PDV.PR.A Prime Dividend Corp

Prime Dividend Corp. ("Prime Dividend") announces its annual financial results for the year ending November 30, 2008.

By the end of 2008, the cumulative impact of the deterioration in financial and economic conditions created record lows in business, investor and consumer confidence and resulted in recessionary conditions throughout the world. In addition, the de-leveraging of hedge funds and other similar funds during the final months exacerbated market volatility and losses in financial markets. Market indices experienced declines not seen since the Great Depression of the 1930s. In North America, the S&P TSX 60 index declined by -27.65% for the year ending November 30, 2008.

Throughout this difficult environment, the core holdings in the portfolio have been negatively impacted. The Company met its distribution objectives during the year for both classes of shares, but the net asset value per unit declined to $14.56 per unit (a unit consisting of one Preferred share and one Class A share) as of November 30, 2008.

Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:

                  Investment                                Utilities &
Banks             Management           Life Insurance       Other

Bank of           AGF Management Ltd.  Great-West Lifeco    BCE Inc.
 Montreal                               Inc.

The Bank of       CI Financial         Manulife Financial   TransAlta Corp.
 Nova Scotia       Income Fund          Corp.

CIBC              IGM Financial Inc.   Sun Life Financial   TransCanada
                                        Inc.                 Corp.

National Bank                                               Power Financial
 of Canada                                                   Corp.

Royal Bank of                                               TSX Group Inc.
 Canada

Toronto-Dominion
 Bank

Selected Financial Information from the Statement of Financial Operations:
For the year ending November 30, 2008

                                                              ($ Millions)
Income                                                              1.886
Expenses                                                           (0.684)
                                                               ----------
Net investment income                                               1.202
Realized option premiums and gain on sale of investments            0.547
Change in unrealized depreciation of investments                  (22.136)
                                                               ----------
Decrease in net assets from operations before distributions       (20.387)

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

Contacts: Prime Dividend Corp. Investor Relations (416) 304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372) Website: www.primedividend.com