Vanguard Announces Cash Distributions for the Vanguard ETFs (VCE, VCN, VDY, VRE, VAB, VSB, VSC, VFV, VSP, VUN, VUS, VGG, VGH, VXC, VDU, VEF, VE, VA, VEE, VBU and VBG)

Vanguard Investments Canada Inc. today announced the final December 2014 cash distributions for certain Vanguard ETFs listed below that trade on Toronto Stock Exchange (TSX). Unitholders of record on December 30, 2014 will receive cash distributions payable on January 5, 2015. Details of the “per unit” distribution amounts are as follows:

To learn more about the TSX-listed Vanguard ETFs™, please visit www.vanguardcanada.ca

About Vanguard

Vanguard Investments Canada Inc. is a wholly owned indirect subsidiary of The Vanguard Group, Inc. and manages $3.5 billion (CAD) in assets. The Vanguard Group, Inc. is one of the world's largest investment management companies and a leading provider of company-sponsored retirement plan services. Vanguard manages more than $3 trillion (USD) in global assets, including more than $442 billion (USD) in global ETF assets. Vanguard has offices in the United States, Canada, Europe, Australia, and Asia. The firm offers nearly 160 funds to U.S. investors and an additional 125 funds, including ETFs, to clients in the other markets in which the firm operates.

What sets Vanguard apart – and lets Vanguard put investors first around the world – is the ownership structure of The Vanguard Group, Inc., in the United States. Rather than being publicly traded or owned by a small group of individuals, The Vanguard Group, Inc. is owned by Vanguard’s U.S.-domiciled funds and ETFs. Those funds, in turn, are owned by their investors. This unique mutual structure aligns Vanguard interests with those of its investors and drives the culture, philosophy, and policies throughout the Vanguard organization worldwide. As a result, Canadian investors benefit from Vanguard's stability and experience, low-cost investing, and client focus. For more information, please visit vanguardcanada.ca.

All asset figures are as of November 30, 2014, unless otherwise stated.

Commissions, management fees, and expenses all may be associated with the Vanguard ETFs. This offering is only made by prospectus. The prospectus contains important detailed information about the securities being offered. Copies are available from Vanguard Investments Canada Inc. at www.vanguardcanada.ca. Please read the prospectus before investing. ETFs are not guaranteed, their values change frequently, and past performance may not be repeated.

“FTSE®” is a trademark of London Stock Exchange Group companies and is used by FTSE International Limited (“FTSE”) under licence. The Vanguard FTSE Canadian High Dividend Yield Index ETF and Vanguard FTSE Canadian Capped REIT Index ETF (the “Products”) have been developed solely by Vanguard. FTSE and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the Products and do not accept any liability whatsoever to any person arising out of an investment in or operation of the Products. FTSE makes no claim, prediction, warranty or representation either as to the results to be obtained from the Products.