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Sentry Select Lazard Global Listed Infrastructure Fund (TSX: GLS.UN) announces intention to make normal course issuer bid
2008-07-10

Toronto: Sentry Select Capital Corp. (the “Manager”), the manager of Sentry Select Lazard Global Listed Infrastructure Fund (the “Fund”), announces that the Fund intends to purchase up to 1,341,100 of the units of the Fund (the “Units”) for cancellation by way of a normal course issuer bid through the facilities of the Toronto Stock Exchange (the “Exchange”). The 1,341,100 Units represent approximately 10% of the public float of the Fund. As of July 9, 2008, 13,411,000 Units are issued and outstanding. The public float of 13,411,000 Units has been calculated as the issued and outstanding Units less Units held by insiders of the Fund.

The purchases may commence on July 14, 2008 and will terminate on July 13, 2009, or on such earlier date as the Fund may complete its purchase or provide notice of termination. Any such purchases will be made by the Fund at the prevailing market price at the time of such purchases in accordance with the requirements of the Exchange.

The Fund will not make purchases of Units at a price greater than net asset value. Purchases of Units at less than net asset value per Unit should have the effect of increasing the net asset value per Unit. All purchased Units will be cancelled.

The Fund will not purchase in any 30-day period more than 268,220 Units, representing 2% of the issued and outstanding Units as at the date of acceptance of the notice of the normal course issuer bid by the Exchange.

In the 12 months preceding the date of this release, the Fund has purchased for cancellation 749,000 Units pursuant to an expiring normal course issuer bid at an average price of $7.77.

To the knowledge of the Manager, no director, senior officer or other insider of the Manager intends at present to sell any Units under this bid. However, sales by such persons through the facilities of the Exchange or elsewhere may occur if the circumstances or decisions of any such person change. The benefits to any such person whose Units are purchased would be the same as the benefits available to all other holders whose Units are purchased.

Sentry Select Lazard Global Listed Infrastructure Fund: Sentry Select Lazard Global Listed Infrastructure Fund is an investment trust that seeks to provide unitholders with a total return consisting of interest, dividend income and capital appreciation that will outperform inflation, as measured by the Canadian Consumer Price Index, by 5% per annum over rolling five-year periods.

The Fund’s investments in global infrastructure securities are made with a view to generate sufficient income to permit the Fund to make quarterly cash distributions to unitholders.

Trading information and NAV: Sentry Select Lazard Global Listed Infrastructure Fund units trade on the Toronto Stock Exchange under the symbol GLS.UN.

Sentry Select Capital Corp.: Sentry Select Capital Corp. is a Canadian wealth management company that manages over $6.5 billion in gross assets as of March 31, 2008. 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.

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

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 purchases pursuant to the normal course issuer bid. 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 (www.sedar.com).