Copernican Capital Corp.

Copernican Capital Corp.

March 30, 2006 10:29 ET

Copernican World Banks Income and Growth Trust Raises Total Gross Proceeds of $53,170,000 After Over-Allotment Option of $3,170,000

BURLINGTON, ONTARIO--(CCNMatthews - March 30, 2006) -

This press release is not for distribution in the United States.

Copernican Capital Corp. is pleased to announce that Copernican World Banks Income and Growth Trust (the "Trust") has issued an additional 317,000 units of the Trust ("Units") for gross proceeds of $3,170,000 pursuant to the exercise by the agents of their over-allotment option. Including the over-allotment option, total gross proceeds of the Trust's initial public offering were $53,170,000.

The Units trade on the Toronto Stock Exchange under the symbol "CBK.UN".

The Trust is a closed-end investment trust whose investment objectives are:

(i) to provide Unitholders with monthly cash distributions (which for the initial 12 months of the Trust is expected to be $0.70 per Unit, representing a yield of 7% per annum based on the $10.00 per unit issue price, and commencing in February 2007 will be determined and announced by the Trust on an annual basis); and

(ii) to preserve and enhance the net asset value of the Trust.

AIC Investment Services Inc. (the "Investment Manager") will be responsible for the Trust's overall investment strategy. The Trust will invest in an actively managed diversified portfolio of securities consisting of common shares of some of the world's leading global bank-based financial services companies.

As at January 16, 2006, the Investment Manager's assets under management totalled approximately $9.1 billion of which approximately $4.3 billion was invested in the global financial services industry.

The offering was made through a syndicate of agents, led by CIBC World Markets Inc. and that included RBC Dominion Securities Inc., National Bank Financial Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., TD Securities Inc., Berkshire Securities Inc., HSBC Securities (Canada) Inc., Canaccord Capital Corporation, Desjardins Securities Inc., Bieber Securities Inc., Blackmont Capital Inc., Dundee Securities Corporation, Raymond James Ltd. and Wellington West Capital Inc.

AIC commenced operations in 1985 and has grown to become Canada's largest privately-held mutual fund company with assets under management exceeding $9 billion.

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