Barclays Global Investors Canada Ltd. announced the results of the 2006 annual redemption of capital units and combined securities for the Barclays Income and Growth Split Trust. As a result of the annual redemption, the trust will redeem a total of almost 1.2 million capital units and 150,284 combined securities (Capital units and preferred securities).

In addition, as a result of the redemption of almost 1.2 million capital units and in accordance with the prospectus, the trust called almost 1.2 million preferred securities for cash redemption. The proceeds of the redemptions of capital units and combined units will be paid by the trust on June 13. The proceeds of the call of preferred securities were paid by the trust on May 31.

The call of preferred securities represents approximately 28.6% of the outstanding preferred securities. The preferred securities were called on a pro rata basis so that each holder of Preferred Securities of record on May 30, as per the records of the Canadian Depository for Securities Ltd., had approximately 28.6% of their preferred securities redeemed.

The redemption amount for the Preferred Securities was about $10.33 per security, which represents a price of $10.30 plus interest from the date of the last distribution to May 30. From, and after, May 31, holders of preferred securities who have been called for redemption will not be entitled to interest or to exercise any right in respect of such securities except to receive the amount due on redemption.

The capital units will be redeemed at a net asset value per capital unit of about $13.13. The combined units will be redeemed at a net asset value per combined unit of $23.45. The net asset values were calculated, in accordance with the prospectus, as of the close of business on May 30, and are net of transaction costs associated with selling the underlying securities to raise cash for the redemption and, for the redemption of the capital units only, the costs associated with acquiring preferred securities.