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Canadian Income Management Trust (TSX: CNM.UN) changes from semi-annual to monthly distributions
2006-10-18

TORONTO: Canadian Income Management Trust (the “Trust”) is pleased to announce that commencing October 2006, the Trust’s distribution frequency will change from semi-annual to monthly. The October 2006 distribution of $0.0129 per unit is payable on November 15, 2006 to unitholders of record on October 31, 2006. The income accrued for the period of July 1, 2006 to September 30, 2006, will be paid as a special distribution to unitholders of record on December 31, 2006.

Canadian Income Management: The investment objectives of the Trust are (i) to provide unitholders with cash distributions, initially expected to be $0.155 per trust unit per annum (7.75% of the original issue price of the trust security), and (ii) to preserve and potentially enhance the value of the portfolio in order to return to unitholders at least $2.00 per trust unit upon the termination of the Trust in 2012.The investment objectives of Canadian Income Management Inc., the Corporation are (i) to provide debentureholders with semi-annual interest payments at a rate of 7% per annum, and (ii) to preserve and potentially enhance the value of the portfolio in order to repay the debentures at maturity.

The investment manager: Sentry Select Capital Corp. is a wealth management company providing investment, administrative and marketing services to 33 exchange-listed closed-end funds and corporations, including preferred securities and debentures, 17 principal-protected notes, 16 mutual funds and four flow-through limited partnerships. Sentry Select is one of the largest Canadian investment managers in the income trust sector. As of September 30, 2006, the firm had approximately $8.5 billion in gross assets under management.

More information: Investor Services (broker/investor inquiries) or Kinga Lam (media inquiries) Tel: 1-888-246-6656 Fax: 416-364-1197 info@sentryselect.com www.sentryselect.com

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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 (www.sedar.com).