TSX/NYSE/PSE: MFCSEHK:945 TORONTO, Nov. 27, 2013 /PRNewswire/ - Manulife Asset Management Limited, the manager of Copernican World Banks Split Inc. (TSX: CBW.PR.A; CBW) ("Copernican World Banks"), today announced that due to the number of Preferred Shares retracted under the Special Retraction Right, the board of directors has decided, as described in the management information circular dated September 27, 2013, not to proceed with the Proposal and will take the necessary steps to dissolve Copernican World Banks. Copernican World Banks will redeem all Class A Shares and Preferred Shares on December 2, 2013. The payment date for the final redemption will be December 12, 2013. The Preferred Shares and Class A Shares of Copernican World Banks will be delisted from the Toronto Stock Exchange at the close of business November 28, 2013. Holders of Preferred Shares of Copernican World Banks will be entitled to receive a final redemption price per Preferred Share equal to the lesser of i) $10 plus any accrued and unpaid distributions thereon and ii) the net asset value (the "NAV") of Copernican World Banks on December 2, 2013 divided by the total number of Preferred Shares of Copernican World Banks then outstanding. Holders of Class A Shares of Copernican World Banks will be entitled to receive a final redemption price per Class A Share equal to the greater of i) the NAV per Unit on December 2, 2013 minus $10 and any accrued and unpaid distributions on a Preferred Share, and ii) nil. A Unit means a notional unit consisting of one Preferred Share and one Class A Share. The manager expects that proceeds to the Class A shareholders will be nil as a result of the final redemption. Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Corporation and/or the manager. The forward-looking statements are not historical facts but reflect the Corporation's and/or the manager's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Corporation and/or the manager believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Corporation nor the manager undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.