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Toronto/Calgary: Strategic Energy Management Corp. (the “Manager”) announces that Strategic Energy Fund’s (the “Fund”) cash distribution for November 2007 will be C$0.06 per unit.

The distribution details are as follows:


Ex-distribution date

Record date

Payable date

C$0.06 per unit

November 14, 2007

November 16, 2007

November 30, 2007

Distribution decrease: The yield on the securities in the Fund’s portfolio has decreased as a result of weakness in Canadian natural gas markets, the rapid rise of the Canadian dollar against the U.S. currency and the anticipated impact of the Alberta Royalty Review. In order to provide stability to the Fund’s net asset value and ongoing distributions, the Fund has decreased its monthly distribution from $0.08 per unit to $0.06 per unit. The Manager continues to maintain a positive outlook for the Fund based on its belief that oil and gas prices will be strong over the long term due to sustained demand from North American economies, increasing demand from developing countries such as China and India, combined with limitations of supply. The strong Canadian dollar has also created promising opportunities for the Fund to invest outside of Canada. As previously announced on November 1, 2007, Mr. Sandy McIntyre has been appointed lead portfolio manager of the Fund. A conference call has been scheduled for today (Thursday, November 8, 2007) at 4:15 p.m. EST so that Mr. McIntyre may provide his outlook for the Fund. Mr. McIntyre will be joined on the call by Ms. Laura Lau, senior portfolio manager of the Fund. To participate in the call, please dial 416-641-6136 or 1-866-299-8690. A recording of the conference call will be available for replay until Saturday, December 8, 2007, by dialing 416-695-5800 or 1-800-408-3053, pass code 3241919#.Strategic Energy Fund:  Strategic Energy Fund is an investment trust that seeks to provide unitholders with superior rates of return and income through a diversification strategy focused primarily on investment opportunities in the Canadian energy sector. The Fund invests in established companies, early-stage energy companies and, to a lesser extent, special energy issuers, each with prospects for high growth in the near to medium term and the potential for long-term capital appreciation.

The Fund’s investments in established companies, including energy royalty and income trusts, are made with a view to generate sufficient income to permit the Fund to make monthly cash distributions to unitholders.Investments in early-stage energy companies are focused on both private and public issuers with strong, experienced management teams that have proven track records of enhancing shareholder value and successfully executing exit strategies. As well, the Fund may invest in undervalued issuers where Sentry Select Capital Corp., the investment advisor to the Fund, believes that capital appreciation can be realized.Trading information: The Fund’s units trade on the Toronto Stock Exchange (“TSX”) under the symbol SEF.UN.Sentry Select Capital Corp.: Sentry Select Capital Corp. (“Sentry Select”) is a Canadian wealth management company that manages approximately $8 billion in gross assets as of September 30, 2007. Sentry Select 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. With 29 reporting issuers, Sentry Select is the manager and/or advisor to more TSX-listed entities than any other investment manager. In addition, Sentry Select manages and/or provides advisory services to four reporting issuers listed on the TSX Venture Exchange.Forward-looking statements: This news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the future performance of the Fund, including the potential for future distributions. 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.More information:  Investor Services (broker/investor inquiries) or Kinga Lam (media inquiries) Tel: 1-888-246-6656 Fax: 416 364-1197

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