Newfoundland Capital Corporation Limited announces declaration of dividend

    DARTMOUTH, NS, Aug. 7 /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 October 3, 2008
to shareholders of record at the close of business on September 5, 2008.
    There are 9,733,189 Class A Subordinate Voting shares and 1,257,551
Class B Common shares outstanding.
    In accordance with recent tax legislation in Canada, please be advised
that all dividends paid in 2007 and later 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 radio broadcasters with 77 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
    %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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