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TORONTO: Canadian Income Management CIM Limited (“CIM”), the administrator of Canadian Income Management Trust (the “Trust”), and Canadian Income Management Inc. (the “Corporation”) wish to provide an update on the Trust’s net asset value (“NAV”) and the Corporation’s debentures.

As of October 8, 2008, the NAV, calculated in accordance with Canadian Generally Accepted Accounting Principles, was $nil per unit. Due to the recent market volatility and the leveraged component of Canadian Income Management Limited Partnership (the “Partnership”), if the Corporation’s debentures were to mature today, the Partnership could repay approximately $87 of the principal amount per debenture. The debentures mature on August 31, 2012, and the Corporation will provide regular updates as the conditions change. The updates will be available on the Canadian Income Management page of

The market volatility that has contributed to the decline in the Trust’s NAV has not compromised the investment manager’s outlook concerning the interest payments on the debentures. The investment manager continues to closely monitor all positions in the Partnership’s portfolio (the “Portfolio”) and is confident that the cash flow currently being generated from the Portfolio is sufficient to cover all debenture interest payments and expenses. Based on the current distribution amounts within the Portfolio, the interest coverage on the debentures after operating expenses of the Partnership, Trust and the Corporation is 1.53 times.

More information: Investor Services (broker/investor inquiries) or Kevin Cohen (General Counsel) Tel: 1-888-246-6656 Fax: 416-364-1197

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect Sentry Select Capital Corp’s (“Sentry Select”) current expectations regarding future results or events. Although Sentry Select believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Sentry Select undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

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