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Sentry Select Capital Inc. proposes mutual fund mergers
2010-01-21

TORONTO: Sentry Select Capital Inc. (“Sentry Select”), the manager of the Terminating Funds and Continuing funds, proposes that the following Terminating Funds be merged (the “Mergers”) into the Continuing Funds as follows:

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             Terminating Funds                      Continuing Funds
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Sentry Select Balanced Class(i)           Sentry Select Canadian Income
                                           Class(i)
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Sentry Select Balanced Fund               Sentry Select Canadian Income Fund
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Sentry Select Canadian Energy Growth      Sentry Select Canadian Income
 Class(i)                                  Class(i)
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Sentry Select Canadian Energy Growth Fund Sentry Select Energy Income Fund
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Sentry Select Dividend Growers Fund       Sentry Select Canadian Income Fund
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(i) each a class of shares of Sentry Select Corporate Class Ltd.

The Mergers: Special Meetings of Unitholders (the “Meetings) are expected to be held on or about May 25, 2010 to seek unitholder approval for the Mergers. A Joint Management Information Circular providing details of each Merger as well as Proxy Voting Forms will be sent to those unitholders entitled to receive them in due course.

If the Mergers in respect of either the Sentry Select Balanced Class or the Sentry Select Canadian Energy Growth Class are not approved by unitholders, approval will be sought at the Meetings to terminate the applicable fund.

Sentry Select will be sending a notice to unitholders of Sentry Select Balanced Fund, Sentry Select Dividend Growers Fund and Sentry Select Canadian Energy Growth Fund indicating that the funds will be terminated in the event that any of their respective Mergers are not approved by unitholders at the Meetings.

In addition to unitholder approval, the Mergers also remain subject to regulatory approval as well as the recommendations of the Independent Review Committee for each of the Terminating Funds and Continuing Funds.

In anticipation of receiving the requisite approvals for the Mergers, sales of securities of the Terminating Funds, other than with respect to existing Pre-Authorized Chequing Plans, will be suspended at 4:00 p.m. on January 29, 2010.

Costs of the Merger: All costs and expenses associated with the Mergers will be borne by Sentry Select.

Investment objectives of Continuing Funds: Sentry Select Canadian Income Fund is an open-end mutual fund with approximately $770.3 million in assets as at December 31, 2009. The investment objective of the fund is to provide a consistent monthly income and capital appreciation by investing primarily in a diversified portfolio of Canadian securities including equities, fixed-income instruments, Real Estate Investment Trusts and income trusts.

Sentry Select Canadian Income Class is an open-end mutual fund with approximately $37.6 million in assets as at December 31, 2009. The fund’s investment objective is to provide long-term returns by investing substantially all of its assets in securities of Sentry Select Canadian Income Fund.

Sentry Select Energy Income Fund is an open-end mutual fund with approximately $79.2 million in assets as at December 31, 2009. The fund’s investment objective is to provide regular income and long-term capital appreciation by investing primarily in a diversified portfolio of equity securities of Canadian companies involved in the energy sector.

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 investment funds, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates.

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 the Sentry Select's current expectations regarding future results or events including, but not limited to, the proposed timing of the Meetings. 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. Although the 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. For a complete disclosure record of each of the Terminating Funds and Continuing Funds, please visit www.sedar.com.


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).