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Strategic Energy Fund (TSX: SEF.UN) amends Mandatory Market Purchase Program

Toronto/Calgary: Strategic Energy Management Corp., the manager of the Fund, announced today that it has amended the Fund’s trust agreement with respect to its mandatory purchase program (“MPP”) as authorized and directed by unitholders of the Fund at the Annual and Special meeting held on June 28, 2007 (see press release dated June 29, 2007 available under the Fund’s profile on SEDAR at ). Previously, the MPP had provided that the Fund would purchase trust units of the Fund offered in the market if at any time the market price at which unitholders were offering their units for sale was less than 90% of the most recently calculated net asset value per unit. The amendment increases the minimum price at which units will be purchased from less than 90% to at or less than 95% of the most recently calculated net asset value per unit. The maximum number of units that may be purchased during each calendar quarter was recently increased from 0.25% to 1.25% of the outstanding trust units of the Fund, as previously announced on June 4, 2007. A copy of the Fund’s trust agreement, as amended and restated, can be obtained upon request to Strategic Energy Management Corp., at The Exchange Tower, 130 King Street West, Suite 2850, P.O. Box 104, Toronto, Ontario M5X 1A4, telephone (416) 364-8788, facsimile (416) 364-5615 or under the Fund’s profile on SEDAR at Strategic Energy Fund: Strategic Energy Fund is an investment trust that seeks to provide unitholders with superior rates of return through a diversification strategy focused on investment opportunities within the Canadian energy sector. The Fund invests in established companies, early-stage energy companies and, to a lesser extent, special energy issuers, each with prospects for high growth in the near to medium term and the potential for long-term capital appreciation. The Fund’s investments in established companies, including energy royalty and income trusts, are made with a view to generate sufficient income to permit the Fund to make monthly cash distributions to unitholders. Investments in early-stage energy companies are focused on both private and public issuers with strong, experienced management teams that have proven track records of enhancing shareholder value and successfully executing exit strategies. As well, the Fund may invest in undervalued issuers where Sentry Select Capital Corp., the investment advisor to the Fund, believes that capital appreciation can be realized.

Sentry Select Capital Corp.: Sentry Select Capital Corp., the manager of the Corporation, is a Canadian wealth management company that manages over $8 billion in gross assets as of June 30, 2007. The company offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. With 29 reporting issuers, Sentry Select Capital Corp. is the leading manager and/or advisor to entities listed on the TSX. In addition, Sentry Select Capital Corp. manages and/or provides advisory services to 4 reporting issuers listed on the TSX Venture Exchange. More information: Investor Services (broker/investor inquiries) or Kinga Lam (media inquiries) Tel: 1-888-246-6656 Fax: 416 364-1197 info@sentryselect.comThis news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the future performance of the Fund, including the potential for future distributions. These statements reflect Sentry Select’s current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, Sentry Select cannot 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 (