LFE Canadian Life Companies Split Corp

As stated in a previously disseminated press release on July 8, 2013, Canadian Life Companies Split Corp. ("the Company") intends to reinstate dividends on its Class A share (TSX: LFE) when the undiluted net asset value (NAV) per unit of the Company exceeds $15. The NAV as of July 23, 2013 is above $14.75.

The Board of Directors indicates that the initial dividend, if and when reinstated, will be in the amount of $0.05 per month ($0.60 per annum). This dividend once reinstated will provide a current dividend yield of 17% based on the latest closing price of LFE on the Toronto Stock Exchange. The directors have taken into account the cash flow and sustainability of the dividend in determining the amount of the dividend. Due to the Company's unique structure, the additional return to fund this payment is equivalent to a 4% return on the underlying portfolio. Future market value increases and cash flow increases will be used to increase this dividend up to $0.10 per month ($1.20 per annum) as circumstances warrant.

The Company invests primarily in the common shares of Manulife Financial, Sun Life Financial, Great-West Lifeco, and Industrial Alliance. As stated above, the current NAV of the Company today exceeds $14.75 ($13.88 fully diluted). This provides an intrinsic value for the Class A shareholder (LFE) of approximately $4.75 ($3.88 fully diluted).

Contacts: Canadian Life Companies Split Corp. Investor Relations 416-304-4443 toll free at 1-877-4-Quadra (1-877-478-2372) www.lifesplit.com

Canadian Life Companies ... (TSX:LFE)
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