GlobalBanc Advantaged 8 Split Corp.

GlobalBanc Advantaged 8 Split Corp.

September 19, 2011 16:16 ET

Press Release: GlobalBanc Advantaged 8 Split Corp.

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2011) - GlobalBanc Advantaged 8 Split Corp. (TSX:GBA)(TSX:GBA.PR.A) announces that no distribution will be paid on the Preferred Shares or on the Class A Shares for the quarter ending September 30, 2011.

As it did in the preceding quarters, the Board has concluded that, having regard to the Company's expenses, the anticipated cash flow is not sufficient to allow for dividend payments without possibly eroding the Fund's portfolio investments.

The Board of Directors will continue to monitor the Bloomberg Dividend Forecast, the Company's cash flow and changes in its expenses in considering whether to reinstate the dividends payable on the Preferred Shares in the future.

Unitholders are reminded that the Preferred Shares, as a class, are entitled to receive, as and when paid in the discretion of the Board of Directors of the Company, cumulative dividends not exceeding $0.1125 per share per quarter. The shortfall below the prescribed amount of the Preferred Share dividend (currently, $1.265 in aggregate) will accumulate and, in accordance with the terms of the Preferred Shares and the Class A Shares, will be paid in priority to any payments on the Class A Shares.

This press release contains forward looking statements. Forward looking statements involve risks and uncertainties and are predictive in nature and actual results could differ materially from those contemplated by the forward looking statements.

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