Prime Dividend Corp.
TSX : PDV
TSX : PDV.PR.A

Prime Dividend Corp.

March 30, 2006 11:44 ET

Prime Dividend Corp.: Financial Results to November 30, 2005

TORONTO, ONTARIO--(CCNMatthews - March 30, 2006) - Prime Dividend Corp. ("Prime Dividend") announces its annual financial results for the initial period November 16, 2005 to November 30, 2005.

The primary activity during this brief two week period was to begin the process of investing the proceeds of the offering into the core 17 core equity securities below. The Company had established a portfolio of $38.1 million of investments in the core holdings representing approximately 72.5% of the Corporation's assets as at November 30, 2005 with the balance of the assets remaining in cash for further investment. The net asset value per unit (one Preferred Share and one Class A share) was $23.90 as at November 30, 2005.

Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:



Investment Life Utilities &
Banks Management Insurance Other

Bank of Montreal AGF Management Ltd. Great-West BCE Inc.
Lifeco Inc.
The Bank of Nova CI Financial Inc. Manulife TransAlta
Scotia Financial Corp. Corp
CIBC IGM Financial Inc. Sun Life TransCanada
Financial Inc. Corp
National Bank Power
of Canada Financial Corp.
Royal Bank of TSX Group Inc.
Canada
Toronto-Dominion
Bank


The fund's investment objectives are:

Floating Rate Preferred Shares:

(i) to provide holders of the Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate in Canada plus 0.75% (minimum 5%, maximum 7%) based on original issue price of $10.00 per share

(ii) on or about December 1, 2012 (termination date), to pay the holders of the Preferred Shares the original issue price of those shares.

Floating Rate Class A Shares:

(i) to provide holders of the Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate in Canada plus 2.0% (minimum 5%, maximum 10%) based on original issue price of $15.00 per share

(ii) on or about December 1, 2012 (termination date), to pay the holders of Class A Shares at least the original issue price of those shares.

Please visit our web site at www.primedividend.com.

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