TORONTO, ONTARIO--(Marketwire - Dec. 23, 2011) - First Asset CanBanc Split Corp. (the "Fund") confirms the following distributions:

1. in respect of the Preferred Shares (TSX:CBU.PR.A), a distribution of $0.1625 per Preferred Share payable to Preferred Shareholders of record on December 30, 2011. The distribution will be paid on or before January 13, 2012; and

2. in respect of the Class A Shares (TSX:CBU), a special distribution of $0.875 per Class A Share payable to Class A Shareholders of record on December 30, 2011. The distribution will be paid on December 30, 2011.