BCX Split Corp. Confirms Final Redemption and Declares Quarterly Dividend



    TORONTO, July 16 /CNW/ - The Board of Directors of BCX Split Corp. (the
"Company") has declared today a quarterly preferred dividend of $0.1767,
payable on August 5, 2008 to holders of record at the close of business on
August 1, 2008.
    Holders of Preferred Shares are entitled to receive quarterly fixed
cumulative distributions equal to $0.1767 per Preferred Share. The Company's
Capital Share dividend policy is to pay holders of Capital Shares quarterly
dividends in an amount equal to the dividends received by the Company on the
BCE Inc. common shares minus the distributions payable on the Preferred Shares
and all administrative and operating expenses. No dividend was paid by BCE
Inc. during the quarter, and as a result, no dividend has been declared on the
Capital Shares.
    The Capital Shares and Preferred Shares will be redeemed by the Company
on August 5, 2008 (the "Redemption Date") in accordance with the redemption
provisions of the shares. Pursuant to these provisions, the Preferred Shares
will be redeemed at a price per share equal to the lesser of $15.71 and the
Net Asset Value per Unit. The Capital Shares will be redeemed at a price for
every share equal to the amount by which the Net Asset Value per Unit exceeds
$15.71.
    Holders of Capital Shares who requested to receive their redemption
payment in BCE Inc. common shares and gave notice to this effect and tendered
$15.71 for every Capital Share by July 7, 2008 will receive their pro rata
share of the BCE Inc. common shares. The redemption of Capital Shares and
Preferred Shares will constitute a taxable disposition of the Company's shares
at the time of the redemption whether the payment is received in the form of
cash or BCE Inc. common shares.
    A further press release will be issued by the Company in connection with
the redemption prices on August 1, 2008. Payment of the amounts due to holders
of Capital Shares and Preferred Shares will be made by the Company on August
5, 2008.

    BCX Split Corp. is a mutual fund corporation created to hold a portfolio
of common shares of the BCE Inc.. Capital Shares and Preferred Shares of BCX
Split Corp. are listed for trading on The Toronto Stock Exchange under the
symbols BCX.A and BCX.PR.A respectively.

    %SEDAR: 00019570E




For further information:

For further information: Investor Relations: BCX Split Corp., (416)
862-3734, E-mail: mc_bcxsplit@scotiacapital.com, Web site:
www.scotiamanagedcompanies.com

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BCX SPLIT CORP.

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