S Split Corp. Announces Year End Results

TORONTO, ONTARIO--(Marketwire - March 23, 2012) - S Split Corp. (the "Fund") (TSX:SBN)(TSX:SBN.PR.A) announces results for the year ended December 31, 2011. Net realized income before distributions amounted to $5.9 million or $1.30 per Unit. Net assets were $17.81 per Unit, net of distributions to Class A shareholders in the amount of $2.8 million or $0.59 per Class A share and distributions to Preferred Shareholders in the amount of $2.4 million or $0.53 per Preferred Share. Each Unit consists of one Preferred Share and one Class A Share.

The investment objectives for the Class A Shares are: (i) to provide holders of Class A Shares with regular monthly cash distributions targeted to be 6.00% per annum on the net asset value ("NAV") of the Class A Shares; and (ii) to provide holders of Class A Shares with the opportunity for leveraged growth in NAV and distributions per Class A Share.

The investment objectives for the Preferred Shares are: (i) to provide holders of Preferred Shares with fixed cumulative preferential monthly cash distributions in the amount of $0.04375 per Preferred Share ($0.525 per year) representing a yield on the issue price of the Preferred Shares of 5.25% per annum; and (ii) to return the issue price of $10.00 per Preferred Share to holders of Preferred Shares at the time of redemption of such shares on December 1, 2014.

The Fund invests in The Bank of Nova Scotia ("BNS") shares.

The Fund employs a proprietary investment strategy, Strathbridge Selective Overwriting ("SSO"), to enhance the income generated by the BNS shares and to reduce volatility.

The Fund's investment portfolio is managed by its investment manager, Strathbridge Asset Management Inc. The Fund's Preferred and Class A shares are listed on Toronto Stock Exchange under the symbols SBN.PR.A and SBN respectively.

For further information, please contact Investor Relations at 416.681.3966, toll free at 1.800.725.7172 or visit www.strathbridge.com.

Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the prospectus before investing. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.