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Sentry Select announces distribution guidance for Sentry Select 40 Split Income Trust (TSX: SFO.UN) and Multi Select Income Trust (TSX: MST.UN)

TORONTO: In accordance with their respective declarations of trust, in order to preserve the capital available to repay the preferred securities upon their respective maturity dates, Sentry Select Capital Corp. (“Sentry Select”), the manager of Sentry Select 40 Split Income Trust and the trustee of Multi Select Income Trust (collectively, the “Trusts”) has suspended the payment of distributions (including the October distributions) for the Trusts until each Trust is permitted, according to its declaration of trust, to resume paying monthly distributions to holders of capital units.

This decision will not negatively impact the ability of either Trust to meet the obligations to preferred security holders. The respective maturity dates for the preferred securities are December 1, 2008 and September 30, 2009.

Sentry Select Capital Corp.: Sentry Select Capital Corp. is a Canadian wealth management company that manages approximately $6 billion in gross assets as of September 30, 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.

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

This 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 Trusts, 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 (