MONTREAL, QUEBEC -- (MARKET WIRE) -- 06/08/06 -- National Bank of Canada (TSX: NA) has adjusted its rates for residential mortgages. The new rates are effective as of June 9, 2006.

                        CURRENT RATE        NEW RATE
TERM                              (%)             (%)         CHANGE
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FIXED-RATE OPEN TERM
6 months open                  8.050           8.200           0.150
1 year open                    8.400           8.500           0.100

FIXED-RATE CLOSED TERM
3 months closed                6.300           6.400           0.100
6 months closed                6.250           6.400           0.150
1 year closed                  6.250           6.350           0.100
2 years closed                 6.300           6.350           0.050
3 years closed                 6.450           6.450           0.000
4 years closed                 6.550           6.550           0.000
5 years closed                 6.750           6.750           0.000
7 years closed                 7.300           7.300           0.000
10 years closed                7.550           7.550           0.000

VARIABLE-RATE CLOSED TERM
5 years Variable rate
 (discount included)           5.750           5.750           0.000
5 years Saver                  5.950           6.050           0.100
5 years Capped rate            6.000           6.000           0.000

The telephone number provided below is for the exclusive use of journalists and other media representatives.

Contacts:
National Bank of Canada
Denis Dube
Senior Director - Public Relations
(514) 394-8644