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Copernican British Banks Fund-Special Income Distribution

BURLINGTON, ONTARIO -- (Marketwire) -- 12/12/08 -- Copernican Capital Corp. today announced that unitholders ("Unitholders") of record of Copernican British Banks Fund (TSX: CBB.UN) (the "Trust") as at December 30, 2008 will receive a special income distribution on December 31, 2008 in the aggregate amount of approximately $0.32 per Trust unit ("Unit"). Such distribution will be paid by way of Units to all Unitholders, rather than by way of cash. Immediately following the Unit distribution, outstanding Units will be consolidated such that the number of Units outstanding will be equal to the number of Units outstanding immediately prior to the Unit distribution. After the Unit distribution and subsequent consolidation, each Unitholder will hold the same number of Units as they held before the non-cash distribution. However, the aggregate adjusted cost base of the Units held by each Unitholder will increase by the amount of the special income distribution. The actual amount of the special income distribution and the consolidation ratio of Units will be announced by way of press release on or about December 17, 2008.

Copernican Capital Corp.
Client Service Department

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