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DIT: Sentry Select Capital Corp. Announces Closing of Diversified Income Trust Rights Offering; Raises Total Gross Proceeds of $244,333,887
Rights Offering - Sentry Select Capital Corp. (the “Manager”) announces the closing of the Rights Offering for Sentry Select Diversified Income Trust (the “Trust”). On August 30, 2005 (the “Record Date”) each unitholder of record received one Right for each Trust Unit held. Three Rights entitled the holder to purchase one Trust Unit at a price of $5.25 until 4 PM (Toronto time) on September 22, 2005. Results of the Rights Offering
Trust Units Initially Subscribed Trust Units Additionally Subscribed* Maximum Number of Trust Units Available for Issue Total Gross Proceeds
44,518,614 2,021,174 46,539,788 $244,333,887

* Due to the limit on the number of Trust Units available for issue pursuant to the Rights Offering, only 2,021,174 Trust Units will be issued under the additional subscription privilege. Expenses of the Offering - Sentry Select Capital Corp., the Manager of the Trust (the “Manager”) has agreed to pay the expenses of the Rights Offering incurred by the Trust, together with interest thereon, over five years from the date of closing. The first payment will occur in January 2007. Use of Proceeds - The Trust will use the net proceeds of the Rights Offering to acquire, in the open market and through private placements, securities in royalty trusts, unit trusts, income trusts, real estate investment trusts, limited partnerships and other similar issues, in accordance with the Trust’s prevailing investment policies and restrictions.

Dealer Manager - National Bank Financial Inc. was engaged to be the Dealer Manager for the Rights Offering. Sentry Select Diversified Income Trust Sentry Select Diversified Income Trust (TSX: SDT.UN) is a closed-end trust with the objective of maximizing distributions to Unitholders by investing primarily in a broad range of royalty and income trusts, real estate investment trusts and other high-yielding securities. 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

Documents (including press releases) regarding the various investment funds that are managed or advised by Sentry are provided for information purposes only and cannot be relied on to be complete, exhaustive or error-free unless the complete set of documents for any given investment fund with respect to which information is being sought is reviewed and then only on SEDAR (