Canadian Life Companies Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

Canadian Life Companies Split Corp. (the "Company") announced today that the
Toronto Stock Exchange (the "TSX") has accepted its notice of intention to make
a Normal Course Issuer Bid (the "NCIB") to purchase its Preferred Shares and
Class A Shares through the facilities of the TSX. The NCIB will commence on
March 14, 2014 and terminate on March 13, 2015.


Pursuant to the NCIB, the Company proposes to purchase, from time to time, if it
is considered advisable, up to 1,337,210 Preferred Shares and 1,337,210 Class A
Shares of the Company, representing approximately 10% of the public float of
13,372,107 Class A Shares. As of March 6, 2014, there were 13,594,440 Preferred
Shares and 13,594,440 Class A Shares issued and outstanding. The Company will
not purchase, in any given 30-day period, in the aggregate, more than 271,888
Preferred Shares or more than 271,888 Class A Shares, being 2% of the issued and
outstanding Preferred Shares and Class A Shares as of March 6, 2014. Under a
normal course issuer bid that commenced on January 14, 2013 and terminated on
January 13, 2014, the Company purchased 370,100 Preferred Shares at a weighted
average price per Preferred Share of $10.12, and 370,100 Class A Shares at a
weighted average price per Class A Share of $2.51.


The Board of Directors of the Company, on the advice of Quadravest Capital
Management Inc., the Company's investment manager, believes that such purchases
are in the best interests of the Company and are a desirable use of its funds.
All purchases will be made through the facilities and in accordance with the
rules and policies of the TSX. All Preferred Shares or Class A Shares purchased
by the Company pursuant to the NCIB will be cancelled.


Canadian Life Companies Split Corp. is an investment fund managed and advised by
Quadravest Capital Management Inc. The Preferred Shares and Class A Shares of
the Company are listed in the Toronto Stock Exchange under the symbols LFE.PR.B
and LFE respectively.


Certain statements included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the expressions
"expect", "intend", "will" and similar expressions to the extent they relate to
the Company. The forward-looking statements are not historical facts but reflect
the Company's current expectations regarding future results or events. These
forward- looking statements are subject to a number of risks and uncertainties
that could cause actual results or events to differ materially from current
expectations. Although the Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking statements are not
guarantees of future performance and, accordingly, readers are cautioned not to
place undue reliance on such statements due to the inherent uncertainty therein.
The Company undertakes no obligation to update publicly or otherwise revise any
forward-looking statement or information whether as a result of new information,
future events or other such factors which affect this information, except as
required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Canadian Life Companies Split Corp.
Investor Relations
416-304-4443
Toll Free: 1-877-4-Quadra (1-877-478-2372)
www.lifesplit.com