Financial 15 Split Corp.

Financial 15 Split Corp.

March 18, 2005 09:00 ET

Financial 15 Split Corp.: Regular Monthly Dividend Declaration


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: FINANCIAL 15 SPLIT CORPORATION

TSX SYMBOL: FTN
TSX SYMBOL: FTN.PR.A

MARCH 18, 2005 - 09:00 ET

Financial 15 Split Corp.: Regular Monthly Dividend
Declaration

TORONTO, ONTARIO--(CCNMatthews - March 18, 2005) - Financial 15 Split
Corp. ("Financial 15") (TSX:FTN)(TSX:FTN.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 April 8, 2005 to shareholders on record as of March 31, 2005.

Since inception Class A shareholders have received a total of $1.60 per
share and Preferred shareholders have received a total of $0.72 per
share inclusive of this distribution, for a combined total of $2.32.

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, 2008 (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, 2008 (termination date), to pay the holders
of Class A Shares at least the original issue price of those shares.

Financial 15 invests in a high quality portfolio consisting of 15
financial services companies made up of Canadian and U.S. issuers, while
remaining Canadian content within and RSP. The issuers are as follows:
Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of
Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of
Canada, Manulife Financial Corporation, Sun Life Financial, Great-West
Lifeco, CI Fund Management, Bank of America, Citigroup Inc., JP Morgan
Chase & Co., Merrill Lynch, Wells Fargo & Co. Shares held within the
portfolio are expected to range between 4-8% in weight but may vary at
any time.



Distribution Details:

Class A Share (FTN): $0.10

Preferred Share (FTN.PR.A) $0.04375

Ex-Dividend Date: March 29, 2005

Record Date: March 31, 2005

Payable Date: April 8, 2005


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