May 3, 2002
FOR IMMEDIATE RELEASE

AIC Diversified Canada Split Corp.

Burlington, Ontario - AIC Diversified Canada Split Corp. announced today that 19,200 Capital Shares and 19,200 Preferred Shares, representing 1.52% of the issued and outstanding Capital Shares and Preferred Shares, respectively, were surrendered on May 16, 2002 for concurrent retraction under the regular monthly retraction privilege.

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Terri Oswald
Director, Media Relations
AIC Limited, Burlington ON
(905) 331-4242, ext. 4345
1-888-710-4242, ext. 4345
toswald@aic.com