MANDATE NATIONAL MORTGAGE CORPORATION - FIRST QUARTER 2011 DIVIDEND

VANCOUVER, April 28 /CNW/ - On behalf of the Board of Directors of Mandate National Mortgage Corporation ("Mandate"), Mr. Alan E. R. Long, President, is pleased to announce the dividend payment rate to shareholders of record as at March 31, 2011 is $0.1757 per share and will be paid May 16, 2011.

First quarter net income decreased to $150,005.00 or $.1757 per share compared with $180,400.00 or $.2137 per share for the same period in 2010. Revenue decreased to $198,125.00 from $224,354.00.

Return on common equity was 7.60% while return on preferred shares was 7.03%.

Mandate operates as a mortgage investment corporation under the provisions of the Income Tax Act (Canada) and invests in a diverse portfolio of residential and commercial mortgages. Mandate has provided and intends to continue to provide a high dividend yield to its shareholders through its prudent mortgage lending policy. It has been among the top performing mortgage funds for the past ten years as reported in the financial press. Mandate distributes quarterly all of its earned income to its shareholders by way of dividend.

ON BEHALF OF THE BOARD OF DIRECTORS
"Alan Long"
___________________________________
ALAN E.R. LONG, PRESIDENT
AND CHIEF EXECUTIVE OFFICER

SOURCE Mandate National Mortgage Corporation

For further information:

please contact Mr. Alan E.R. Long or Ms. Constance Kartzmark at (604) 731-2899.

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Mandate National Mortgage Corporation

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