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Superior Court of Ontario Rules that Sentry Select Commodities Income Trust (TSX: SSJ.UN) Should Have Paid More to Redeeming Unitholders
2007-06-15

TORONTO : Sentry Select Capital Corp. (“Sentry Select”) announced that Mr. Justice Spence of the Superior Court of Ontario has ruled that Sentry Select Commodities Income Trust (the “Trust”) should have paid out an additional $0.435 per unit to two unitholders who redeemed their units in the Trust on August 31, 2006.  The judge also awarded those unitholders interest.

Sentry Select is reviewing the decision to determine whether to appeal.

Sentry Select had caused the Trust after August 31, 2006 to dispose of a pro rata portion of its assets held on such date to determine the Net Realized Proceeds per Unit to which the redeeming unitholders were entitled.  The Trust has paid out $9.875 per unit to the redeeming unitholders on that basis.  The plaintiffs claimed that, because the Trust had not disposed of the assets prior to August 31, 2006, they were entitled to the net asset value per unit on such date, which was $10.31.

If the decision of Mr. Justice Spence is upheld on appeal or if Sentry Select decides not to appeal, Sentry Select will cause the Trust to make the same payments to the other unitholders who redeemed on August 31, 2006.  As an aggregate of 4,702,537 units were redeemed on that date, the Trust would be liable in these circumstances to pay out an aggregate of $2,045,604 plus interest.  Sentry Select estimates that such payment, including interest to date, would reduce the net asset value per unit of the Trust by approximately $0.17.

More information: Investor Services (broker/investor inquiries) orKevin Cohen (Vice-President, Operations & General Counsel)         Tel:  1-888-246-6656   Fax: 416-364-1197   info@sentryselect.com   www.sentryselect.com


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