S Split Corp. Declares Monthly Distribution

S Split Corp. (the "Fund") (TSX: SBN.PR.A)(TSX: SBN), has declared its monthly distribution of $0.04375 on each of its Preferred Shares and $0.06505 on each of its Class A shares, payable November 30, 2007 to shareholders of record as of November 15, 2007. 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 net asset value ("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.

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Distribution Details :
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Distribution per Preferred Share:          $0.04375
Distribution per Class A Share:            $0.06505
Payable Date:                              November 30, 2007
Record Date:                               November 15, 2007
Ex-Dividend Date:                          November 13, 2007

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A member of the Mulvihill Capital Management Inc. Group of Funds.

Contacts: Mulvihill Structured Products John Mulvihill President & CEO (416) 681-3966 or 1-800-725-7172 Mulvihill Structured Products Don Biggs Senior Vice President (416) 681-3966 or 1-800-725-7172 Email: hybrid@mulvihill.com Website: www.mulvihill.com