Energy Split Corp. II Inc. Declares Quarterly Distributions



    TORONTO, May 28 /CNW/ - The Board of Directors of Energy Split Corp. II
Inc. (the "Company") today declared a return of capital distribution of
$0.1718 per ROC Preferred Share payable on June 16, 2009 to holders of record
at the close of business on June 9, 2009.
    In addition, the Board of Directors of the Company has declared a return
of capital distribution of $0.1700 per Capital Yield Share payable on June 16,
2009 to holders of record at the close of business on June 9, 2009.
    Holders of ROC Preferred Shares are entitled to receive quarterly fixed
cumulative distributions equal to $0.1718 per ROC Preferred Share. The Capital
Yield Shareholders are provided with a leveraged play on the yield and price
performance from a fixed portfolio consisting of 16 oil and gas royalty trusts
listed on the Toronto Stock Exchange. The Company's Capital Yield Share
distribution policy is to pay a quarterly distribution on the Capital Yield
Shares equal to the excess of the distributions received on the royalty trust
portfolio minus the ROC Preferred Share distributions and all administrative
and operating expenses provided the net asset value per Unit at the time of
declaration, after giving effect to the distribution, would be greater than
the issue price of the ROC Preferred Shares.
    Capital Yield Shares and ROC Preferred Shares of Energy Split Corp. II
Inc. are listed for trading on The Toronto Stock Exchange under the symbols EN
and EN.PR.A respectively.


    %SEDAR: 00021250E




For further information:

For further information: Investor Relations, Energy Split Corp. II Inc.,
(416) 945-4777, E-mail: mc_energysplit2@scotiacapital.com, Web site:
www.scotiamanagedcompanies.com

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ENERGY SPLIT CORP. II INC.

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