Ms. Nancy Tham reports

E SPLIT CORP. COMPLETES OVERNIGHT OFFERING

E Split Corp. has completed the overnight offering of preferred shares for aggregate gross proceeds of approximately $43.8-million. The preferred shares will trade on the Toronto Stock Exchange under the existing symbol ENS.PR.A.

The preferred shares were offered at a price of $10 per preferred share to yield 7.3 per cent to maturity. In addition, Class A shares were originally offered but were not issued as the company prioritized reissuing preferred shares tendered to the recent retraction option.

The company will invest in common shares of Enbridge Inc., a North American oil and gas pipeline, gas processing, and natural gas distribution company.

The company's investment objectives for the:

Class A shares are to provide holders with:

• Non-cumulative monthly cash distributions;
• The opportunity for capital appreciation through exposure to the portfolio.

Preferred shares are to:

• Provide holders with fixed cumulative preferential quarterly cash distributions;
• Return the original issue price of $10 to holders upon maturity.