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CAPVEST Income Corp. (TSX-V: CSV) announces future intentions to shareholders
2008-12-01

TORONTO: The Board of Directors of CAPVEST Income Corp. (the “Company”) wishes to announce that the Company intends to seek shareholder approval at a special meeting to be held in February 2009 to voluntarily wind-up the Company. Further details regarding the special meeting and the proposed wind-up of the Company will be provided in a management information circular that will be mailed to shareholders in January 2009.

The proposed voluntary wind-up of the Company will not affect the Company’s ability to repay in cash all remaining outstanding 7% unsecured convertible debentures (the “Debentures”) upon their maturity on December 31, 2008. Upon completion of the wind-up and sale of the assets of the Company, the remaining proceeds after having repaid all amounts outstanding in respect of the Debentures and any other obligations ranking in priority, will be distributed to the Company’s common shareholders.

The net asset value per common share as of November 27, 2008 was $0.87.

CAPVEST Income Corp.: The investment objective of CAPVEST Income Corp. is to generate income and capital appreciation through investing, directly or indirectly, in a diversified group of infrastructure and energy companies. Its common shares and Debentures trade on the TSX Venture Exchange under the symbols CSV and CVS.DB, respectively.

Sentry Select Capital Corp.: Sentry Select Capital Corp., the Company’s Investment Manager, is a Canadian wealth management company that manages a diverse range of investment products including closed-end trusts, mutual funds, hedge funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.

More information: Investor Services (broker/investor and media inquiries)Tel: 1-888-739-4623 Fax: 416-364-1197Email: info@sentryselect.com

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expect”, “intend”, “will” and similar expressions to the extent they relate to the Company. The forward-looking statements are not historical facts but reflect the Company’s current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including, but not limited to, the ability of the Company to fully repay in cash those debenture holders as of the maturity date. Although the Company 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. The Company 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.


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).