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Press release from CNW Group

AllBanc Split Corp. Retains Financial Advisor

Monday, August 20, 2012

AllBanc Split Corp. Retains Financial Advisor10:05 EDT Monday, August 20, 2012TORONTO, Aug. 20, 2012 /CNW/ - Allbanc Split Corp. (the "Company") announced today that its Board of Directors has retained Scotiabank to advise the Company on a possible extension and reorganization of the Company. There is no guarantee after such review an extension will be proposed and if proposed, will be approved by shareholders.The Company is a mutual fund corporation created to hold a portfolio of publicly listed common shares of selected Canadian chartered banks.  Class A Capital Shares, and Class B Preferred Shares of AllBanc Split Corp. are listed for trading on The Toronto Stock Exchange under the symbols ABK.A and ABK.PR.B respectively.SOURCE: Allbanc Split Corp.For further information: Investor Relations AllBanc Split Corp. (416) 945-4171 E-mail: mc.allbanc@scotiabank.com Web site: www.scotiamanagedcompanies.com