TORONTO (Standard & Poor's) Nov. 5, 2004--Standard & Poor's Ratings Services today said its ratings and outlook on Laurentian Bank of Canada (Laurentian Bank; BBB+/Negative/A-2; TSX: LB) would not be affected by the company's announcement that it would divest of its interest in BLC-Edmond de Rothchild Asset Management Inc. (Not Rated) and enter into a distribution agreement with Industrial Alliance Insurance and Financial Services Inc. (A+/Stable/--). The proposed sale follows the bank's strategic decision to concentrate its activities in markets in which it has or can achieve a sustainable competitive position. The C$73 million sale price is dependent upon certain performance hurdles and the proceeds of the sale will be shared with the bank's equity partner. Although the sale will
