was named among the 20 strongest banks in the world by Bloomberg Markets. The Bank has close to 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities via social media and learn more about its extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.

SOURCE: National Bank of Canada