LFE Canadian Life Companies Split Corp

As stated in a previously disseminated press release on July 8, 2013, Canadian
Life Companies Split Corp. ("the Company") intends to reinstate dividends on its
Class A share (TSX: LFE) when the undiluted net asset value (NAV) per unit of
the Company exceeds $15. The NAV as of July 23, 2013 is above $14.75.


The Board of Directors indicates that the initial dividend, if and when
reinstated, will be in the amount of $0.05 per month ($0.60 per annum). This
dividend once reinstated will provide a current dividend yield of 17% based on
the latest closing price of LFE on the Toronto Stock Exchange. The directors
have taken into account the cash flow and sustainability of the dividend in
determining the amount of the dividend. Due to the Company's unique structure,
the additional return to fund this payment is equivalent to a 4% return on the
underlying portfolio. Future market value increases and cash flow increases will
be used to increase this dividend up to $0.10 per month ($1.20 per annum) as
circumstances warrant.


The Company invests primarily in the common shares of Manulife Financial, Sun
Life Financial, Great-West Lifeco, and Industrial Alliance. As stated above, the
current NAV of the Company today exceeds $14.75 ($13.88 fully diluted). This
provides an intrinsic value for the Class A shareholder (LFE) of approximately
$4.75 ($3.88 fully diluted).


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Life Companies Split Corp.
Investor Relations
416-304-4443
toll free at 1-877-4-Quadra (1-877-478-2372)
www.lifesplit.com

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