TORONTO, ONTARIO -- (Marketwire) -- 08/20/08 -- Prime Dividend Corp. ("Prime Dividend") declares its regular monthly distribution of $0.08438 (6.75% annualized) for each Class A share which reflects the distribution policy of prime rate in Canada (4.75% as at August 15th) plus 2% annually. Prime Dividend also declares its regular monthly distribution of $0.04583 (5.50% annualized) for each Preferred share which reflects the distribution policy of prime rate plus 0.75% annually. Distributions are payable September 10, 2008 to shareholders on record as of August 29, 2008.

Since inception Class A shareholders have received a total of $3.18 per share and Preferred shareholders have received a total of $1.80 per share inclusive of this distribution, for a combined total of $4.98 per share.

Prime Dividend invests in a portfolio of high yielding Canadian Companies as follows:

                   Investment
Banks               Management     Life Insurance        Utilities & Other

Bank of Montreal   AGF Management  Great-West Lifeco     BCE Inc.
                    Ltd.            Inc.

The Bank of Nova   CI Financial    Manulife Financial    TransAlta Corp
 Scotia             Income Fund     Corp.

CIBC               IGM Financial   Sun Life Financial    TransCanada Corp
                    Inc.            Inc.

National Bank of                                         Power Financial
 Canada                                                   Corp.

Royal Bank of                                            TSX Group Inc.
 Canada

Toronto-Dominion
 Bank

Shares held within the Portfolio will generally represent no less than 4%
and no more than 8% of the net asset value.

Distribution Details:

Class A Share (PDV):              $0.08438
Preferred Share (PDV.PR.A)        $0.04583
Ex-Dividend Date:                 August 27, 2008
Record Date:                      August 29, 2008
Payable Date:                     September 10, 2008