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Laurentian Bank of Canada Announces Issue of Medium Term Notes

Not for distribution to U.S. news wire services or dissemination in the United States.

MONTREAL, Oct. 15, 2012 /CNW Telbec/ - Laurentian Bank of Canada (LB: TSX) announced today the issuance in Canada of $200,000,000 principal amount of 2012-1 3.132% Medium Term Notes (subordinated indebtedness) due October 19, 2022 under its Medium Term Note Program. The 2012-1 Medium Term Notes will be issued pursuant to a Short Form Base Shelf Prospectus dated October 10, 2012, a Prospectus Supplement dated October 12, 2012 establishing the MTN Program (aggregate principal amount of $500,000,000) and a related Pricing Supplement to be filed in connection with this issue.

The 2012-1 Medium Term Notes will bear interest at a fixed rate of 3.132% per annum (paid semi-annually) until October 19, 2017, and, thereafter, at the three-month bankers' acceptance rate plus 1.46% per annum (paid quarterly) until maturity on October 19, 2022, unless redeemed by Laurentian Bank.

Laurentian Bank may, at its option, with the prior approval of the Office of the Superintendent of Financial Institutions Canada, redeem the 2012-1 Medium Term Notes at par on or after October 19, 2017.

The issuance of the 2012-1 Medium Term Notes is expected to close on October 19, 2012. Net proceeds from the issue will be added to the Bank's general funds and will be used for general banking purposes.

Laurentian Bank Securities is acting as lead agent for the issue.

About Laurentian

Laurentian Bank of Canada is a pan-Canadian banking institution that has more than $35 billion in balance sheet assets and over $32 billion in assets under administration. Founded in 1846, Laurentian Bank was selected as the Québec and Atlantic Canada regional winner of the Canada's 10 Most Admired Corporate Cultures program presented by Waterstone Human Capital. The Bank employs more than 4,000 people.

Recognized for its excellent service, proximity and simplicity, Laurentian Bank serves more than one million clients in market segments in which it holds an enviable position. In addition to occupying a choice position among consumers in Québec, where it operates the third largest branch network, the Bank has built a solid reputation across Canada in the area of real estate and commercial financing thanks to its teams working out of more than 35 offices in Ontario, Québec, Alberta and British Columbia. Its subsidiary, B2B Bank, is a Canadian leader in providing banking products to financial advisors and brokers, while Laurentian Bank Securities is an integrated broker, widely recognized for its expertise and effectiveness nationwide.

Gladys Caron Vice-President, Public Affairs, Communications and Investor Relations 514 284-4500, extension 7511 514-893-3963


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-0- Oct/15/2012 18:09 GMT

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