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Fidac: Sentry Select Capital Corp. Files Prospectus Amendment for Sentry Select FIDAC U.S. Mortgage Trust
2005-09-21

TORONTO - Sentry Select Capital Corp. (“Sentry Select” or the “Manager”) announced today that it has filed an amendment to the prospectus of Sentry Select FIDAC U.S. Mortgage Trust (the “Trust”), to reflect current market conditions. Based on the market conditions as at September 16, 2005, the investment strategy of SSF U.S. Mortgage Limited Partnership and the structure of the Trust, Sentry Select believes that the Units of the Trust would have an annualized yield of approximately 8.0 per cent. Closing Date - As a result of the filing of the prospectus amendment, the closing of the offering has been postponed until September 29, 2005.Investment Objectives - The Trust's investment objective is to provide Unitholders with tax-efficient cash distributions on a quarterly basis. The cash distributions will be directly related to the spread between the interest income earned on the Portfolio of mortgage-backed securities owned by SSF U.S. Mortgage Limited Partnership and the cost of borrowing to finance their acquisition. Cash distributions from the Trust are not fixed and will vary. Investment Manager - Fixed Income Discount Advisory Company (FIDAC) is the investment manager to SSF U.S. Mortgage Limited Partnership. FIDAC owns and manages a portfolio of mortgage-backed securities, with the principal business objective to generate income from the spread between the interest income on mortgage-backed securities and the cost of borrowing to finance the acquisition of mortgage-backed securities. FIDAC and related companies are responsible for the management of approximately US$48 billion in gross assets. The Agents - The syndicate of agents is co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc., and includes National Bank Financial Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Dundee Securities Corporation, Blackmont Capital Inc., Wellington West Capital Inc., Desjardins Securities Inc., IPC Securities Corporation and Rothenberg Capital Management Inc. The Manager - Sentry Select Capital Corp. is the manager of the Trust. Sentry Select is also responsible for providing or arranging for the provision of administrative services required by the Trust. Sentry Select is a wealth management company with gross assets under management in excess of $7 billion. It is the portfolio manager of 17 closed-end trusts, 3 flow-through limited partnerships and 11 mutual funds; the manager of an investment corporation; the marketing agent for a series of principal-protected notes; and the administrator of 3 closed-end trusts.

More Information - Investor Services for broker/investor inquiries or Brian McOstrich for media inquiries. Tel: 1-888-246-6656 Fax: 416-364-1197 info@sentryselect.com www.sentryselect.com


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