HI PAYS Declares Regular Monthly Distributions to Preferred Shareholders



    TORONTO, June 5 /CNW/ - The Board of Directors of High Income Principal
And Yield Securities Corporation ("HI PAYS") today announced its regular
monthly distributions to holders of HI PAYS Preferred Shares (TSX: PAY.PR.A).
Distributions are payable June 29, 2007 to shareholders of record on June 15,
2007.

    HI PAYS invests in a diversified portfolio consisting principally of
common shares issued by corporations whose shares are included in the S&P 500
Index and the S&P/TSX Composite Index, income funds and debt securities.
Lawrence Asset Management Inc. is both Manager and Investment Manager of HI
PAYS.

    
    Distribution Details

    Distribution per Preferred Share (TSX: PAY.PR.A):                $0.1146
    Ex-Dividend Date:                                          June 13, 2007
    Record Date:                                               June 15, 2007
    Payment Date:                                              June 29, 2007
    

    %SEDAR: 00017231E




For further information:

For further information: Investor Relations, Catherine Stretch, (416)
362-6283, info@lawvest.com

Organization Profile

HIGH INCOME PRINCIPAL AND YIELD SECURITIES CORPORATION

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