SBN S Split Corp

S Split Corp. (the "Fund") (TSX:SBN)(TSX:SBN.PR.A), has declared its monthly
distribution of $0.04375 on each of its Preferred Shares and $0.05005 on each of
its Class A shares, payable August 31, 2010 to shareholders of record as of
August 16, 2010. To the extent that any portion of the distributions are
ordinary taxable dividends and not capital gains dividends, they will be
eligible dividends.


The Fund is a mutual fund corporation which invests in a portfolio of common
shares of The Bank of Nova Scotia ("BNS Shares"). Investors in the Fund's Class
A Shares will receive leveraged exposure to the performance of The Bank of Nova
Scotia, including increases or decreases in the value of BNS Shares and
increases or decreases in the dividends paid on BNS Shares. Investors in the
Fund's Preferred Shares will receive monthly distributions on a fixed,
cumulative and preferential basis.


The investment objectives for the Class A Shares are: (i) to provide holders of
Class A Shares with regular monthly cash distributions in an amount targeted to
be 6.00% per annum on the NAV of the Class A Shares; and (ii) to provide holders
of Class A Shares with the opportunity for leveraged growth in NAV and
distributions per Class A Share.


The investment objectives for the Preferred Shares are: (i) to provide holders
of Preferred Shares with fixed cumulative preferential monthly cash
distributions in the amount of $0.04375 per Preferred Share ($0.525 per year)
representing a yield on the issue price of the Preferred Shares of 5.25% per
annum; and (ii) to return the issue price of $10.00 per Preferred Share to
holders of Preferred Shares at the time of redemption of such shares on December
1, 2014.


The Fund's investment portfolio is managed by its investment manager, Mulvihill
Capital Management Inc. The Fund's Preferred and Class A shares are listed on
The Toronto Stock Exchange under the symbols SBN.PR.A and SBN respectively. 




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Distribution Details :                                 
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Distribution per Preferred Share:       $0.04375       
Distribution per Class A Share:         $0.05005       
Payable Date:                           August 31, 2010
Record Date:                            August 16, 2010
Ex-Dividend Date:                       August 12, 2010
                                                       
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