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Sentry Select Corporate Class Ltd. acquires the assets of NCE Diversified Flow-Through (06) Limited Partnership and NCE Diversified Flow-Through (06-2) Limited Partnership for a total value of $195.1

TORONTO: Sentry Select Capital Corp. (“Sentry Select”) is pleased to announce that on Sentry Select Corporate Class Ltd. (the “Corporation”) has acquired all of the assets of NCE Diversified Flow-Through (06) Limited Partnership and NCE Diversified Flow-Through (06-2) Limited Partnership (the “Partnerships”). The total value of the assets at the time of the acquisition was $195,178,663.

Mutual fund share value:  In exchange for the Partnerships’ assets, the Partnerships received an aggregate of 4,840,098.83 Series A shares of Sentry Select Canadian Resource Class (the “Fund”) at a net asset value of $40.33 per share in the capital of the Corporation.

Net asset value of the Partnerships: As of February 6, 2008, the net asset value of NCE Diversified Flow-Through (06) Limited Partnership was $18.22 per unit and the net asset value of NCE Diversified Flow-Through (06-2) Limited Partnership was $21.06 per unit.

Distribution of mutual fund shares: Following the transfer of their assets in exchange for Series A shares of the Fund, on February 6, 2008, each Partnership distributed all of the Series A shares to its respective limited partners in proportion to their interest in the Partnership. The former limited partners are now shareholders of the Corporation. The Series A shares are redeemable by the shareholders and convertible into shares of other corporate class funds as described below.

Notice to limited partners: A notice of the transfer of each Partnership’s assets to the Corporation for Series A shares of the Fund and the subsequent dissolution of each of the Partnerships, dated January 3, 2008, was mailed to the limited partners of each Partnership.

NCE Diversified Flow-Through (08) Limited Partnership: A final prospectus, dated January 16, 2008, for NCE Diversified Flow-Through (08) Limited Partnership has been filed with the securities commissions and regulatory authorities in each of the provinces and territories of Canada and the closing is expected to occur on or about February 21, 2008. It is anticipated that the assets of this limited partnership will also in due course be acquired by the Fund, as described in the prospectus of the limited partnership.

Sentry Select Canadian Resource Class:  The Fund is a class of mutual fund shares of the Corporation. To achieve its objective of long-term growth through capital appreciation, the Fund invests primarily in equities and other securities of Canadian companies engaged in energy and natural resource industries such as oil and gas, mining and minerals, forestry and other resources, as well as sectors that are dependent on these industries such as pipelines, utilities and equipment manufacturers. 

Sentry Select Corporate Class Ltd.:  In addition to Sentry Select Canadian Resource Class, the Corporation offers Sentry Select Balanced Class, Sentry Select Canadian Energy Growth Class, Sentry Select Canadian Income Class, Sentry Select Mining Opportunities Class and Sentry Select Money Market Class. The corporate class structure allows investors to convert shares of one corporate class fund into another without triggering immediate tax consequences.

The Manager: Sentry Select Capital Corp. is a Canadian wealth management company that manages approximately $8 billion in gross assets as of December 31, 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. Sentry Select is the manager and/or advisor to 30 Toronto Stock Exchange-listed reporting issuers. In addition, Sentry Select manages and/or provides advisory services to four 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  

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions ‘‘expect’’, ‘‘anticipate’’, “will” and similar expressions to the extent they relate to the NCE Diversified Flow-Through (08) Limited Partnership or the Fund. The forward-looking statements are not historical facts but reflect the Corporation’s and Sentry Select’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Sentry Select believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sentry Select undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

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 (