January 21, 2002
FOR IMMEDIATE RELEASE

AIC Diversified Canada Split Corp.

Burlington, Ontario - AIC Diversified Canada Split Corp. announced today that 200 Capital Shares and 200 Preferred Shares, representing .02% of the issued and outstanding Capital Shares and Preferred Shares, respectively, were surrendered on January 17, 2002 for concurrent retraction under the regular monthly retraction privilege. In addition, 400 Preferred Shares, representing .03% of the issued and outstanding Preferred Shares were surrendered on January 17, 2002 for retraction under the regular monthly retraction privilege. In accordance with the requirements of its share provisions, AIC Diversified Canada Split Corp. is purchasing for cancellation 400 Capital Shares, representing .03% of the issued and outstanding Capital Shares, at the prevailing market price for the Capital Shares on the Toronto Stock Exchange.

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

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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