LFE Canadian Life Companies Split Corp

Canadian Life Companies Split Corp. (the "Company") is pleased to announce that
it has filed a final prospectus relating to an offering of warrants ("Warrants")
to all Class A Shareholders. Each Class A Shareholder of record on January 15,
2010 will receive one Warrant for each Class A Share held. Each Warrant will
entitle the holder to purchase a "Unit" (consists of one Class A Share and one
Preferred Share) upon payment of the subscription price of $15.65 (which is the
sum of the most recently calculated NAV per Unit prior to the date of the
preliminary prospectus plus the estimated per Unit fees and expenses of the
Offering). Warrants may be exercised at any time before the earlier of i)
October 27, 2010 or ii) such date which is 20 business days from the date the
Company exercises its right to call the Warrants.


The net proceeds from the subscription of Units will be used to acquire
additional securities in accordance with the Company's investment objectives.
The exercise of Warrants by holders will provide the Company with additional
capital that can be used to take advantage of attractive investment
opportunities and is also expected to increase the trading liquidity of the
Class A Shares and the Preferred Shares and reduce the management expense ratio
of the Company.


The Warrants are being exclusively provided to all Class A Shareholders.
Warrantholders will have the opportunity to potentially acquire Units at a price
lower than the trading price in the marketplace.


Both the Preferred Shares and Class A Shares trade on the Toronto Stock Exchange
(the "TSX") under the symbol "LFE.PR.A" and "LFE" respectively. The Warrants
will be listed on the TSX under the symbol LFE.WT. It is expected the Warrants
will commence trading on an ex-distribution basis on January 13, 2010.

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