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Sentry Select Capital Corp. closes offering for Sentry Select Lazard Global Listed Infrastructure Fund; raises $135 million

TORONTO: Sentry Select Capital Corp. (“Sentry Select” or the “Manager”) is pleased to announce that Sentry Select Lazard Global Listed Infrastructure Fund (the “Fund”) has closed its initial public offering.

Gross proceeds: At the closing, the Fund issued 13,500,000 units for total gross proceeds of $135,000,000. The agents have been granted an over-allotment option to purchase up to 2,025,000 units at any time during the next 30 days.

Trading information: The Fund units began trading on the Toronto Stock Exchange today under the symbol GLS.UN.

Investment objectives: The Fund will be actively managed by Lazard Asset Management LLC (“Lazard”) and will seek long-term, defensive, low-volatility returns by investing in a globally diversified portfolio of publicly listed global infrastructure companies.

The Fund’s investment objectives are to:

• provide a total return for unitholders consisting of interest, dividend income and capital appreciation that will outperform inflation, as measured by the Canadian Consumer Price Index (‘‘CPI’’), by 5% per annum over rolling five-year periods, and• pay quarterly cash distributions (initially, expected to be $0.125 per quarter, or 5% per annum based on the original price of $10.00 per unit).

The portfolio: From the universe of publicly listed global infrastructure companies, Lazard focuses on a sub-sector it calls “Preferred Infrastructure”, which is comprised of approximately 70 to 100 companies. Lazard believes Preferred Infrastructure companies have the ability to generate higher revenue and profit confidence with lower volatility as these companies typically have the following characteristics: a monopolistic position, a captive customer base, pricing power, high operating margins and low volatility of cash flows. Lazard expects that the portfolio will be made up of 25 to 50 Preferred Infrastructure companies.

Conversion of the Fund: On April 1, 2009 the Fund will become an open-ended mutual fund, and the units will be delisted and become redeemable at the net asset value per unit on a daily basis.

Distribution reinvestment plan: The Fund will offer a distribution reinvestment plan whereby residents of Canada may elect to have their cash distributions reinvested in additional units of the Fund. After the conversion to an open-end mutual fund, all distributions will automatically be re-invested in units of the mutual fund, unless the unitholder requests to receive cash.

Investment Manager: Lazard Asset Management LLC has been retained as the Investment Manager of the Fund. Lazard has research analysts in the US, Australia, Japan, Korea, the UK and Germany. As of September 30, 2006, the firm had approximately 173 investment professionals overseeing approximately US$87.7 billion in assets under management, including over US$200 million invested in infrastructure.

The Manager: Sentry Select Capital Corp. is a wealth management company providing investment, administrative and marketing services to 35 exchange-listed closed-end funds and corporations (including preferred securities and debentures), 22 principal-protected notes, 16 mutual funds and three flow-through limited partnerships. As of January 31, 2007, the firm had approximately $8 billion in gross assets under management.

The Agents: A syndicate of agents co-led by RBC Dominion Securities Inc. and CIBC World Markets Inc. included: BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Blackmont Capital Inc., Desjardins Securities Inc., Berkshire Securities Inc., IPC Securities Corporation, Jory Capital Inc., Research Capital Corporation and Wellington West Capital Inc.

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

This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect Sentry Select’s and Lazard’s current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, neither Sentry Select nor Lazard can assure that the forward-looking statements contained in this news release will be realized.

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 (