Energy Split Corp. II Inc. Declares Quarterly Distributions

TORONTO, Nov. 25 /CNW/ - The Board of Directors of Energy Split Corp. II Inc. (the "Company") today declared a return of capital distribution of $0.1718 per ROC Preferred Share payable on December 16, 2010 to holders of record at the close of business on December 15, 2010.

In addition, the Board of Directors of the Company has declared a return of capital distribution of $0.1650 per Capital Yield Share payable on December 16, 2010 to holders of record at the close of business on December 15, 2010.

The Capital Yield Shares and the ROC Preferred Shares will be redeemed by the Company on December 16, 2010 (the "Redemption Date") in accordance with the redemption provisions as detailed in the information circular dated September 20, 2007. Pursuant to these provisions, the ROC Preferred Shares will be redeemed at a price per share equal to the lesser of $13.74 and the net asset value per unit. The Capital Yield Shares will be redeemed at a price per 2 shares equal to the amount by which the net asset value per unit exceeds $13.74. The net asset value per unit was $32.77 as at November 24, 2010.

A further press release will be issued in connection with the redemption prices on or about December 15, 2010. Payment of the amounts due to holders of Capital Yield Shares and ROC Preferred Shares will be made by the Company on December 16, 2010.

Capital Yield Shares and ROC Preferred Shares of Energy Split Corp. II Inc. are listed for trading on The Toronto Stock Exchange under the symbols EN and EN.PR.A respectively.

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For further information:

Investor Relations
Energy Split Corp. II Inc.
[phone]
E-mail: [email protected]
Web site: www.scotiamanagedcompanies.com