Dividend 15 Split Corp. II: Financial Results to May 31, 2008

TORONTO, ONTARIO announces its financial results for the six months ending May 31, 2008.

Dividend 15 Split II met its distribution objectives for both classes of shares. The net asset value per unit (one Preferred Share and one Class A share) was $21.01 as at May 31, 2008.

Dividend 15 invests in a high quality portfolio of leading Canadian dividend-yielding stocks as follows: Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, National Bank of Canada, CI Financial Income Fund, BCE Inc., Manulife Financial, Enbridge, Sun Life Financial, TELUS Corporation, The Thomson Corporation, TransAlta Corporation, TransCanada Corporation. Shares held within the portfolio are expected to range between 4-8% in weight but may vary at any time.


Selected Financial Information from the Statement of Financial Operations:
For the six months ending May 31, 2008

                                                               ($ Millions)

Income                                                               2.392

Expenses                                                            (0.692)
                                                                    -------

Net investment income                                                1.700

Realized option premiums and gain on sale of investments             0.198

Change in unrealized depreciation of investments                   (10.100)
                                                                   --------

Decrease in net assets from operations before distributions         (8.202)

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

Contacts: Dividend 15 Split Corp. II Investor Relations (416) 304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372) Website: www.dividend15.com

Dividend 15 Split Corp II (TSX:DF)
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