Revised Press Release - Cyclical Split NT Corp.

    The following Press Release of Cyclical Split NT Corp. has been revised
    to include the following: "The Company has currently 134,898 each of the
    Capital Shares and Preferred Shares outstanding."

    TORONTO, Dec. 17 /CNW/ - The board of directors of Cyclical Split NT
Corp. advises that the Company has purchased additional portfolio shares by
using approximately $2,000,000 from the sale proceeds of all its common shares
of Alcan Inc. shares tendered to Rio Tinto's offer at US$101.00 per share. On
October 29, 2007, the Company received a total of Cdn$2,934,116.25 for its
Alcan shares. A portion of this amount was distributed to the retracting
shareholders on December 14, 2007 and a portion has been retained by the
Company to cover future expenses. The sale of Alcan shares has contributed a
total of approximately $1,301,870 in realized capital gains in the Company's
portfolio investments, all of which is attributable to the Capital Shares over
this time period (excluding distributions).
    Following the purchase of the additional securities, the Company's
Portfolio Investment consists of:

                                               No. of securities
    Brookfield Asset Management Inc. Class A         126,021
    Canadian Pacific Railway Ltd.                     44,224
    Domtar (Canada) Paper Inc.                       150,076
    Fording Canadian Coal Trust Units                113,350
    Potash Corporation of Saskatchewan Inc.           76,737

    The Company has currently 134,898 each of the Capital Shares and
Preferred Shares outstanding.

    The Capital Shares and Preferred Shares of Cyclical Split NT Corp. are
listed for trading on the Toronto Stock Exchange under the symbols CYC and
CYC.PR.A, respectively.

For further information:

For further information: Investor Relations, Cyclical Split NT Corp.,
(416) 359-4541

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