Réal Raymond to succeed André Bérard as President and Chief Executive Officer of National Bank of Canada in March 2002

Réal Raymond, currently President – Personal and Commercial Bank, has been chosen to succeed André Bérard, Chairman of the Board and Chief Executive Officer, as President and Chief Executive Officer of National Bank of Canada as of March 2002. To ensure a smooth transition, Mr. Raymond has been named President and Chief Operating Officer, effective immediately.

Mr. Raymond, who joined the Bank in 1970, has held management positions in retail banking, commercial banking and financial markets and has been President – Personal and Commercial Bank since 1999. Mr. Raymond’s appointment was decided by the Board of Directors in the context of the Bank’s senior management succession plan.

In March 2002, Mr. Bérard, who over the past 15 years has held the positions of President and Chief Operating Officer, President and Chief Executive Officer, and Chairman of the Board and Chief Executive Officer, will remain Chairman of the Board of the Bank.

National Bank of Canada is an integrated group whose mission is to provide comprehensive financial services to consumers, small and medium-sized enterprises and large corporations in its core market, while offering specialized services to its clients elsewhere in the world. The National Bank has assets of over $76 billion and, together with its subsidiaries, it employs some 16,600 people. The Bank's shares are listed on the Toronto Stock Exchange.

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