CC&L ROC Pref Corp.

December 08, 2006 16:55 ET

CC&L ROC Pref Corp. 'TSX:RPQ.PR.A' Declares Quarterly Distribution

TORONTO, ONTARIO--(CCNMatthews - Dec. 8, 2006) - The Board of Directors of CC&L ROC Pref Corp. ("the Company") (TSX:RPQ.PR.A) has declared a cash distribution of $0.29375 per Preferred Share consisting of a return of capital on such Preferred Shares equal to $0.29375 per share payable on December 29, 2006 to holders of record at the close of business on December 20, 2006.

CC&L ROC Pref Corp. is a mutual fund corporation that issued 5-year redeemable, retractable cumulative P-1 (Low) rated Preferred Shares which mature on or about June 30, 2011. The Company used the proceeds to gain exposure, by way of an equity forward sale agreement, to an A- rated structured note that offers credit exposure to an equally weighted portfolio of 127 investment grade rated companies.

The Preferred Shares are listed for trading on the Toronto Stock Exchange under the symbol RPQ.PR.A.

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