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Global 45 Split Corp.: Press Release

TORONTO, Oct. 22, 2008 - Global 45 Split Corp. (TSX:GFV) announces a distribution of $0.05 per Class A Share for the month ending October 31, 2008. The distribution will be paid on or before November 14, 2008 to unitholders of record on October 31, 2008.

The reduction of the distribution reflects the extraordinary conditions that global markets are currently experiencing and the Manager's belief that under such market conditions, the Corporation should adopt a much more defensive position, which includes, among other things, preserving cash levels. The appropriate level of distributions will be assessed on an on-going basis.

For further information, please contact Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.