Press Releases

Special Dividend, Quarterly Dividends Declared
(For Release 4 p.m. EDT, October 18, 2000)

Toronto, October 18, 2000: MCM Split Share Corp. (the "Company") has declared quarterly dividends of $0.215394 on each of its Preferred Shares and $0.30 on each of its Class A shares payable on October 31, 2000 to shareholders of record on that date. In addition, the Company has declared a special dividend on each of its Class A shares of $0.25 payable on the same date for a total dividend of $0.55 to Class A shareholders.

The Company is a mutual fund corporation which invests its net assets in a diversified portfolio consisting principally of common shares issued by some or all of a group selected from the TSE 300 Index. In order to meet its investment objectives, the Company may, from time to time invest up to 20% of the cost amount of its assets in common shares issued by corporations selected from the Standard & Poor's 100 Index. To generate additional returns above the dividend income earned on the portfolio, the Company will from time to time, write covered call options in respect of all or part of the common shares in the Portfolio. In addition, the Company may write cash covered put options in respect of securities in which the Company is permitted to invest.

The Companyıs investment portfolio is managed by its investment manager, Mulvihill Capital Management Inc. The companyıs Preferred and Class A shares are listed on The Toronto Stock Exchange under the symbols MUH.PR.A and MUH.A.

Distribution Details:

Dividend per Preferred Share: $ 0.215394
Regular Dividend per Class A Share: $ 0.300000
Special Dividend per Class A Share:

$ 0.250000

Payable Date: October 31, 2000
Record Date: October 31, 2000
Ex-Dividend Date: October 27, 2000

For further information contact:
John Mulvihill, President, Mulvihill Capital Management
Donald Biggs, Vice President, Mulvihill Capital Management

MCM Split Share Corp.
121 King Street West, Suite 2600
Toronto, Ontario M5H 3T9
(416) 681-3966   (800) 725-7172