Allbanc Split Corp. II Declares Quarterly Dividends

    TORONTO, Aug. 2 /CNW/ - The Board of Directors of Allbanc Split Corp. II
(the "Company") has declared today dividends of $0.26563 per Preferred Share
and $0.07 per Capital Share, payable on August 31, 2007 to holders of record
at the close of business on August 15, 2007.
    Holders of Preferred Shares are entitled to receive quarterly fixed
cumulative distributions equal to $0.26563 per Preferred Share. The Company's
Capital Share distribution policy is to pay holders of Capital Shares
quarterly distributions in an amount equal to the distributions received by
the Company on the underlying portfolio shares in excess of the fixed
Preferred Share distributions and forecasted administrative and operating
expenses of the Company.

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

    %SEDAR: 00023067E

For further information:

For further information: Investor Relations, Allbanc Split Corp. II,
Telephone: (416) 863-5930, E-mail:, Web site:

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AllBanc Split Corp. II

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