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Sentry Select Capital Corp. closes offering for 130/30 Mining LP
TORONTO, ONTARIO - Sentry Select Capital Corp. ("Sentry Select" or the "Manager") is pleased to announce that 130/30 Mining LP (the "Partnership") has closed its initial public offering.Gross proceeds: At the closing, the Partnership issued 1,811,114 Class A Units and 128,550 Class F Units for aggregate gross proceeds of $19,396,640. The gross proceeds consisted of $18,905,600 in cash and $491,040 in exchange eligible securities.Investment objectives: The Partnership will invest in an actively managed portfolio consisting primarily of equity and debt securities of metals and minerals mining and exploration issuers ("Mining Issuers") that are listed on a North American stock exchange, using a 130/30 approach with the view to:- providing Limited Partners with monthly cash distributions of 8% per annum (approximately $0.0667 per month) based on the initial price of Units; and- enhancing the net asset value ("NAV") of the Partnership.Investment strategy: The 130/30 strategy is designed to enable the Manager to invest 100% of the net proceeds in long positions of Mining Issuers. The Manager then has the discretion to sell short securities (in any sector) with a value of up to 30% of the NAV at the time the short sales are made. The cash proceeds from the short sales may then be used to increase the long positions by an amount equal to the short sales, up to 30% of NAV. The net result is a portfolio of up to 130% of NAV in long positions, up to 30% of NAV in short positions, creating a net long exposure of 100% of NAV. The relative value of these long/short positions will vary during the life of the Partnership.Rollover: To provide potential for liquidity and long-term growth of capital, the General Partner intends to implement a Rollover at a date no later than July 31, 2010, pursuant to which the assets of the Partnership would be transferred to Sentry Select Corporate Class Ltd. or another mutual fund that is a reporting issuer, on a tax-deferred basis, in exchange for mutual fund shares, following which such shares will be distributed to the Limited Partners pro rata on a tax-deferred basis upon the dissolution of the Partnership. If the Partnership completes a Rollover with Sentry Select Corporate Class Ltd., the Partnership will receive shares of Sentry Select Mining Opportunities Class.Sentry Select Capital Corp.: Sentry Select Capital Corp. is a Canadian wealth management company that manages over $6.5 billion in gross assets, including over $800 million in Mining Issuers, as of March 31, 2008. 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.Agents: The syndicate of agents was co-led by CIBC World Markets Inc., BMO Capital Markets and National Bank Financial Inc., and included Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Dundee Securities Corporation, GMP Securities L.P., Blackmont Capital Inc., Wellington West Capital Inc., Berkshire Securities Inc., Desjardins Securities Inc., Industrial Alliance Securities Inc., Jory Capital Inc., Laurentian Bank Securities Inc., Research Capital Corporation and Richardson Partners Financial Limited.Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions "expect", "intend", "will" and similar expressions to the extent they relate to the Partnership. The forward-looking statements are not historical facts but reflect 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.All capitalized terms noted herein but not defined are as per the prospectus dated May 29, 2008.

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