LBS.PR.A Life and Banc Split Corp

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. 


Life & Banc Split Corp. (TSX: LBS)(TSX:LBS.PR.A) (the "Company") is pleased to
announce it has filed a preliminary short form prospectus with respect to a
treasury offering of class A shares and preferred shares. 


Life & Banc Split Corp. invests in a portfolio of common shares of the six
largest Canadian banks ("Banks") and the four major publicly traded Canadian
life insurance companies ("Lifecos"). Currently, the portfolio consists of
common shares of the following Banks and Lifecos:




    The Bank of Nova Scotia                 Royal Bank of Canada            
                                 Industrial Alliance Insurance and Financial
    National Bank of Canada                     Services Inc.               
   The Toronto-Dominion Bank               Great-West Lifeco Inc.           
   Canadian Imperial Bank of                                                
            Commerce                   Manulife Financial Corporation       
        Bank of Montreal                  Sun Life Financial Inc.           



The investment objectives for the class A shares are to provide holders with
regular monthly cash distributions targeted to be $0.10 per class A share and to
provide the opportunity for growth in net asset value per class A share. 


The investment objectives for the preferred shares are to provide holders with
fixed cumulative preferential quarterly cash distributions in the amount of
$0.475 per annum paid in equal quarterly amounts, representing a yield on the
$10.00 par value of the preferred shares of 4.75% per annum, and to return the
original issue price to holders of preferred shares on the current maturity date
of November 29, 2018. 


The syndicate of agents for the offering is being led by RBC Capital Markets,
CIBC, Scotiabank, and TD Securities Inc., and includes BMO Capital Markets,
National Bank Financial Inc., GMP Securities L.P., Raymond James Ltd., Canaccord
Genuity Corp., Desjardins Securities Inc., Dundee Securities Ltd., and Mackie
Research Capital Corporation. 


About Brompton Funds 

Brompton Funds, a division of Brompton Group, is an experienced investment fund
manager operating since 2002. Brompton is focused on meeting the needs of
investors by offering low cost, innovative products with client friendly terms
and supported by strong corporate governance. For further information, please
contact your investment advisor, call Brompton's investor relations line at
416-642-6000 / toll-free at 1-866-642-6001/ email info@bromptongroup.com or
visit our website at www.bromptongroup.com.


This offering is only made by prospectus. A preliminary prospectus containing
important detailed information about the securities being offered has been filed
and is still subject to completion or amendment. Copies of the prospectus may be
obtained from any of the above-mentioned agents. Investors should read the
prospectus before making an investment decision. There will not be any sale of
the securities being offered until a receipt for the final prospectus has been
issued. 


Commissions, trailing commissions, management fees and expenses all may be
associated with investment funds. Please read the Company's publicly filed
documents which are available from SEDAR at www.sedar.com. Investment funds are
not guaranteed, their values change frequently and past performance may not be
repeated. 


Certain statements contained in this news release constitute forward-looking
information within the meaning of Canadian securities laws. Forward-looking
information may relate to matters disclosed in this news release and to other
matters identified in public filings relating to the Company, to the future
outlook of the Company and anticipated events or results and may include
statements regarding the future financial performance of the Company. In some
cases, forward-looking information can be identified by terms such as "may",
"will", "should", "expect", "plan", "anticipate", "believe", "intend",
"estimate", "predict", "potential", "continue" or other similar expressions
concerning matters that are not historical facts. Actual results may vary from
such forward-looking information. 


The securities offered have not been registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or any applicable exemption from the registration requirements.
This news release does not constitute an offer to sell or the solicitation of an
offer to buy securities nor will there be any sale of such securities in any
state in which such offer, solicitation or sale would be unlawful.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Brompton Funds
Investor Relations Line
416-642-6000 or Toll-Free: 1-866-642-6001
info@bromptongroup.com
www.bromptongroup.com

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