Connor, Clark & Lunn Capital Markets Inc. Declares Initial Distribution for
North American Financials Capital Securities Trust

TORONTO , Dec. 18 /CNW/ - Connor, Clark & Lunn Capital Markets Inc. today declared the first distribution for North American Financials Capital Securites Trust (the "Fund") of $0.28125 per Unit for the stub period from inception on October 23, 2009 to December 31, 2009 . The Fund's regular quarterly distribution target is $0.375 per Unit. Distributions are expected to be characterized as return of capital.

    
    -------------------------------------------------------------------------
                                                                 TSX
                                                             Trading
                                                               Price
                          Distri-                    Distri-     Per
                          bution                     bution     Unit
                          Amount                     Amount    as of
                Trading     (per   Record   Payable   Annua- Dec. 17, Current
    Fund         Symbol     Unit)    Date      Date   lized     2009    Yield
    -------------------------------------------------------------------------
    North
     American
     Financials
     Capital
     Securities
     Trust
     (Class A
     Units and
     Class F                      Dec. 31,  Jan. 15,
     Units)     NAF.UN  $0.28125     2009      2010   $1.50    $24.75    6.1%
    -------------------------------------------------------------------------
    

Connor, Clark & Lunn Capital Markets Inc. (CC&L Capital Markets) is a leading Canadian structured financial products investment firm that is focused on creating and managing high quality investment vehicles that will stand the test of time and ultimately allow our clients to achieve their personal financial goals. Formed in 2001, CC&L Capital Markets has designed, launched and currently manages sixteen investment vehicles, raising more than $1.5 billion in assets.

CC&L Capital Markets is part of the Connor, Clark & Lunn Financial Group. Connor, Clark & Lunn Financial Group provides investment management services to individuals, advisors, pension plans, institutional investors and foundations. The investment platform offers a broad range of traditional and alternative investment management services, including domestic and international equities and fixed income, hedge funds, private equity and infrastructure.

As Canada's only multi-boutique asset management firm, Connor, Clark & Lunn Financial Group is uniquely focused on creating the conditions for success for its clients, partners and employees. The firm has offices in Vancouver , Edmonton , Calgary , Regina, Toronto , Ottawa and Montreal and through its affiliated investment managers is responsible for the investment of approximately $35 billion in financial assets.

For further information: please visit www.cclcapitalmarkets.com or contact: Darren Cabral, Vice-President, Connor, Clark & Lunn Capital Markets Inc., [phone], Toll Free: 1-888-276-2258, [email protected]