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GlobalBanc Advantaged 8 Split Corp. Confirms Final Redemption

TORONTO, ONTARIO -- (Marketwire) -- 11/20/12 -- GlobalBanc Advantaged 8 Split Corp. (the "Company") (TSX:GBA)(TSX:GBA.PR.A) confirms that the Company will terminate on December 17, 2012 (the "Final Redemption Date") in accordance with its articles.

Until the Final Redemption Date, the Company will continue to pursue its investment strategy by providing exposure, through the use of a forward agreement, to a portfolio of eight international banks. The forward agreement will be settled on the Final Redemption Date in connection with the termination of the Fund.

The Class A Shares and the Preferred Shares will be redeemed by the Company on the Final Redemption Date in accordance with the redemption provisions of the shares. Pursuant to these provisions, the Preferred Shares will be redeemed at a price per share equal to the lesser of $10.00, plus any accrued and unpaid distributions on a Preferred Share and the net asset value (the "NAV") per Preferred Share as at the Final Redemption Date. The Class A Shares will be redeemed at a price for every Class A Share equal to the amount, if any, by which the NAV per Unit, being one Class A Share and one Preferred Share, exceeds $10.00 and any accrued and unpaid distributions on a Preferred Share as at the Redemption Date. If the NAV per Unit is less than or equal to $10.00 and any accrued and unpaid distributions on a Preferred Share, the Class A Shares will have no value on redemption. As at November 16, 2012, the Company's NAV per Unit was $4.39.

All redemption payments (if any) are expected to be made on or about December 28, 2012. It is expected that the Class A Shares and the Preferred Shares will be delisted from the Toronto Stock Exchange at the close of trading on December 17, 2012.

Contacts:
First Asset (the Company's Administrator)
Rob MacNiven
Investor Relations
416-642-1289 or 1-877-642-1289
www.globalbancsplit.com

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