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Sentry Select Capital Corp. announces NAV error in Sentry Select Blue-Chip Income Trust (TSX: SIT.UN)

TORONTO: Sentry Select Capital Corp. (“Sentry Select” or the “Manager”), the manager of Sentry Select Blue-Chip Income Trust (the “Trust”), announces that as part of a review undertaken of the Trust’s forward agreement it has discovered a discrepancy which affected the net asset value per unit (“NAVPU”) of the Trust. The Manager has determined that an administrative error in processing the July 2002 monthly redemption resulted in an understatement in the NAVPU of the Trust over the period from July 31, 2002 to January 18, 2007, inclusive (the “Period”).

Sentry Select estimates that the error resulted in an understatement of NAVPU, during the Period, ranging from approximately $0.13 to $0.17 per unit or approximately 0.65 % to 0.80%. As a result, unitholders who redeemed units of the Trust during the Period (“Entitled Unitholders”) will be entitled to additional redemption proceeds from the Trust. The Trust will use proceeds to be received from the Trust’s forward agreement counterparty to rectify the error and compensate Entitled Unitholders and to make whole the Trust for the benefit of existing unitholders of the Trust. The NAVPU that will be calculated and published for January 25, 2007 will reflect an adjustment to restore it to the proper value.

The Manager is currently working with advisors to the Trust and various service providers on a process to pay out the additional redemption proceeds to Entitled Unitholders and will issue a further press release to this regard within 60 days.

It should also be noted that the Manager did not benefit from this error and it did not and will not collect a management fee on the shortfall.

Sentry Select Capital Corp.: Sentry Select Capital Corp. is a wealth management company providing investment, administrative and marketing services to 35 exchange-listed closed-end funds and corporations (including preferred securities and debentures), 22 principal-protected notes, 16 mutual funds and four flow-through limited partnerships. Sentry Select is one of the largest Canadian investment managers in the income trust sector. As of December 31, 2006, the firm had approximately $8 billion in gross assets under management.

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

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 (