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CAPVEST Income Corp. (TSX-V: CVS) Announces Offering
2005-11-01

Combined Unit Offering CAPVEST Income Corp. (the “Company”) is pleased to announce the filing of a preliminary prospectus in connection with a Combined Unit offering. Each Combined Unit will consist of a 7%, $1,000 principal amount, convertible unsecured debenture and 1,000 common shares. The Combined Unit Offering is subject to receipt of all regulatory approvals, including the approval of the TSX Venture Exchange.

Investment Objectives The investment objective of CAPVEST is to generate capital appreciation, and to a lesser extent income, through exposure to commodity-related investments.

Use of proceeds The net proceeds of the Offering will be used to provide direct and indirect exposure to commodity-related investments, including commodity-related income trusts and the Rogers International Commodity Index (the “RICI”).

Combined Unit Each Combined Unit will consist of a $1,000 principal amount, convertible unsecured debenture and 1,000 common shares. The convertible debenture has an interest coupon of 7% per annum, paid quarterly, with a three year maturity. The common shares will provide the opportunity for appreciation. The minimum purchase is two units. The offering price of the common shares is expected to be determined upon final receipt of the prospectus at the end of November.

Agents A syndicate of agents is being co-led by Blackmont Capital Inc. and Canaccord Capital Corporation, and includes Desjardins Securities Inc., HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Dundee Securities Corporation, Jory Capital Inc., Research Capital Corporation, Wellington West Capital Inc., Haywood Securities Inc., Industrial Alliance Securities Inc., IPC Securities Inc., MGI Securities Inc., Rothenberg Capital Management Ltd., Union Securities Ltd., Argosy Securities Inc., Burgeonvest Securities Limited and Northern Securities Inc.

Investment Advisor Sentry Select Capital Corp. is the Investment Advisor to the Company. Sentry Select is a wealth management company with gross assets under management in excess of $9 billion. It is the portfolio manager of 17 closed-end trusts, 4 flow-through limited partnerships and 11 mutual funds; the manager of an investment corporation; the marketing agent for a series of principal-protected notes; and the administrator of 3 closed-end trusts.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

More information Investor Services for broker/investor inquiries or Brian McOstrich for MEDIA inquiries. Tel: 1-888-246-6656 Fax: 416-364-1197 info@sentryselect.com www.sentryselect.com


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