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Oil Sands and Energy Mega-Projects Trust (TSX: OSM.UN) provides details regarding the 2010 annual redemption

TORONTO: Sentry Select Capital Inc. (“Sentry”), the manager of Oil Sands and Energy Mega-Projects Trust (the “Trust”), announces that unitholders who redeemed their units of the Trust (the “Units”) effective October 29, 2010, will receive the redemption amount determined in accordance with clause (b) of the definition of Net Realized Proceeds Per Unit set out in the Trust’s Amended and Restated Declaration of Trust, dated January 1, 2009 (the “Declaration of Trust”), as Sentry determined that it was not practicable to make the dispositions described in clause (a) of that definition. As a result, unitholders who tendered Units will receive the Redeeming Percentage of the Trust’s Net Asset Value on the Redemption Date, less any applicable costs that Sentry believes would have resulted from the dispositions described in clause (a).

Oil Sands and Energy Mega-Projects Trust: Oil Sands and Energy Mega-Projects Trust is a closed-end investment trust with a focus on providing monthly distributions and the potential for capital appreciation through exposure to energy-related and energy infrastructure securities. The Trust invests in an actively managed portfolio of issuers participating in current and future development in the Canadian Oil Sands, the Mackenzie Gas Project, the Alaska Highway Pipeline Project, enhanced oil recovery projects and liquefied natural gas facilities, including those whose businesses are directly or indirectly related to oil and gas production, pipelines and infrastructure, services, construction and real estate.

Sentry Investments: Sentry Investments is a Canadian asset management company that offers a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships, closed-end trusts and other alternative investments, covering a variety of domestic and global mandates.

Any capitalized terms used but not defined herein are as defined in the Declaration of Trust.

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 (