Mulvihill Premium Global Telecom Announces Final Redemption Prices

    TORONTO, July 8 /CNW/ - Global Telecom Split Share Corp. announced today
that the redemption prices to be paid for all Preferred Shares and Class A
Shares outstanding on the July 2, 2008 final redemption date are as follows:

    -   Redemption Price per Preferred Share     =       $12.4838

    -   Redemption Price per Class A Share       =        nil

    In addition, the Company will pay holders of Preferred Shares all accrued
and unpaid dividends to date amounting to $0.20625 per Preferred Share. The
Company expects that the redemption price and unpaid dividend will be paid to
holders of Preferred Shares on or about July 10, 2008.

For further information:

For further information: John Mulvihill, President & CEO, Don Biggs,
Senior Vice President, Mulvihill Structured Products, Premium Global Telecom,
121 King Street West, Suite 2600, Toronto, Ontario, M5H 3T9, (416) 681-3966,
(800) 725-7172,,

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