Mulvihill World Financial Split Corp.: Declares Quarterly Dividend

World Financial Split Corp. (the "Fund") (TSX: WFS)(TSX: WFS.PR.A) has declared its quarterly dividend of $0.13125 on each of its Preferred Shares and $0.30 on each of its Class A Shares payable September 29, 2006 to shareholders of record as of September 15, 2006.

The Fund is a mutual fund corporation which invests in a portfolio that includes common equity securities selected from the ten largest financial services companies by market capitalization in each of Canada, the United States and the Rest of the World (the "Portfolio Universe"). In addition, the issuers of securities in the Portfolio, other than Canadian issuers, must have a minimum credit rating of "A" from Standard & Poor's Rating Services or a comparable rating from an equivalent rating agency.

In addition, up to 20% of the Net Asset Value of the Fund may be invested in common equity securities of financial services companies not included in the Portfolio Universe as long as such companies have a market capitalization at the time of investment of at least US$10 billion and for non-Canadian issuers, a minimum credit rating of "A" from Standard & Poors Rating Service or a comparable rating from an equivalent rating agency.

To generate additional returns above the dividend income earned on the portfolio, the Fund may from time to time write covered call options in respect of all or part of the common shares in the Portfolio. In addition, the Fund may write cash covered put options in respect of securities in which the Fund is permitted to invest.

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

---------------------------------------------- Distribution Details: ----------------------------------------------

Dividend per Preferred Share: $0.13125 Dividend per Class A Share: $0.30 Payable Date: September 29, 2006 Record Date: September 15, 2006 Ex-Dividend Date: September 13, 2006 ----------------------------------------------

A member of the Mulvihill Capital Management Inc. Group of Funds

Contacts: Mulvihill Structured Products John Mulvihill President & CEO (416) 681-3966 or (800) 725-7172

Mulvihill Structured Products Don Biggs Senior Vice President (416) 681-3966 or (800) 725-7172 hybrid@mulvihill.com www.mulvihill.com

SOURCE:  Mulvihill World Financial Split Corp.

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