High Income Preferred Shares Corporation TSX : HPF.PR.A TSX : HPF.PR.B

April 05, 2006 16:07 ET

HI PREFS Declares Regular Monthly Distributions

TORONTO, ONTARIO--(CCNMatthews - April 5, 2006) - The Board of Directors of High Income Preferred Shares Corporation ("HI PREFS") today announced its regular monthly distribution to holders of HI PREFS Series 1 Shares (TSX:HPF.PR.A) and HI PREFS Series 2 Shares (TSX:HPF.PR.B). Distributions are payable April 28th, 2006 to shareholders of record on April 17th, 2006.

HI PREFS invests in a diversified portfolio consisting principally of common shares issued by corporations whose shares are included in the S&P 500 Index and the S&P/TSX 60 Index, income funds and investment grade debt securities. HI PREFS shares are eligible as Canadian content. Lawrence Asset Management Inc. is both Manager and Investment Manager of HI PREFS.

Distribution Details
Distribution per Series 1 Share (TSX: HPF.PR.A):             $0.1219
Distribution per Series 2 Share (TSX: HPF.PR.B):             $0.0888
Ex-Dividend Date:                                     April 12, 2006
Record Date:                                          April 17, 2006
Payment Date:                                         April 28, 2006