Prime Rate Plus Corp. Dividend Rate Change

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Tue Jan 22, 2008 5:08pm EST 

  TORONTO, ONTARIO, Jan 22 (MARKET WIRE) -- 
 As a result of the Bank of Canada's decision today to decrease the bank
rate in Canada by 0.25%, the Prime Rate has also decreased by 0.25% to
5.75%. As a result, the February dividends payable to both Preferred
Shares and Class A shares of Prime Rate Plus are each set to decrease by
0.25%. This would result in the February Preferred share dividend once
declared being set at an annualized rate of 6.50% (Prime Rate plus 0.75%)
and the Class A share dividend being set at an annualized rate of 7.75%
(Prime Rate plus 2.0%).

    Prime Rate Plus Corp. invests in a portfolio of six publicly traded
Canadian Banks as follows:


Bank of Montreal        National Bank of Canada     Bank of Nova Scotia

Canadian Imperial       Royal Bank of Canada        Toronto-Dominion Bank
 Bank of Commerce


    Shares held within the Portfolio are expected to range between 5-20%
in weight but may vary from time to time.

    The fund's investment objectives are:

    Floating Rate Preferred Shares:

    (i) to provide holders of the Preferred Shares with cumulative
preferential floating rate monthly cash dividends at a rate per annum
equal to the Prime Rate in Canada plus 0.75% (minimum 5%, maximum 7%)
based on original issue price of $10.00 per share

    (ii) on or about December 1, 2012 (termination date), to pay the holders
of the Preferred Shares the original issue price of those shares.

    Floating Rate Class A Shares:

    (i) to provide holders of the Class A Shares with regular floating rate
monthly cash distributions targeted to be at a rate per annum equal to
the Prime Rate in Canada plus 2.0% (minimum 5%, maximum 10%) based on
original issue price of $15.00 per share

    (ii) on or about December 1, 2012 (termination date), to pay the holders
of Class A Shares at least the original issue price of those shares.

Contacts:
Prime Rate Plus Corp.
Investor Relations
(416) 304-4443 or 1-877-478-2372
Email: info@quadravest.com
Website: www.primerateplus.com

Copyright 2008, Market Wire, All rights reserved.

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