Allbanc Split Corp. Declares Quarterly Dividends

    TORONTO, Aug. 9 /CNW/ - The Board of Directors of AllBanc Split Corp.
(the "Company") has today declared an ordinary dividend of $0.76 per Class A
Preferred Share and an ordinary dividend of $0.81 per Class A Capital Share,
payable on September 10, 2007 to holders of record at the close of business on
August 24, 2007.
    Holders of Class A Preferred Shares are entitled to receive quarterly
fixed cumulative distributions equal to $0.76 per Preferred Share. The
Company's Class A Capital Share dividend policy is to pay holders of Class A
Capital Shares quarterly dividends in an amount equal to the dividends
received by the Company on the underlying common shares in excess of the fixed
Class A Preferred Share dividends and forecasted administrative and operating
expenses of the Company.

    AllBanc Split Corp. is a mutual fund corporation created to hold a
portfolio of publicly listed common shares of selected Canadian chartered
banks. Class A Capital Shares and Class A Preferred Shares of AllBanc Split
Corp. are listed for trading on The Toronto Stock Exchange under the symbols
ABK.A and ABK.PR.C respectively.

    %SEDAR: 00009809E

For further information:

For further information: Investor Relations, AllBanc Split Corp., (416)
945-4171, E-mail:, Web site:

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AllBanc Split Corp.

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