AIC Diversified Canada Split Corp.: Press Release.

BURLINGTON, Ontario -- AIC Diversified Canada Split Corp. (TSX:ADC.PR.A) (TSX:ADC) today announced that a quarterly cash distribution in the amount of $0.375 per preferred share of the Corporation will be paid on June 30, 2004 to preferred shareholders of record as of June 29, 2004.

AIC Diversified Canada Split Corp. also announced that 7,800 Capital Shares and 7,800 Preferred Shares, representing 0.70% of the issued and outstanding Capital Shares and Preferred Shares, respectively, were surrendered on June 16, 2004 for concurrent retraction under the regular monthly retraction privilege. In addition, 3,100 Capital Shares, representing .28% of the issued and outstanding Capital Shares and 1,200 Preferred Shares, representing .11% of the issued and outstanding Preferred Shares, were surrendered on June 16, 2004 for retraction under the regular monthly retraction privilege. In accordance with the requirements of its share provisions, AIC Diversified Canada Split Corp. is purchasing for cancellation 3,100 Preferred Shares, representing .28% of the issued and outstanding Preferred Shares and 1,200 Capital Shares, representing .11% of the issued and outstanding Capital Shares, at the prevailing market price for the Preferred Shares and Capital Shares on the Toronto Stock Exchange.