Lifeco Split Corporation Inc. Declares Quarterly Dividends and a Special Cash Dividend

    TORONTO, July 9 /CNW/ - The Board of Directors of Lifeco Split
Corporation Inc. ("Lifeco") has declared today quarterly dividends of
$0.5119 per Preferred Share and $0.1350 per Capital Share and a special cash
dividend of $0.014 per Capital Share, payable on July 31, 2008 to holders of
record at the close of business on July 30, 2008.
    Holders of Preferred Shares are entitled to receive quarterly fixed
cumulative dividends equal to $0.5119 per Preferred Share. Lifeco's Capital
Share dividend policy is to pay holders of Capital Shares quarterly dividends
in an amount equal to the dividends received on the underlying portfolio
securities minus the distributions payable on the Preferred Shares and all
administrative and operating expenses.

    Lifeco is a mutual fund corporation created to hold a portfolio of common
shares of selected publicly listed Canadian life insurance companies. Lifeco
will generate a fixed quarterly dividend for the preferred shareholders and
provide the Capital shareholders with a leveraged investment, the value of
which is linked to changes in the market price of the portfolio shares.
    Capital Shares and Preferred Shares of Lifeco are listed for trading on
The Toronto Stock Exchange under the symbols LSC and LSC.PR.C respectively.

    %SEDAR: 00014447E

For further information:

For further information: Investor Relations, Lifeco Split Corporation
Inc., (416) 945-4166, E-mail:, Website:

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Lifeco Split Corporation Inc.

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