FFN.PR.A North American Financial 15 Split Corp

Financial 15 Split Corp. II ("Financial 15 II") announces its annual financial results for the year ending November 30, 2009.

The year ending November 30, 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 November. The net asset value as at November 30, 2009 ended $2.17 higher to $15.30 per unit over the prior year. The complete financial statements are available at www.financial15.com or www.sedar.com.

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 year ending November 30, 2009
                                                                ($ Millions)
Income                                                              3.581
Expenses                                                           (0.871)
                                                                ------------
Net investment income                                               2.710
Realized option premiums and gain (loss) on sale of investments    (5.276)
Change in unrealized appreciation of investments                   21.376
                                                                ------------
Increase in net assets from operations before distributions        18.810

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

Contacts: Financial 15 Split Corp. II Investor Relations 416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372) www.financial15.com