SEF Private Issuers Trust announces that the Ontario Supreme Court of Justice has dismissed the lawsuit in respect of Strategic Energy Fund's 2007 Exchange Offering

TORONTO, ONTARIO--(Marketwire - Nov. 1, 2011) - SEF Private Issuers Trust (the "Trust") announces that yesterday Mr. Justice Newbould of the Ontario Superior Court of Justice (the "Court") issued reasons for judgment and has dismissed, with costs payable to the Defendants (as defined below), the claim brought by a group of off-shore hedge funds (the "Plaintiffs") against Strategic Energy Management Corp., the manager of Strategic Energy Fund (the "Fund"), Sentry Select Capital Corp., the Fund's investment advisor, and Computershare Trust Company of Canada, the Fund's trustee (collectively, the "Defendants"), in respect of the Fund's 2007 exchange offer. No word has yet been received as to whether the Plaintiffs plan to appeal yesterday's decision.

In connection with the Fund's 2009 conversion into an open-end mutual fund, the Trust was created to hold the Fund's private securities and facilitate their liquidation in an efficient and effective manner. In addition, the Fund provided the Trust with $3 million to be held as a reserve to satisfy certain assumed indemnification obligations, including any obligations owed by the Fund to the Defendants stemming from the above-noted claim. The Trust is continuing to liquidate its portfolio of private securities and will provide further updates as warranted.

Sentry Investments

Sentry Investments ("Sentry") is a Canadian asset management company with approximately $6.5 billion in assets under management on behalf of Canadian investors. We offer a diverse range of investment products including mutual funds, hedge funds, flow-through limited partnerships and other alternative investment products. Sentry Investments was recognized as Canada's Best Equity Fund Family at the Lipper Fund Awards 2011 and was one of only five companies in 2011 to receive the prestigious Brendan Wood International TopGun Asset Management Team Award.

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 and/or the Trust. The forward-looking statements are not historical facts but reflect Sentry's current expectations regarding future results or events including, but not limited to, the intended method of paying the redemption amounts owed to unitholders of the Trust. 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 and/or the Trust 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 and/or the Trust 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 the Trust, please visit the Trust's profile at www.sedar.com.

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