LFE Canadian Life Companies Split Corp

Canadian Life Companies Split Corp. (the "Company") previously announced that a
proposed reorganization of Preferred Shares of the Company (the
"Reorganization") had been approved at the special meeting of shareholders held
on April 16, 2012. The special retraction right afforded to shareholders in
connection with the Reorganization has now expired and the Company expects to
complete the Reorganization on June 25, 2012. Payment of retraction price for
shares retracted pursuant to the special retraction right is expected to occur
on June 19, 2012.


In order to facilitate the Reorganization, the Company has announced the monthly
retraction date for June 2012 to be June 15, 2012. Payments for shares retracted
pursuant to May and June 2012 monthly retraction rights will also be made on
June 19, 2012.


Additional information regarding the capital reorganization is contained in the
Management Information Circular dated March 14, 2012 prepared in respect of the
special meeting, available on SEDAR at www.sedar.com or on the Company's website
www.lifesplit.com.


Certain statements included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"expect", "intend", "will" and similar expressions to the extent they relate to
the Company. The forward-looking statements are not historical facts but reflect
the Company's current expectations regarding future results or events. These
forward-looking statements are subject to a number of risks and uncertainties
that could cause actual results or events to differ materially from current
expectations. Although the Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and, accordingly, readers are cautioned not to
place undue reliance on such statements due to the inherent uncertainty therein.
The Company undertakes no obligation to update publicly or otherwise revise any
forward-looking statement or information whether as a result of new information,
future events or other such factors which affect this information, except as
required by law.

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