CI Investments announces completion of $50 million offering of CIX Split Corp.

    TSX Symbol: CIX.UN

    TORONTO, June 19 /CNW/ - CI Investments Inc. ("CI"), the manager of CIX
Split Corp. (the "Company"), today announced that the Company has completed
its initial public offering of two million Priority Equity Shares, at a price
of $10 each, and two million Class A Shares, at a price of $15 each, for total
gross proceeds of $50 million.
    The Priority Equity Shares are now trading on the Toronto Stock Exchange
under the symbol CXC.PR.A and the Class A Shares under CXC.
    The Company is an investment fund designed to provide tax-efficient
exposure to trust units of CI Financial Income Fund through two classes of
    The investment objectives for the Priority Equity Shares are to provide
tax-efficient fixed cumulative preferential monthly cash distributions of
$0.04167 per share to yield approximately 5.0% annually on the original issue
price, and to pay shareholders the original issue price on or about
January 31, 2011.
    The investment objectives for the Class A Shares are to provide regular
tax-efficient monthly cash distributions targeted to be $0.0875 per share to
yield 7.0% annually on the original issue price, and to pay shareholders at
least the original issue price on or about January 31, 2011.
    The distributions on the two classes of the Company's shares will be
tax-efficient through the use of a forward agreement, which provides for
distributions to be characterized primarily as return of capital and capital
gains. The Company's termination date of January 2011 is designed to coincide
with the expected implementation of a federal proposal to tax existing income

    CI Financial Income Fund (TSX: CIX.UN) is a diversified wealth management
company with approximately $99.5 billion in fee-earning assets as of May 31,
2007. It currently pays a monthly distribution of $0.18 per trust unit,
representing an annual yield of approximately 7.5%.

    CIBC World Markets Inc. and Blackmont Capital Inc. were the lead agents
for the offering, along with a syndicate of other investment dealers.

    CI Investments Inc., a corporation controlled by CI Financial Income
Fund, offers a broad range of investment products and services, including an
industry-leading selection of investment funds. CI is on the Web at

For further information:

For further information: David R. McBain, Senior Vice-President, CI
Investments Inc., (416) 364-1145

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