Canadian Life Companies Split Corp: Regular Monthly Dividend Declaration.

TORONTO -- Canadian Life Companies Split Corp. ("CLC Split") declares its regular monthly distribution of $0.10 for each Class A share ($1.20 annually) and $0.04375 for each Preferred share ($0.525 annually). Distributions are payable March 10, 2006 to shareholders on record as of February 28, 2006.

Since inception Class A shareholders have received a total of $1.00 per share and Preferred shareholders have received a total of $0.46 per share inclusive of this distribution, for a combined total of $1.46.

The fund's investment objectives are:

Preferred Shares:

i. to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04375 per Preferred Share to yield 5.25% per annum on the original issue price; and

ii. on or about December 1, 2012 (termination date), to pay the holders of the Preferred Shares the original issue price of those shares.

Class A Shares:

i. to provide holders of the Class A Shares with regular monthly cash dividends initially targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price; and

ii. on or about December 1, 2012 (termination date), to pay the holders of Class A Shares at least the original issue price of those shares.

CLC Split invests in a portfolio of four publicly traded Canadian life insurance companies as follows: Great-West Life, Industrial Alliance, Manulife Financial and Sun Life Financial. Shares held within the portfolio are expected to range between 10-30% in weight but may vary at any time.

Distribution Details:

Class A Share (LFE):               $0.10
Preferred Share (LFE.PR.A)         $0.04375
Ex-Dividend Date:                  February 24, 2006
Record Date:                       February 28, 2006
Payable Date:                      March 10, 2006

Canadian Life Companies Split Corp. (TSX:LFE) (TSX:LFE.PR.A)