Financial 15 Split Corp. II: Financial Results to May 31, 2009

Financial 15 Split Corp. II ("Financial 15 II") announces its semi-annual
financial results for the six months ending May 31, 2009.


The six month period ending May 31, 2009 was one of the most tumultuous periods
in financial market history. Against this backdrop, the market prices of the
financial services stocks in the portfolio mirrored this activity reaching lows
in early March but recovering significantly by the end of May. The net asset
value as at May 31 ended $0.59 higher to $13.72 per unit over the six month
period. Preferred shareholders received all distributions at their fixed rate
for a total of $0.2625 per share. As a result of the net asset value remaining
below the $15 threshold for the entire period, no distributions were made to
Class A shareholders.


Financial 15 II invests in a portfolio consisting of 15 financial services
companies made up of Canadian and U.S. issuers as follows: Bank of Montreal, The
Bank of Nova Scotia, CIBC, Royal Bank, Toronto-Dominion Bank, National Bank of
Canada, ManuLife Financial, Sun Life Financial, Great-West Lifeco, CI Financial
Income Fund, Bank of America, Citigroup, Goldman Sachs Group, JP Morgan & Chase,
Wells Fargo. Shares held within the Portfolio are expected to range between 4-8%
in weight but may vary from time to time.




Selected Financial Information from the Statement of Financial Operations:
For the six months ending May 31, 2009

                                                                ($ Millions)
Income                                                                2.109
Expenses                                                             (0.390)
                                                                ------------
Net investment income                                                 1.719
Realized option premiums and gain (loss) on sale of investments      (1.525)
Change in unrealized appreciation of investments                      4.873
                                                                ------------
Increase in net assets from operations before distributions           5.067



Comparative financial information is available in documents filed on www.sedar.com.

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