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Special meeting of Diversified Preferred Share Trust (TSX: DPS.UN) unitholders adjourned

TORONTO: The special meeting of unitholders of Diversified Preferred Share Trust (the “Trust”) called for May 1, 2007, was adjourned because a quorum was not present at the meeting. The meeting was adjourned to May, 23, 2007, 2:00 pm, at the Gold Rush Suite of the Sheraton Centre Toronto Hotel, 123 Queen Street West, Toronto, Ontario M5H 2M9. The Gold Rush Suite is located on the 4th floor.

The meeting was called to consider and approve: the listing of an additional 500,000 units to be reserved for issuance to the administrator as payment of the monthly administration fee; and an amendment to the Declaration of Trust that will enable the Trust to issue units at less than $25 per unit, provided that the units will be issued for net proceeds that equal or exceed the Net Asset Value per Unit.

The distribution of units to the administrator as payment of the administration fee has the effect of providing additional cash flow for distribution to unitholders of the Trust. The last remaining units that were reserved for issuance for monthly payment to the administrator were paid out by January, 2007. The Trustees believe that it is in the best interests of the unitholders that the Trust continues to pay the monthly administration fee in units, because it enables the Trust to pay more of its cash flow as distributions to unitholders.

Issuing additional units for net proceeds equal or exceeding NAVPU, even if less than $25, would decrease the management expense ratio by spreading the fixed operating costs of the Trust over more units and, if the net proceeds exceed NAVPU, would be accretive to NAVPU.

Diversified Preferred Share Trust:
Diversified Preferred Share Trust is designed to provide unitholders with the opportunity to receive quarterly cash distributions by investing in an equally weighted diversified portfolio of preferred shares and preferred securities of Canadian issuers managed on a passive basis and to receive the benefits of a low management expense ratio. The Trust’s units trade on the Toronto Stock Exchange under the symbol DPS.UN.

Administrator: Sentry Select Capital Corp. is a Canadian wealth management company who manages approximately $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 provides management and advisory services to over 25 exchange-listed entities.

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 (