Allbanc Split Corp. II Declares Quarterly Dividends and Revises Capital Share Dividend Policy

    TORONTO, Feb. 5 /CNW/ - The Board of Directors of Allbanc Split Corp. II
(the "Company") has declared today dividends of $0.26563 per Preferred Share
and $0.09 per Capital Share, payable on February 27, 2009 to holders of record
at the close of business on February 26, 2009.
    Holders of Preferred Shares are entitled to receive quarterly fixed
cumulative distributions equal to $0.26563 per Preferred Share. The Company
has determined to revise its Capital Share dividend policy to not pay a
dividend on the Capital Shares if the Net Asset Value at the time of
declaration, after giving effect to the dividend, is less than or equal to the
par value of the Preferred Shares. Any excess dividends received on the
underlying portfolio securities minus the dividends payable on the Preferred
Shares and all administrative and operating expenses will be reinvested in
short-term debt securities or underlying portfolio securities

    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:, 40 King Street West, 26th Floor, Toronto,
Ontario, M5W 2X6, Tel: (416) 863-5930, Fax: (416) 863-7425

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AllBanc Split Corp. II

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