March 18, 2002
FOR IMMEDIATE RELEASE

AIC Diversified Canada Split Corp.

Burlington, Ontario - AIC Diversified Canada Split Corp. today announced that a quarterly cash distribution in the amount of $0.375 per preferred share of the Corporation will be paid on March 28, 2002 to preferred shareholders of record as of March 27, 2002.

For further information, please contact Erin Marof, Manager of Fund Accounting, AIC Limited, at (905) 331-4242, extension 4678.

- 30 -

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