Scotia Capital FINANCIALS SUMMIT CONFERENCE 2008

Réjean Robitaille, President & CEO

Toronto – September 9, 2008

Symbol: LB, TSXPage 2

FORWARD-LOOKING STATEMENTS

In this document and in other documents filed with Canadian regulatory authorities or in other communications, Laurentian Bank of Canada (the “Bank”) may from time to time make written or oral forward-looking statements within the meaning of applicable securities legislation, including statements regarding the Bank's business plan and financial objectives. These statements typically use the conditional, as well as words such as prospects, believe, estimate, forecast, project, expect, anticipate, plan, may, should, could, would or the negative of these terms or variations of them or similar terminology. By their very nature, forward-looking statements are based on assumptions and involve inherent risks and uncertainties, both general and specific in nature. It is therefore possible that the forecasts, projections and other forward-looking statements will not be achieved or will prove inaccurate. Although the Bank believes that the expectations reflected in these forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct.

The Bank cautions readers against placing undue reliance on forward-looking statements when making decisions, as the actual results could differ appreciably from the opinions, plans, objectives, expectations, forecasts, estimates and intentions expressed in such forward-looking statements due to various material factors. Among other things, these factors include capital market activity, changes in government monetary, fiscal and economic policies, changes in interest rates, inflation levels and general economic conditions, legislative and regulatory developments, competition, credit ratings, scarcity of human resources and technological environment. The Bank cautions that the foregoing list of factors is not exhaustive. For more information on the risk, uncertainties and assumptions that would cause the Bank's actual results to differ from current expectations, please also refer to the Bank's public filings available at www.sedar.com.

The Bank does not undertake to update any forward-looking statements, whether oral or written, made by itself or on its behalf, except to the extent required by securities regulations.

NON-GAAP FINANCIAL MEASURES The Bank uses both generally accepted accounting principles (“GAAP”) and certain non-GAAP measures to assess its performance. Non-GAAP measures do not have any standardized meaning and are unlikely to be comparable to any similar measures presented by other companies. The Bank believes that these non-GAAP financial measures provide investors and analysts with useful information so that they can better understand financial results and analyze the Bank’s growth and profitability potential more effectively.

For questions on this presentation, please contact:Gladys Caron, Vice-President, Public Affairs, Communications and Investor RelationsTel: 514 284-4500, extension 7511 • Cell: 514 893-3963gladys.caron@banquelaurentienne.ca

Symbol: LB, TSXPage 3

KEY STRENGTHS

1. Solid financial situation and lower risk profile

2. Efficient management approach

3. Improving results

Symbol: LB, TSXPage 4

SOLID FINANCIAL SITUATION AND LOWER RISK PROFILE

Strong balance sheet

Personal deposits represent more than 80% of total deposits

High level of liquidity

$4.5 billion in cash, deposits, securities accounts and repos

Strong capital ratios(as at July 31, 2008)

Tier 1 capital ratio: 10.1%

Total capital ratio: 12.1%

Funding sources to support lending activities

(July 31, 2008)

Pers. notice and demand

deposits11%

Bus., banks and other deposits

14%

Securitization12%

Share. equity6%

Sub. debentures

1%

Pers. term deposits

56%

Symbol: LB, TSXPage 5

SOLID FINANCIAL SITUATION AND LOWER RISK PROFILE

Minimal exposure to ABCP

No direct exposure to U.S. mortgage market nor subprime market

Predominant retail loan book

High proportion of insured mortgages

Diversified geographicallyQuebec

59%

Rest of Canada

41%

Loan portfolios(July 31, 2008)

Geographic distribution of loans(October 31, 2007)

Commercial mortgages, commercial loans and

BAs19%

Personal loans38%

Residential mortgages

43%

Symbol: LB, TSXPage 6

SOLID FINANCIAL SITUATION AND LOWER RISK PROFILE

Evolution of gross and net impaired loans

227

185

127 121131

104 103

922

-13 -9

5

-11 -13-50

0

50

100

150

200

250

2002 2003 2004 2005 2006 2007 9 months2008

In m

illio

ns

of

$

Gross impaired loans Net impaired loans

Symbol: LB, TSXPage 7

EFFICIENT MANAGEMENT APPROACH

Growth engines focus with strong and distinctive positioning :

Retail & SME Quebec

B2B Trust

Real Estate Financing

All decisions and actions guided by our 3 priorities:

Profitability increase

Efficiency improvement

Human capital development

Symbol: LB, TSXPage 8

EFFICIENT MANAGEMENT APPROACH

Growth engines focus with strong and distinctive positioning :

Retail & SME Quebec

B2B Trust

Real Estate Financing

All decisions and actions guided by our 3 priorities:

Profitability increase

Efficiency improvement

Human capital development

Strong execution is key

Symbol: LB, TSXPage 9

IMPROVING RESULTS

Portfolio growthLast 12 months as at July 31, 2008 (consolidated)

Strong growth in all portfolios

+ 9%+ $1,287

+ 17%+ $389

+ 10%+ $476

+ 5%+ $626

- 4 %- $240

+ 12%+ $1,696

+ 11%+ $830

-500

0

500

1000

1500

2000

Total loans andBAs

Residentialmortgages

Personal loans Commercialmortgages,

commercial loansand BAs

Total deposits

In m

illi

on

s o

f $

Excluding securitization

Symbol: LB, TSXPage 10

IMPROVING RESULTS

Q3 2008 financial highlights

(1) The third quarter of 2008 included two significant items: a) net gain on the sale of securities of $7.6 million, or $7.4 million net of income taxes, resulting from the gain on the sale of the Montreal exchange shares of $12.9 million, partially offset by losses on other securities of $5.3 million; b) increase in the general provision for loan losses of $8.0 million, or $5.5 million net of income taxes.

In millions of $ Q3 2008 Q3 2007except per share amounts Q3 08 vs

Q3 07

Net interest income 103.4 101.8 2%Other income 67.7 49.3 37%Total revenue 171.1 151.0 13%

Provisions for credit losses 18.5 10.0 85%Non-interest expenses 113.5 108.4 5%Income taxes 8.1 9.5 -15%Net income from continuing operations 30.9 23.2 33%

Preferred shares dividends 3.0 3.0 -1%

Net income available to common shareholders 28.0 20.2 39%

Diluted EPS $1.17 $0.85 38%Return on equity 13.4% 10.5%

Efficiency ratio 66.4% 71.8%Effective tax rate 20.8% 29.1%

Significant items (1)

Net gain on sale of securities 7.4Increase in general provision -5.5

Excluding significant itemsNet income available to common shareholders 26.0 20.2 29%Diluted EPS $1.09 $0.85 28%Return on equity 12.4% 10.5%

Efficiency ratio 69.4% 71.8%Effective tax rate 26.6% 29.1%

Variation

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IMPROVING RESULTS

Business segments performance 3rd quarter 2008

(1) The business segment Other includes approximately 650 employees working in Treasury, Credit, Finance, Administration and Strategic Development, Corporate Affairs and Human Resources.

(2) Percentage of net income contribution from the four business segments, excluding the segment Other.

N.A.: non applicable.

Retail &SME Quebec

Real Estate & Commercial

B2B Trust LBS Other (1) TOTAL

Total revenue

(growth Q3 2008 versus Q3 2007)

$107.5 M

+ 7%

$18.3 M

+ 19%

$24.7 M

+ 4%

$9.9 M

+ 16%

$10.7 M

N.A.

$171.1 M

+ 13%

Net income

(growth Q3 2008 versus Q3 2007)

$11.6 M

+ 11%

$7.7 M

+ 42%

$9.2 M

+ 14%

$1.1 M

+ 91%

$1.3 M

N.A.

$30.9 M

+ 33%

Total net income contribution (2)

39% 26% 31% 4% N.A. 100%

Symbol: LB, TSXPage 12

IMPROVING RESULTS

473 510 540 584 623

377 390 411 427 439

0100200300400500600700

2004 2005 2006 2007 LTM2008

Total revenue Non-interest expenses

4065 70

95 1051.33

2.262.48

3.483.92

0

20

40

60

80

100

120

2004 2005 2006 2007 LTM2008

0.0

1.0

2.0

3.0

4.0

Net income Diluted EPS

13.4%

10.9%8.2%7.8%

4.6%

3.4%

12.4%

9.4%7.5%

6.4%

0.0%2.0%4.0%6.0%8.0%

10.0%12.0%14.0%

2004 2005 2006 2007 Q32008

GAAP Core activities only

69.7%

73.2%

76.1%76.4%

79.6%

68.0%

70.0%

72.0%

74.0%

76.0%

78.0%

80.0%

2004 2005 2006 2007 9months

2008

Total revenue & non-int. exp. ($ M)

Net income ($ M) & EPS ($)

Return on equity (ROE)

Efficiency ratio

Performance indicators

In m

illio

ns

of

$

In $

Delivering good results on a sustainable basis

Symbol: LB, TSXPage 13

IMPROVING RESULTS

1.64%

1.99%

2.14%

2.31%2.23%

1.86%1.73%

1.58%1.49% 1.52%

1.00%

1.20%

1.40%

1.60%

1.80%

2.00%

2.20%

2.40%

2004 2005 2006 2007 9 monthsended July 31,

2008

Laurentian Bank Average 6 large Canadian banks

Evolution of net interest margin

Symbol: LB, TSXPage 14

IMPROVING RESULTS

0.29 0.29 0.29 0.29

0.32 0.32 0.32

0.34

0.26

0.27

0.28

0.29

0.30

0.31

0.32

0.33

0.34

0.35

Q12007

Q22007

Q32007

Q42007

Q12008

Q22008

Q32008

Q42008

Dec

lare

d d

ivid

end

in

$ Last week, the Bank increased its quarterly dividend by 6%

Solid financial condition

Continued improvement in earnings

Management and board of directors’ confidence in the Bank’s future

Dividend increase

Symbol: LB, TSXPage 15

IMPROVING RESULTS

DBRS recently upgraded all Laurentian Bank’s credit ratings.

Standard & Poor’s revised the Bank’s outlook from “stable” to “positive”.

Credit ratings

New DBRS rating Old DBRS rating

Short-Term Instruments R-1 (low) R-2 (high)

Deposits & Senior Debt BBB (high) BBB

Subordinated Debt BBB BBB (low)

Cumulative Preferred Shares Pfd-3 (high) Pfd-3

Non-Cumulative Preferred Shares Pfd-3 (high) Pfd-3

Symbol: LB, TSXPage 16

2008 OBJECTIVES

N.B. The objectives above are solely intended to provide the reader with information about how management measures its performance. It is not intended to disclose the Bank's expectations for future financial results.

2008OBJECTIVES

9 MONTHS ENDEDJULY 31, 2008

Return on equity 9.5% to 10.5% 10.9%

Diluted net income per share $3.30 to $3.60 $2.78

Total revenue + 5% ($615 M) + 9% ($477.7 M)

Efficiency ratio 74% to 72% 69.7%

Tier 1 capital ratio Minimum of 9.5% 10.1%

Symbol: LB, TSXPage 17

2008 OBJECTIVES

N.B. The objectives above are solely intended to provide the reader with information about how management measures its performance. It is not intended to disclose the Bank's expectations for future financial results.

2008OBJECTIVES

9 MONTHS ENDEDJULY 31, 2008

Return on equity 9.5% to 10.5% 10.9%

Diluted net income per share $3.30 to $3.60 $2.78

Total revenue + 5% ($615 M) + 9% ($477.7 M)

Efficiency ratio 74% to 72% 69.7%

Tier 1 capital ratio Minimum of 9.5% 10.1%

Long-term objective: sustainable double-digit return

Symbol: LB, TSXPage 18

DEVELOPMENT STRATEGIES

1. Organic growthresulting from particular emphasis on promising sectors that will accelerate profitability growth

Symbol: LB, TSXPage 19

DEVELOPMENT STRATEGIES

1. Organic growthresulting from particular emphasis on promising sectors that will accelerate profitability growth

2. Investments in information technology and infrastructuresto ensure long-term development

Symbol: LB, TSXPage 20

DEVELOPMENT STRATEGIES

1. Organic growthresulting from particular emphasis on promising sectors that will accelerate profitability growth

2. Investments in information technology and infrastructuresto ensure long-term development

3. Improvements and automation of processes and operationsto further simplify clients’ banking experience and reduce administrative tasks

Symbol: LB, TSXPage 21

DEVELOPMENT STRATEGIES

1. Organic growthresulting from particular emphasis on promising sectors that will accelerate profitability growth

2. Investments in information technology and infrastructuresto ensure long-term development

3. Improvements and automation of processes and operationsto further simplify clients’ banking experience and reduce administrative tasks

4. Deployment of our highly customer-focused culture and development of our sales-performance culture

Symbol: LB, TSXPage 22

CONCLUSION

Results are improving quarter after quarter

Strategies and actions are well focused and targeted

Our 3 strategic priorities are well understood and remain at the forefront of all decisions and actions

Symbol: LB, TSXPage 23

CONCLUSION

Results are improving quarter after quarter

Strategies and actions are well focused and targeted

Our 3 strategic priorities are well understood and remain at the forefront of all decisions and actions

Our goal is clear: improve our performance on a sustainable and long-term basis

Symbol: LB, TSXPage 24

QUESTIONS & ANSWERS