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

During the six months, CLC Split achieved its targeted distribution objectives for both classes of shares. The net asset value per unit (one Preferred share and one Class A share) was $23.90 as at May 31, 2008.

CLC Split invests primarily in a core portfolio of four publicly traded Canadian life insurance companies as follows: Great-West Life, Industrial Alliance, Manulife Financial and Sun Life Financial. Shares held within the portfolio are expected to range between 10-30% 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                                                                3.262
Expenses                                                             (1.585)
                                                                    --------
Net investment income                                                 1.677
Realized option premiums and gain on sale of investments              1.834
Change in unrealized depreciation of investments                    (28.252)
                                                                    --------
Decrease in net assets from operations before distributions         (24.741)

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

Contacts: Canadian Life Companies Split Corp. Investor Relations (416) 304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372) Website: www.lifesplit.com

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