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TORONTO: CAPVEST Income Corp. (the “Corporation”) is pleased to announce that the rights (the “Rights”) issued to shareholders of record on July 11, 2006, pursuant to the rights offering dated June 28, 2006, are now trading on the TSX Venture Exchange under the symbol CVS.RT.

Rights and subscription price: Each shareholder of record of the Corporation on July 11, 2006 received one Right for each common share held. One Right entitles the holder to purchase one common share at the price of $0.15 until 4:00 pm (Toronto time) on August 1, 2006 (the “Expiry Date”).

Discount to market price: The subscription price of $0.15 per share represents a discount of 9.1 per cent to the closing price of $0.165 per unit on July 18, 2006.

Additional subscription privilege: Holders of Rights who fully exercise their Rights are entitled to subscribe pro rata for additional common shares, if available, that were not subscribed for initially, on or before the Expiry Date.

Use of proceeds: The net proceeds of the Rights offering will be invested by the Corporation in accordance with the investment objectives, subject to the investment restrictions of the Corporation.

Dealer manager: Blackmont Capital Inc. has been engaged as the dealer manager (the “Dealer Manager”) for the Rights Offering. The Corporation has agreed to pay the Dealer Manager a fee of $50,000 and $0.001 per common share issued under the Rights Offering. The Corporation has also agreed to pay a subscription fee of $0.005 for each common share issued under the Rights Offering to members of the soliciting dealer group (including the Dealer Manager).

Investment objectives: The investment objective of CAPVEST Income Corp. is to generate capital appreciation and, to a lesser extent, income, through exposure to commodity-related investments, including commodity-related income trusts and the Rogers International Commodity Index (RICI).

Net asset value and trading price: As of July 13, 2006, the Corporation’s net asset value was $0.23 per share and the closing price on the TSX Venture Exchange was $0.17 per share, representing a 26 per cent discount to the net asset value.

Trading information: The Rights trade on the TSX Venture Exchange under the symbol CVS.RT. CAPVEST Income Corp. common shares and convertible debentures trade on the TSX Venture Exchange under the symbols CVS and CVS.DB respectively.

Debentures: CAPVEST Income Corp. unsecured convertible debentures have an interest coupon of 7% per annum, payable quarterly, with a maturity date of December 31, 2008.

Sentry Select Capital Corp.: Sentry Select Capital Corp. provides investment, administrative and marketing services to 25 exchange-listed closed-end funds, 15 of which have exposure to the income trust sector, 16 mutual funds, 13 principal-protected notes and three flow-through limited partnerships. Sentry Select is one of the largest Canadian investment managers in the income trust sector. As of June 30, 2006, the firm had approximately $8.0 billion in gross assets under management.

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

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

Les documents (y compris les communiqués de presse) se rapportant aux divers fonds d'investissement pour lesquels Sentry agit à titre de gestionnaire ou de conseiller ne sont fournis qu'à titre informatif. Ces documents ne peuvent être considérés comme étant exhaustifs ou exempts d'erreur sans un examen approfondi de la totalité des documents se rapportant à un fonds d'investissement en particulier disponibles sur SEDAR (