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Sentry Select Capital Corp. closes offering for Sentry Select China Fund; raises $80 million

TORONTO: Sentry Select Capital Corp. (“Sentry Select” or the “Manager”) is pleased to announce that Sentry Select China Fund (the “Fund”) has closed its initial public offering.

Gross proceeds: At the closing, the Fund issued 8,000,000 units for total gross proceeds of $80,000,000. The agents have been granted an over-allotment option to purchase up to 1,200,000 units at any time during the next 30 days.

Trading information: The Fund units began trading on the Toronto Stock Exchange today under the symbol CHZ.UN.

Investment objectives: The Fund has been designed to provide investors with an actively managed, diversified portfolio of equity securities of companies that carry on the majority of their business in China.

The Fund’s investment objectives are to:• provide a total return for unitholders, and • pay quarterly cash distributions (initially, expected to be $0.125 per quarter, or 5% per annum based on the original price of $10.00 per unit).

The portfolio: The Fund will employ an active investment management strategy. HSBC Investments (Canada) Limited will be the investment advisor to the Fund. The investment advisor will appoint its affiliate, Halbis Capital Management (Hong Kong) Limited as the Fund’s sub-advisor (the “HSBC sub-advisor”). The HSBC sub-advisor will use a combination of ‘‘top-down’’ economic and ‘‘bottom-up’’ stock-selection driven investment approaches in combination with sector research, economic fundamental analysis and other global resources exclusively available to the HSBC sub-advisor.

Conversion of the Fund: On May 1, 2009, the Fund will become an open-end mutual fund, and the units will be delisted and become redeemable at the net asset value per unit on a daily basis.

Distribution reinvestment plan: The Fund will offer a distribution reinvestment plan whereby unitholders may elect to have their cash distributions (net of any applicable withholding tax in the case of a non-resident unitholder) reinvested in additional units of the Fund. After the conversion to an open-end mutual fund, all distributions will automatically be reinvested in units, unless the unitholder requests to receive cash.

The Manager: Sentry Select Capital Corp., the Manager of the Fund, is a Canadian wealth management company who manages over $8 billion in gross assets as of March 31, 2007. The company offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. Sentry Select is the manager of 35 reporting issuers on the Toronto Stock Exchange.

Investment Advisor: HSBC Investments (Canada) Limited will be the investment advisor to the Fund. The investment advisor will appoint its affiliate, Halbis Capital Management (Hong Kong) Limited as the Fund’s sub-advisor. Halbis Capital Management manages assets of over US$91 billion worldwide, including US$7.7 billion in Chinese equity mandates as of December 31, 2006.

The Agents: The syndicate of agents was co-led by TD Securities Inc., CIBC World Markets Inc. and RBC Capital Markets, and included HSBC Securities (Canada) Inc., BMO Capital Markets, National Bank Financial Inc., Scotia Capital Inc., Canaccord Capital Corporation, Raymond James Ltd., Blackmont Capital Inc., Dundee Securities Corporation, Berkshire Securities Inc., Desjardins Securities Inc., IPC Securities Corporation, Research Capital Corporation and Wellington West Capital Inc.

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

This news release contains forward-looking statements that involve risks and uncertainties. These statements reflect Sentry Select’s current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, Sentry Select cannot assure that the forward-looking statements contained in this news release will be realized.

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 (