Brompton Split Banc Corp.

Brompton Split Banc Corp.

November 16, 2005 09:19 ET

Brompton Split Banc Corp. Closes Initial Public Offering at $145,000,000

TORONTO, ONTARIO--(CCNMatthews - Nov. 16, 2005) - Brompton Split Banc Corp. (TSX:SBC.PR.A)(TSX:SBC) is pleased to announce that it has completed its initial public offering of 5,800,000 Preferred Shares at $10.00 per share and 5,800,000 Class A Shares at $15.00 per share for gross proceeds of $145,000,000. The Preferred Shares have been provisionally rated Pfd-2 by Dominion Bond Rating Service Limited. The Preferred Shares and the Class A Shares begin trading today on the Toronto Stock Exchange under the symbols SBC.PR.A and SBC respectively.

Brompton Split Banc Corp. has been created to provide investors with an equal-weighted investment in the six largest Canadian banks utilizing a split share structure on a low cost basis. Class A shareholders will receive the benefits of monthly cash distributions initially targeted to be 8.0% per annum, low management fees and the opportunity for growth in net asset value. Preferred shareholders will receive attractive quarterly distributions of 5.25% supported by the high credit quality of the underlying assets. Highstreet Asset Management Inc. has been retained to selectively write covered call and cash covered put options to generate additional distributable income for the corporation.

The syndicate of agents for the offering is being co-led by CIBC World Markets Inc. and RBC Capital Markets and includes Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Blackmont Capital Inc., Dundee Securities Corporation, Raymond James Ltd., Research Capital Corporation, IPC Securities Corporation, Wellington West Capital Inc. and Acadian Securities Incorporated.

For further information, please contact your financial advisor or visit our website at

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

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