Canadian Life Companies Split Corp.
TSX : LFE
TSX : LFE.PR.A

Canadian Life Companies Split Corp.

November 18, 2005 09:00 ET

Canadian Life Companies Split Corp.: Regular Monthly Dividend Declaration

TORONTO, ONTARIO--(CCNMatthews - Nov. 18, 2005) - Canadian Life Companies Split Corp. ("CLC Split")(TSX:LFE)(TSX:LFE.PR.A) declares its regular monthly distribution of $0.10 for each Class A share ($1.20 annually) and $0.04375 for each Preferred share ($0.525 annually). Distributions are payable December 9, 2005 to shareholders on record as of November 30, 2005, 2005.

Since inception Class A shareholders have received a total of $0.70 per share and Preferred shareholders have received a total of $0.33 per share inclusive of this distribution, for a combined total of $1.03.

The fund's investment objectives are:

Preferred Shares:

i. to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04375 per Preferred Share to yield 5.25% per annum on the original issue price; and

ii. on or about December 1, 2012 (termination date), to pay the holders of the Preferred Shares the original issue price of those shares.

Class A Shares:

i. to provide holders of the Class A Shares with regular monthly cash dividends initially targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price; and

ii. on or about December 1, 2012 (termination date), to pay the holders of Class A Shares at least the original issue price of those shares.

CLC Split invests in a portfolio of four publicly traded Canadian life insurance companies as follows: Great-West Life, Industrial Alliance, Manulife Financial and Sun Life Financial. Shares held within the portfolio are expected to range between 10-30% in weight but may vary at any time.

Distribution Details:

Class A Share (LFE): $0.10

Preferred Share (LFE.PR.A) $0.04375

Ex-Dividend Date: November 28, 2005

Record Date: November 30, 2005

Payable Date: December 9, 2005



Contact Information