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Global DiSCS Trust 2004-1 (TSX: DST.UN) announces General Motors Corporation Credit Event
2009-06-02

TORONTO: On June 2, 2009, the Calculation Agent for Global DiSCS Trust 2004-1 (the “Trust”) notified the Trust of a Credit Event in respect of General Motors Corporation (the “Company”). The Trust’s unitholders have an exposure to the Company of 0.50% of the Reference Portfolio. The Calculation Agent will carry out the valuation process in accordance with the terms of the Trust’s Declaration of Trust and this process should be completed by the end of July 2009.

The Trust units benefit from the protection of a synthetic first-loss tranche currently equal to 3.508% of the Reference Portfolio, pending the settlements of the Rouse Company and Idearc Inc. Credit Events which the Trust announced on March 25, 2009 and April 3, 2009, respectively. The initial 4.10% first-loss tranche was reduced as a result of the 2006 Delphi Corporation, and the 2008 Quebecor World Inc., Federal National Mortgage Association and Federal Home Loan Mortgage Corporation Credit Events.

Unitholders’ entitlement to receive $25.00 per Trust unit on December 20, 2009 (the “Maturity Date”) and quarterly distributions of $0.325 per unit will not be directly affected by this Credit Event. However, if the future Cumulative Net Loss Amount resulting from Credit Events exceeds the remaining first-loss tranche, the Trust’s unitholders will receive less than the original subscription price of $25.00 per Trust unit upon the Maturity Date.

Trading information: The Trust units are listed for trading on the Toronto Stock Exchange under the symbol DST.UN. The latest published net asset value of the Trust, as of June 1, 2009, was $19.34 per unit.

Sentry Select Capital Inc.: 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 inquiries)Tel: 1-888-730-4623Fax: 416-364-1197Email: info@sentryselect.com

Capitalized terms used herein but not defined have the meaning ascribed to them in the Trust’s final prospectus.

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 Capital Corp. (“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 proposed timing for the completion of the valuation process noted above. 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).