Issuer:

Central Fund of Canada Limited (“Central Fund” or the “Company”).

Issue:

14,350,000 non-voting, fully-participating Class A shares (the “Shares”).

Issue Size:

US$320,005,000.

Offering Price:

US$22.30 per Share.

Right:

The Underwriters have been granted the right to increase the size of the Issue by up to an additional 1,800,000 Shares, exercisable in whole or in part, at any point prior to 4:00 pm (EST) on March 30, 2011.

Pre-Issue Shares Out.:

238,282,713 Class A Shares outstanding plus 40,000 Common Shares issued and outstanding (approx. US$5.4 billion market cap).

Use of Proceeds:

Substantially all of the net proceeds of this offering will be used to purchase gold and silver bullion in accordance with Central Fund’s investment policies.

Eligibility for Investment:

The Shares will be eligible under the usual Canadian statutes and for RRSPs, RRIFs, TFSAs and DPSPs as Canadian property.

Offering Procedure:

Overnight marketed public offering distributed pursuant to a shelf prospectus filed on September 8, 2009 in all provinces and territories of Canada (except Quebec) and under MJDS in the United States.

Listing:

The Shares are currently listed on the Toronto Stock Exchange (CEF.A and CEF.U) and the NYSE AMEX (CEF).

Commission:

4.0%

Lead Underwriter:

CIBC

Pricing Date:

March 30, 2011.

Closing Date:

April 6, 2011.