Sentry Select Capital Inc.

Sentry Select Capital Inc.
Pro-Vest Growth & Income Trust

Multi-Select Income Trust

SENTRY SELECT FOCUSED GROWTH & INCOME TRUST

Select 50 S-1 Income Trust

June 16, 2009 16:23 ET

Sentry Select Capital Inc. Announces Completion of Mergers With Sentry Select Canadian Income Fund

TORONTO, ONTARIO--(Marketwire - June 16, 2009) - Sentry Select Capital Inc. ("Sentry Select" or the "Manager") is pleased to announce that the mergers of Sentry Select 40 Split Income Trust ("40 Split"), Pro-Vest Growth & Income Trust ("Pro-Vest"), Multi-Select Income Trust ("Multi-Select"), Sentry Select Focused Growth & Income Trust ("Focused Growth") and Select 50 S-1 Income Trust ("Select 50") (collectively the "Terminating Funds") with Sentry Select Canadian Income Fund (the "Continuing Fund") (the "Mergers"), became effective on June 12, 2009. The Mergers were approved at special meetings of unitholders of the Terminating Funds held concurrently on May 20, 2009.

The Terminating Funds transferred all of their assets to the Continuing Fund in exchange for Series A units of the Continuing Fund and the assumption by the Continuing Fund of all the liabilities of the Terminating Funds. Each unitholder of the Terminating Funds, except unitholders of 40 Split, received Series A units of the Continuing Fund having the same aggregate net asset value as their units of the Terminating Funds as of the close of business on June 11, 2009. Unitholders of 40 Split received Series A units of the Continuing Fund having the same aggregate net asset value as their units of 40 Split as of the close of business on June 12, 2009.

Each unitholder of 40 Split received 0.3689 Series A units of the Continuing Fund in exchange for each unit of 40 Split. Each unitholder of Pro-Vest received 0.6162 Series A units of the Continuing Fund in exchange for each unit of Pro-Vest. Each unitholder of Multi-Select received 0.3819 Series A units of the Continuing Fund in exchange for each unit of Multi-Select. Each unitholder of Focused Growth received 0.4373 Series A units of the Continuing Fund for each unit of Focused Growth. Each unitholder of Select 50 received 0.6429 Series A units of the Continuing Fund for each unit of Select 50.

Costs of the Mergers

All costs and expenses associated with the Mergers are borne by the Manager.

Sentry Select Capital Inc.

Sentry Select Capital Inc. is a Canadian wealth management company that manages 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.

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. 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.



Sentry Select Capital Inc.
The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615


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