Big 8 Split Inc. Announces Quarterly Dividends on Preferred and Capital Shares

TORONTO, ONTARIO, Jul 23 (MARKET WIRE) --
Big 8 Split Inc. (TSX: BIG.A)(TSX: BIG.PR.A) announced today that it has
declared a quarterly dividend on its Preferred Shares in the amount of
$0.28125 per Preferred Share and on its Capital Shares of $0.37 per
Capital Share. The Capital Share dividend has been set based on the
current level of dividend income on the Portfolio Shares and on the
currently anticipated level of operating expenses for Big 8 Split Inc.
The dividends are payable on September 15, 2008 to holders of record on
August 29, 2008.

Big 8 Split was established to generate dividend
income for the Preferred Shares while providing holders of the Capital
Shares with a leveraged opportunity to participate in capital
appreciation from a portfolio of common shares of Bank of Montreal, The
Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of
Canada, The Toronto-Dominion Bank, Great-West Lifeco Inc., Manulife
Financial Corporation, and Sun Life Financial Inc.

The Preferred
Shares are scheduled to be redeemed by the Company on December 15, 2008
(the "Redemption Date") in accordance with the redemption provisions as
detailed in the prospectus dated August 28, 2003. The Board of Directors
is currently reviewing alternatives to provide holders of Capital Shares
with a choice between retaining their leveraged participation in the
portfolio or having their Capital Shares redeemed as scheduled on the
Redemption Date.

Information concerning Big 8 Split Inc. is
available on our website at www.tdsponsoredcompanies.com.

The
Capital Shares and Preferred Shares of Big 8 Split are listed on the
Toronto Stock Exchange under the symbols BIG.A and BIG.pr.A respectively.

Contacts:
Big 8 Split Inc.
Investor Relations
(416) 982-2865
Website: www.tdsponsoredcompanies.com

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