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Oil Sands Split Trust (TSX: OST.UN and OST.PR.A) announces an increase in distribution for the second quarter of 2010

TORONTO: Oil Sands Split Trust (the “Trust”) is pleased to announce a quarterly distribution of $1.85 per Capital Unit, payable on June 15, 2010 to unitholders of record on May 31, 2010. The distribution of $1.85 per Capital Unit represents a $0.70 increase from the previous quarter. A quarterly interest payment of $0.36125 per Preferred Security will be paid on June 15, 2010 to securityholders of record on June 4, 2010.

Oil Sands Split Trust: The Trust offers investors both Preferred Securities and Capital Units. The Trust holds units of Canadian Oil Sands Trust in order to fund quarterly fixed interest payments on the Trust’s Preferred Securities and to enable the holders of the Trust’s Capital Units to participate in any capital appreciation in the Canadian Oil Sands Trust units and benefit from any increase in the distributions paid on those units.

Sentry Select Capital Inc.: Sentry Select Capital Inc. (“Sentry Select”), the administrator of the Trust, is a Canadian wealth management company that offers a diverse range of investment products including closed-end investment funds, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.

All capitalized terms used herein, but not defined are as per the Trust’s Prospectus.

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 (