Big 8 Split Inc. TSX: BIG.A TSX: BIG.pr.A

TORONTO, ONTARIO--(Marketwire - July 23, 2008) - 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.