LFE Canadian Life Companies Split Corp

Canadian Life Companies Split Corp. (the "Company") announces a Class A share
consolidation for all Class A shareholders of record on June 25, 2012 (the
"Consolidation") that will decrease the number of Class A shares held by each
Class A shareholder. The purpose of the share Consolidation is to maintain an
equal number of Class A shares and Preferred shares outstanding. The intrinsic
value of each investor's holdings in Class A shares will remain the same after
the Consolidation. The decrease in the number of Class A shares would be
proportionate to the increase in the net assets attributable to the Class A
shares.


As a result of the successful vote to reorganize the Preferred shares of the
Company at the recent Special Meeting of Shareholders held on April 16, 2012,
both Class A shareholders and Preferred shareholders were given a special
retraction right. This special retraction right allowed both classes of
shareholders to tender one or both classes of shares. In aggregate, there were
more Preferred shares tendered for retraction than Class A shares. Since the
Company is required to maintain an equal number of shares outstanding for each
class as per the prospectus, the Company must decrease the Class A shares to
match the number of Preferred shares.


Immediately after payments for the May and June monthly retraction and the
special retraction right on June 19, 2012, there will be 7,776,613 Preferred
shares and 10,693,243 Class A shares outstanding. In order to restore an equal
amount of shares outstanding for each class, Class A shareholders of record as
at June 25, 2012 will receive approximately 0.7272455138 Class A shares for each
Class A share outstanding. The decrease in shares (Consolidation) is a non
taxable event.


The impact of the Class A share Consolidation will be reflected in the next
reported net asset value per unit as at the June 22, 2012 Consolidation date.
Net assets of the Company after the retraction payments will be approximately
$91.7 million.

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