Newfoundland Capital Corporation Limited Announces Declaration of Dividend



    HALIFAX, Dec. 6 /CNW/ - The Board of Directors of Newfoundland Capital
Corporation Limited is pleased to announce that it has declared a dividend of
$0.15 per share on each of its Class A Subordinate Voting (NCC.A) and Class B
Common (NCC.B) shares. The dividend is payable on January 31, 2008 to
shareholders of record at the close of business on December 31, 2007.
    There are 9,832,572 Class A Subordinate Voting shares and
1,258,168 Class B Common shares outstanding.
    In accordance with recent tax legislation in Canada, please be advised
that all dividends paid in 2007 and later are eligible dividends unless
indicated otherwise.

    About Newfoundland Capital Corporation Limited

    Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) is one of
Canada's leading radio broadcasters with 76 licences across Canada. The
Company reaches millions of listeners each week through a variety of formats
and is a recognized industry leader in radio programming, sales and
networking.
    %SEDAR: 00002995E




For further information:

For further information: REF: Robert G. Steele, President and Chief
Executive Officer; Scott G.M. Weatherby, Chief Financial Officer and Corporate
Secretary, Newfoundland Capital Corporation Limited, 745 Windmill Road,
Dartmouth, Nova Scotia, B3B 1C2, Tel: (902) 468-7557, Fax: (902) 468-7558,
e-mail: investorrelations@ncc.ca, Web: www.ncc.ca


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