SL Split Corp. Announces Partial Call for Redemption

    TORONTO, Jan. 15 /CNW/ - SL Split Corp. (the "Company") announced today
that it has called 450 Preferred Shares for cash redemption on January 30,
2009 (in accordance with the Company's Articles) representing approximately
0.046% of the outstanding Preferred Shares as a result of the special annual
retraction of 157,500 Capital Shares by the holders thereof. The Preferred
Shares shall be redeemed on a pro rata basis, so that each holder of Preferred
Shares of record on January 29, 2009 will have approximately 0.046% of their
Preferred Shares redeemed. The redemption price for the Preferred Shares will
be $25.78 per share.
    Holders of Preferred Shares that are on record for dividends but have
been called for redemption will be entitled to receive dividends thereon which
have been declared but remain unpaid up to but not including January 30, 2009.
    Payment of the amount due to holders of Preferred Shares will be made by
the Company on January 30, 2009.  From and after January 30, 2009 the holders
of Preferred Shares that have been called for redemption will not be entitled
to dividends or to exercise any rights in respect of such shares except to
receive the amount due on redemption.

    SL Split Corp. is a mutual fund corporation created to hold a portfolio
of common shares of Sun Life Financial Inc. Capital Shares and Preferred
Shares of SL Split Corp. are listed for trading on The Toronto Stock Exchange
under the symbols SLS and SLS.PR.A respectively.

    %SEDAR: 00025943E

For further information:

For further information: Investor Relations, SL Split Corp., (416)
945-4514, E-mail:, Web site:

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