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Oil Sands Split Trust (TSX: OST.UN and OST.PR.A) announces cancellation of contingency reserve relating to the 2008 Special Annual Retraction of the Trust’s Capital Units
2009-01-30

TORONTO: Oil Sands Split Trust (the “Trust”) announces that Sentry Select Capital Inc. (“Sentry Select” or the “Administrator”), as the administrator of the Trust, has completed its internal review process, announced by news release on December 29, 2008, to determine whether holders of the Trust's Capital Units who participated in the Trust's 2008 special annual retraction were entitled to an additional payment. The Administrator concluded that the amount paid to the retracting unitholders was determined correctly in accordance with the terms of the Trust’s Amended and Restated Trust Agreement. Accordingly, the contingent reserve in the amount of $1,193,026, the creation of which was announced in the news release, has been cancelled.

Oil Sands Split Trust: Oil Sands Split Trust offers investors both Preferred Securities and Capital Units. The Trust holds units of Canadian Oil Sands Trust in order to fund quarterly fixed-interest payments on the Trust’s Preferred Securities and to enable the holders of the Trust’s Capital Units to participate in any capital appreciation in the Canadian Oil Sands Trust units and to benefit from any increase in the distributions paid on those units.

Sentry Select Capital Corp.: Sentry Select Capital Inc. is a Canadian wealth management company that 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/media inquiries) orKevin Cohen (Vice-President, Operations & Legal)Tel: 1-888-730-4623Fax: 416-364-1197Email: info@sentryselect.com

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 Sentry Select The forward-looking statements are not historical facts but reflect Sentry Select’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 exact amount of the contingent reserve and the date upon with such contingent reserve is cancelled. 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.


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).