Allbanc Split Corp. Declares Quarterly Dividends

TORONTO, Feb. 18 /CNW/ - The Board of Directors of AllBanc Split Corp. (the "Company") has today declared dividends of $0.3344 per Preferred Share and $0.23 per Capital Share, payable on March 10, 2010 to holders of record at the close of business on March 9, 2010.

Holders of Preferred Shares are entitled to receive quarterly fixed cumulative distributions equal to $0.3344 per Preferred Share. The Company's Capital Share dividend policy is to pay a quarterly dividend on the Capital Shares equal to the dividends received on the underlying portfolio securities minus the dividends payable on the Preferred Shares and all administrative and operating expenses provided the net asset value per Unit at the time of declaration, after giving effect to the dividend, would be greater than the original issue price of the Preferred Shares.

AllBanc Split Corp. is a mutual fund corporation created to hold a portfolio of publicly listed common shares of selected Canadian chartered banks. Class A Capital Shares and Class B Preferred Shares of AllBanc Split Corp. are listed for trading on The Toronto Stock Exchange under the symbols ABK.A and ABK.PR.B respectively.

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For further information: Investor Relations: AllBanc Split Corp., [phone], E-mail: [email protected], Web site: www.scotiamanagedcompanies.com