WFS World Financial Split Corp

World Financial Split Corp. (TSX:WFS)(TSX:WFS.PR.A) (the "Fund") is pleased to
announce that holders of Class A Shares and holders of Preferred Shares of the
Fund have approved a proposal to extend the term of the Fund for seven years
beyond its scheduled termination date of June 30, 2011, and for automatic
successive seven-year terms after June 30, 2018.


As a result, holders of Class A Shares will benefit from ongoing leveraged
exposure to a high-quality portfolio consisting principally of common equity
securities selected from the ten largest (by market capitalization) financial
services companies in each of Canada, the United States and the rest of the
world. Holders of Preferred Shares will continue to benefit from fixed
cumulative preferential quarterly cash dividends in the amount of $0.13125 per
Preferred Share representing a yield of 5.25% per annum on the original issue
price of $10.00 per Preferred Share and an attractive seven-year term.


As part of the extension of the term of the Fund, the Fund will also make other
changes, including: (i) provide a special redemption right to enable holders of
Class A Shares and Preferred Shares to retract their shares on June 30, 2011 on
the same terms that would have applied had the Fund redeemed all Class A Shares
and Preferred Shares in accordance with the existing terms of such shares; (ii)
change the monthly retraction prices for the Class A Shares and the Preferred
Shares such that monthly retraction prices are calculated by reference to market
price in addition to net asset value and to change the notice period and payment
period for the exercise of such rights and the payment of the retraction amount
relating thereto; and (iii) consolidate the Class A Shares or redeem the
Preferred Shares on a pro rata basis, as the case may be, in order to maintain
the same number of Class A Shares and Preferred Shares outstanding.


Shareholders who exercise the special redemption right will receive the amount
which they would have received had the June 30, 2011 termination date not been
extended. Payments for shares tendered pursuant to the Special Retraction Right
will be made no later than 10 business days after June 30, 2011, provided that
such shares have been surrendered for redemption on or prior to 5:00 p.m.
(Toronto time) on June 17, 2011. The retraction price per Class A Share to be
received by a holder of Class A Shares under the Special Retraction Right will
be equal to the greater of (a) the NAV per Unit on the Special Retraction Date
minus $10.00 and (b) nil. The retraction price per Preferred Share to be
received by a holder of Preferred Shares under the Special Retraction Right will
be equal to the lesser of: (a) $10.00; and (b) the NAV of the Fund divided by
the number of Preferred Shares outstanding on the Special Retraction Date. Any
declared and unpaid distributions payable on or before the Special Retraction
Date in respect of Class A Shares or Preferred Shares tendered for retraction on
the Special Retraction Date will also be paid on the retraction payment date.


Commissions, trailing commissions, management fees and expenses all may be
associated with fund investments. Please read the prospectus before investing.
Investment funds are not guaranteed, their values change frequently and past
performance may not be repeated.

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