October 20, 2008 09:00 ET

Prime Dividend Corp.: Regular Monthly Dividend Declaration

TORONTO, ONTARIO--(Marketwire - Oct. 20, 2008) - Prime Dividend Corp. ("Prime Dividend") declares its regular monthly distribution of $0.07850 (6.28% annualized) for each Class A share which reflects the distribution policy of prime rate in Canada (average of 4.28% as at October 15th) plus 2% annually. Prime Dividend also declares its regular monthly distribution of $0.04192 (5.03% annualized) for each Preferred share which reflects the distribution policy of prime rate plus 0.75% annually. Distributions are payable November 10, 2008 to shareholders on record as of October 31, 2008.

Since inception Class A shareholders have received a total of $3.34 per share and Preferred shareholders have received a total of $1.89 per share inclusive of this distribution, for a combined total of $5.23 per share.

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

Banks              Investment           Life               Utilities
                    Management           Insurance          & Other



Bank of Montreal   AGF Management Ltd.  Great-West         BCE Inc.
                                          Lifeco Inc.



The Bank of        CI Financial         Manulife           TransAlta Corp
 Nova Scotia        Income Fund          Financial Corp.



CIBC               IGM Financial Inc.   Sun Life           TransCanada Corp
                                         Financial Inc.



National Bank                                              Power Financial
 of Canada                                                  Corp.



Royal Bank                                                 TSX Group Inc.
 of Canada 



Toronto-
 Dominion Bank 

Shares held within the Portfolio will generally represent no less than 4% and no more than 8% of the net asset value.

Distribution Details:


Class A Share (PDV):               $0.07850


Preferred Share (PDV.PR.A)         $0.04192


Ex-Dividend Date:                  October 29, 2008


Record Date:                       October 31, 2008


Payable Date:                      November 10, 2008