MONTREAL, QUEBEC--(Marketwire - Oct. 26, 2012) - (TSX:NA) - National Bank Securities Inc. ("NBSI"), manager of the Meritage Portfolios, today announced a change in the risk ratings of the Meritage Moderate Income Portfolio, Meritage Canadian Equity Class Portfolio and Meritage Canadian Equity Portfolio. The change is reflected in the Meritage Portfolios updated simplified prospectus, filed with Canadian securities regulators today.

The level of risk attributed to the Meritage Moderate Income Portfolio has thus been lowered from "Low to Medium" to "Low", while the risk levels of the Meritage Canadian Equity Class Portfolio and the Meritage Canadian Equity Portfolio have changed from "Medium to High" to "Medium". These changes aim to more accurately reflect the funds' actual risk levels. No changes have been made to the investment objectives, strategies or management of these funds.

About National Bank Securities

Meritage Portfolios^®(the "Portfolios") are managed by National Bank Securities Inc., a wholly owned subsidiary of National Bank of Canada. Commissions, trailing commissions, management fees and expenses all may be associated with investments in the Portfolios. Please read the prospectus of the Portfolios before investing. The Portfolios' securities are not insured by the Canada Deposit Insurance Corporation or by any other government deposit insurer. The Portfolios are not guaranteed, their values change frequently and past performance may not be repeated. "Meritage Portfolios^®" and the Meritage Portfolios logo are trademarks of National Bank of Canada, used under license by National Bank Securities Inc. All trademarks and logos of the mutual fund companies are their property. National Bank Securities Inc. is an authorized user.

About National Bank of Canada

With $180 billion in assets as at July 31, 2012, 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 five strongest banks in the world by Bloomberg Markets. The Bank has more than 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 ].

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