Newfoundland Capital Corporation Limited announces declaration of dividend

    HALIFAX, Aug. 9 /CNW/ - The Board of Directors of Newfoundland Capital
Corporation Limited is pleased to announce that it has declared a dividend of
$0.15 per share on each of its Class A Subordinate Voting (NCC.A) and Class B
Common (NCC.B) shares. The dividend is payable on September 14, 2007 to
shareholders of record at the close of business on August 31, 2007.
    There are 9,832,472 Class A Subordinate Voting shares and
1,258,268 Class B Common shares outstanding.
    In accordance with tax legislation in Canada, please be advised that all
dividends paid are eligible dividends unless indicated otherwise.

    About Newfoundland Capital Corporation Limited

    Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) is one of
Canada's leading small and medium market radio broadcasters with 76 licences
across Canada. The Company reaches millions of listeners each week through a
variety of formats and is a recognized industry leader in radio programming,
sales and networking.
    %SEDAR: 00002995E

For further information:

For further information: REF: Robert G. Steele, President and Chief
Executive Officer; Scott G.M. Weatherby, Chief Financial Officer and Corporate
Secretary, Newfoundland Capital Corporation Limited, 745 Windmill Road,
Dartmouth, Nova Scotia, B3B 1C2, Tel: (902) 468-7557, Fax: (902) 468-7558,
e-mail:, Web:

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