BK Canadian Banc Corp

Canadian Banc Recovery Corp. (formerly Prime Rate Plus Corp) ("the Company") announces its semi-annual financial results for the six months ending May 31, 2009.

The six month period ending May 31, 2009 was one of the most tumultuous periods in financial market history. Against this backdrop, the market prices of the Canadian bank stocks in the portfolio mirrored this activity reaching lows in early March but recovering significantly by the end of May. The net asset value as at May 31 ended $1.85 higher to $17.60 per unit over the six month period. Distributions for both classes of shareholders were made at the targeted rates during the period.

The Company invests in a portfolio of six publicly traded Canadian Banks as follows: Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada, Bank of Nova Scotia, Toronto-Dominion Bank. Shares held within the portfolio are expected to range between 5-20% in weight but may vary at any time. To generate additional returns above the dividend income earned on the portfolio, Prime Plus will engage in a selective covered call writing program.

Selected Financial Information from the Statement of Financial Operations:
For the six months ending May 31, 2009

                                                                ($ Millions)
Income                                                                4.797
Expenses                                                             (0.815)
                                                                      -----
Net investment income                                                 3.982
Realized option premiums and gain (loss) on sale
 of investments                                                     (10.046)
Change in unrealized appreciation of investments                     29.182
                                                                     ------
Increase in net assets from operations before
 distributions                                                       23.118

Comparative financial information is available in documents filed on www.sedar.com.

Contacts: Canadian Banc Recovery Corp. Investor Relations 416-304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372) www.primrateplus.com