SNP Split Corp. Partial Call for Redemption



    TORONTO, May 15 /CNW/ - SNP Split Corp. (the "Company") announced today
that it has called 7,425 Preferred Shares for cash redemption on June 4, 2009
(in accordance with the Company's Articles) representing approximately 0.500%
of the outstanding Preferred Shares as a result of the special annual
retraction of 258,750 Capital Shares by the holders thereof. The Preferred
Shares shall be redeemed on a pro rata basis, so that each holder of Preferred
Shares of record on June 3, 2009 will have approximately 0.500% of their
Preferred Shares redeemed. The redemption price for the Preferred Shares will
be US$10.25 per share.
    Holders of Preferred Shares that are on record for dividends but have
been called for redemption will be entitled to receive dividends thereon which
have been declared but remain unpaid up to but not including June 4, 2009.
    Payment of the amount due to holders of Preferred Shares will be made by
the Company on June 4, 2009. From and after June 4, 2009 the holders of
Preferred Shares that have been called for redemption will not be entitled to
dividends or to exercise any right in respect of such shares except to receive
the amount due on redemption.

    SNP Split Corp. is a mutual fund corporation created to hold a portfolio
of common shares (the "Portfolio Shares") of the companies that make up the
S&P 100 Index. Capital Shares and Preferred Shares of SNP Split Corp. are
listed for trading on The Toronto Stock Exchange under the symbols SNP.U and
SNP.PR.V respectively.

    %SEDAR: 00016247E




For further information:

For further information: Investor Relations, SNP Split Corp., (416)
945-4994, E-mail:mc_SNP@scotiacapital.com, Web site:
www.scotiamanagedcompanies.com

Organization Profile

SNP SPLIT CORP.

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