5Banc Split Inc.
TSX : FBS.A
TSX : FBS.pr.A

5Banc Split Inc.

December 01, 2006 22:05 ET

5Banc Split Inc. Announces Final Redemption Prices of Existing Shares

TORONTO, ONTARIO--(CCNMatthews - Dec. 1, 2006) - 5Banc Split Inc. (the "Company") (TSX:FBS.A)(TSX:FBS.PR.A) today announced the redemption prices for its 813,107 Class A Preferred and Class A Capital Shares currently outstanding ("Old Preferred Shares" and "Old Capital Shares", respectively). These shares were called for redemption on October 23, 2006 and will be redeemed in accordance with their terms on December 15, 2006.

The Old Preferred Share redemption price is $25.00 per share, payable in cash, together with dividends thereon in the amount of $0.34375 which have been declared but remain unpaid up to but not including December 15, 2006. The Old Capital Share redemption price is $76.5588 per share, payable in cash, or, if a holder has previously elected, by delivery of a pro rata share of the common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank together with a cash amount equal to the holder's pro rata share of the other net assets of the Company.

On November 28, 2006 the Company filed a final prospectus for an offering of Class B Preferred Shares and Class B Capital Shares ("New Preferred Shares" and "New Capital Shares", respectively). In conjunction with this offering, and in order to enable holders of Old Capital Shares to continue their investment in the Company, such holders were offered the opportunity to acquire New Capital Shares in satisfaction of the redemption price of their Old Capital Shares. Holders of 369,988 Old Capital Shares have so elected. The number of New Capital Shares to be received for each Old Capital Share will be equal to $76.5588 (the Old Capital Share redemption price) divided by $10.00 (the issue price of the New Capital Shares). Accordingly, for each Old Capital Share held, a holder who so chose will receive 7.6559 New Capital Shares. Fractional New Capital Shares will not be issued.

The Old Preferred and Old Capital Shares of the Company are listed on the Toronto Stock Exchange under the symbols FBS.PR.A and FBS.A respectively.

The Toronto Stock Exchange has conditionally approved the listing of the New Preferred Shares under the symbol FBS.PR.B and the New Capital Shares under the symbol FBS.B. The New Preferred Shares and the New Capital Shares are scheduled to commence trading on the day of closing, which is currently scheduled for December 15, 2006.

5Banc Split Inc. was established to generate dividend income for the preferred shares while providing holders of the capital shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank.

Information concerning 5Banc Split Inc. is available on its website at www.tdsponsoredcompanies.com.

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