Press Release:

FINANCIAL 15 SPLIT CORP. Regular Monthly Dividend Declaration TSX SYMBOLS: FTN, FTN.PR.A SUBJECT: DIV Toronto, Ontario - January 19, 2005 - 9:00 am / CCN Matthews: Financial 15 Split Corp. ("Financial 15") declares its regular monthly distribution of $0.10 for each Class A share ($1.20 annually) and $0.04375 for each Preferred share ($0.525 annually). Distributions are payable February 10, 2005 to shareholders on record as of January 31, 2005.

Since inception Class A shareholders have received a total of $1.40 per share and Preferred shareholders have received a total of $0.63 per share inclusive of this distribution, for a combined total of $2.03.
The fund's investment objectives are:

Preferred Shares:

i. to provide holders of the Preferred Shares with fixed, cumulative preferential monthly cash dividends in the amount of $0.04375 per Preferred Share to yield 5.25% per annum on the original issue price; and

ii. on or about December 1, 2008 (termination date), to pay the holders of the Preferred Shares the original issue price of those shares.

Class A Shares:

i. to provide holders of the Class A Shares with regular monthly cash dividends initially targeted to be $0.10 per Class A Share to yield 8.0% per annum on the original issue price; and

ii. on or about December 1, 2008 (termination date), to pay the holders of Class A Shares at least the original issue price of those shares.

Financial 15 invests in a high quality portfolio consisting of 15 financial services companies made up of Canadian and U.S. issuers, while remaining Canadian content within and RSP. The issuers are as follows: Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto- Dominion Bank, National Bank of Canada, Manulife Financial Corporation, Sun Life Financial, Great-West Lifeco, CI Fund Management, Bank of America, Citigroup Inc., JP Morgan Chase & Co., Merrill Lynch, Wells Fargo & Co. Shares held within the portfolio are expected to range between 4-8% in weight but may vary at any time.

Distribution Details:

Class A Share (FTN):

$0.10

Preferred Share (FTN.PR.A)

$0.04375

Ex-Dividend Date:

January 27, 2005

Record Date:

January 31, 2005

Payable Date:

February 10, 2005

For further information, please contact:

Financial 15 Split Corp. Investor Relations

Royal Trust Tower, 77 King Street West, PO Box 341, Toronto, Ontario, M5K 1K7

info@fi nan cial1 5 .com • w w w . f i na ncia l15. com • 41 6.304.4 4 4 3 • 1.877.4 78.23 72

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