CAPVEST Income Corp.
TSX VENTURE : CVS

CAPVEST Income Corp.
Sentry Select Capital Corp.

Sentry Select Capital Corp.

August 10, 2007 13:14 ET

CAPVEST Income Corp. (TSX-V:CVS) Releases 2007 Semi-Annual Financial Results

TORONTO, ONTARIO--(Marketwire - Aug. 10, 2007) - CAPVEST Income Corp. (the "Company")(TSX VENTURE:CVS)(TSX VENTURE:CVS.DB) is pleased to announce its 2007 semi annual financial results for the six-month period ended June 30, 2007.

Highlights

- In March 2007, Company shareholders approved the change of the Company's investment objectives from focusing on commodities futures contracts reflecting the RICI Portfolio and commodity-related income and royalty funds to focusing on investing, directly or indirectly, in a diversified group of infrastructure and energy companies. The Company intends to target an annual yield of approximately 6%, paid on its common shares.

- On March 26, 2007, the Company's common shares commenced trading on a consolidated basis on the TSX Venture Exchange. The consolidation occurred at a 15:1 ratio: for every 15 pre-consolidation common shares, shareholders of the Company received one post-consolidation common share.

- On May 24, 2007, the Company declared its first quarterly dividend of $0.025 per common share, payable to shareholders of record on June 29, 2007.

- The Company's net assets increased to $12,300,840 as of June 30, 2007 ($12,050,422 as of December 31, 2006) due to a gain on investments, foreign currency and other net assets of $634,442, investment income of $653,166 and a conversion of the debentures in the amount of $895,379, partially offset by the operating expenses.

- As of June 30, 2007, the Company's net asset value per common share, in accordance with Canadian GAAP, was $1.92.

2007 financial results

For the complete 2007 Semi-Annual Management Report of Fund Performance and Semi-Annual Financial Statements, please visit www.sentryselect.com or www.SEDAR.com.

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 7% convertible debentures trade under the symbols CVS and CVS.DB, respectively.

Sentry Select Capital Corp.

Sentry Select Capital Corp. is a Canadian wealth management company that manages over $8 billion in gross assets as of June 30, 2007. Sentry Select 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. With 29 reporting issuers, Sentry Select is the manager and/or advisor to more Toronto Stock Exchange-listed entities than any other investment manager. In addition, Sentry Select manages and/or provides advisory services to 4 reporting issuers listed on the TSX Venture Exchange.

This news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the future performance of the Company, including the potential for future distributions. These statements reflect Sentry Select's current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, Sentry Select cannot assure that the forward-looking statements contained in this news release will be realized.



The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4

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

Contact Information

  • Sentry Select Capital Corp.
    Investor Services (broker/investor inquiries)
    Toll Free: 1-888-246-6656
    (416) 364-1197 (FAX)
    or
    Sentry Select Capital Corp.
    Kinga Lam (media inquiries)
    Toll Free: 1-888-246-6656
    (416) 364-1197 (FAX)
    Email: info@sentryselect.com
    Website: www.sentryselect.com