US Financial 15 Split Corp.

US Financial 15 Split Corp.

March 18, 2005 09:00 ET

US Financial 15 Split Corp.: Initial Monthly Dividend Declaration


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: US FINANCIAL 15 SPLIT CORP.

TSX SYMBOL: FTU
TSX SYMBOL: FTU.PR.A

MARCH 18, 2005 - 09:00 ET

US Financial 15 Split Corp.: Initial Monthly Dividend
Declaration

TORONTO, ONTARIO--(CCNMatthews - March 18, 2005) - US Financial 15 Split
Corp. (TSX:FTU)(TSX:FTU.PR.A) ("US Financial 15") declares its initial
regular monthly distribution of $0.10 for each Class A share ($1.20
annually) and $0.06329 for each Preferred share ($0.525 annually). The
initial distribution for the Preferred share is for the period Feb 15/05
to Mar 31/05. Distributions are payable April 8, 2005 to shareholders on
record as at March 31, 2005.

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, 2012 (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, 2012 (termination date), to pay the holders
of Class A Shares at least the original issue price of those shares.

US Financial 15 invests in a high quality portfolio consisting of 15
U.S. financial services companies as follows: American Express, American
International Group, Bank of America, Citigroup, Fifth Third Bancorp,
The Goldman Sachs Group, J.P. Morgan Chase, Lehman Brothers, Merrill
Lynch, Morgan Stanley, SunTrust Banks, U.S. Bancorp, Wachovia
Corporation, Washington Mutual and Wells Fargo. Shares held within the
Portfolio are expected to range between 4-8% in weight but may vary from
time to time.



Distribution Details:

Class A Share (FTU): $0.10
Preferred Share (FTU.PR.A) $0.06329
Ex-Dividend Date: March 29, 2005
Record Date: March 31, 2005
Payable Date: April 8, 2005


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