SL Split Corp. Announces Partial Call for Redemption

TORONTO, Jan. 14 /CNW/ - SL Split Corp. (the "Company") announced today that it has called 1,950 Preferred Shares for cash redemption on January 31, 2011 (in accordance with the Company's Articles) representing approximately 0.210% of the outstanding Preferred Shares as a result of the special annual retraction of 3,900 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 January 28, 2011 will have approximately 0.210% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $25.78 per share.

In addition, holders of a further 94,800 Capital Shares and 47,400 Preferred Shares have deposited such shares concurrently for retraction on January 31, 2011. As a result, a total of 98,700 Capital Shares and 49,350 Preferred Shares, or approximately 5.0551% of both classes of shares currently outstanding, will be redeemed.

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 January 31, 2011.

Payment of the amount due to holders of Preferred Shares will be made by the Company on January 31, 2011. From and after January 31, 2011 the holders of Preferred Shares that have been called for redemption will not be entitled to dividends or to exercise any rights in respect of such shares except to receive the amount due on redemption.

SL Split Corp. is a mutual fund corporation created to hold a portfolio of common shares of Sun Life Financial Inc. Capital Shares and Preferred Shares of SL Split Corp. are listed for trading on The Toronto Stock Exchange under the symbols SLS and SLS.PR.A respectively.

SOURCE SL Split Corp.

For further information:

Investor Relations
SL Split Corp.
(416) 945-4514
E-mail: mc_slsplit@scotiacapital.com
Web site: www.scotiamanagedcompanies.com

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SL Split Corp.

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