Prime Dividend Corp.: Announces Special Meeting of Shareholders

The Board of Directors of Prime Dividend Corp. ("The Company") today announced
that a special meeting of the holders of the Company's Preferred Shares and
Class A Shares will be held at 11:00 a.m. (Eastern standard time) on Thursday,
November 3, 2011. The purpose of the meeting is to consider a special resolution
to extend the mandatory termination date for the Company from December 1, 2012
to December 1, 2018. Shareholders of record at the close of business on
September 29, 2011 will be provided with the notice of meeting and management
information circular in respect of the meeting and will be entitled to vote at
the meeting.


If the extension is approved, Class A Shareholders and Preferred Shareholders
will be provided with a Special Retraction right which is designed to provide
Shareholders with an opportunity to retract their Shares and receive a
retraction price that is calculated in the same way that such price would be
calculated if the Company were to terminate on December 1, 2012 as originally
contemplated.


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




                        Investment                                          
Banks                   Management       Life Insurance   Utilities & Other 
                                       Great-West Lifeco                    
Bank of Montreal   AGF Management Ltd.        Inc.             BCE Inc.     
                                       Manulife Financial                   
Bank of Nova Scotia CI Financial Corp.       Corp.          TransAlta Corp  
                                       Sun Life Financial                   
CIBC                IGM Financial Inc.        Inc.         TransCanada Corp 
National Bank of                                           Power Financial  
Canada                                                          Corp.       
Royal Bank of                                                               
Canada                                                      TMX Group Inc.  
Toronto-Dominion                                                            
Bank                                                                        
                                                                            
Shares held within the Portfolio will generally represent no less than 4%   
and no more than 8% of the net asset value.

Prime Dividend (TSX:PDV.PR.A)
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