Sentry Select Capital Corp.

Sentry Select Capital Corp.

August 14, 2006 17:00 ET

Sentry Select Diversified Income Trust 'TSX:SDT.UN' Announces Exchange Offer

TORONTO, ONTARIO--(CCNMatthews - Aug. 14, 2006) - Sentry Select Capital Corp. is pleased to announce that Sentry Select Diversified Income Trust (the "Trust") has filed a preliminary short-form prospectus across Canada, qualifying units of the Trust (the "Trust Units") to be issued in connection with its exchange offer (the "Exchange Offer") for securities of issuers (the "Issuers") listed below.

Deposit date and closing

The Exchange Offer will be open for acceptance by holders of securities of the Issuers until 4:00 pm (Toronto time) on September 12, 2006 (the "Deposit Date"). The closing is expected to occur on or about September 21, 2006.

Exchange ratio

Trust Units may be purchased by the exchange of eligible securities of any Issuer named below. The number of Trust Units issuable for the securities of each Issuer (the "Exchange Ratio") will be determined by dividing the weighted average trading price of such securities on the Toronto Stock Exchange ("TSX") during the period of three consecutive trading days ending on the Deposit Date (the "Pricing Period") by the weighted average trading price of the Trust Units on the TSX during the Pricing Period.

Acceptance

The Exchange Offer will remain open for acceptance until 4:00 p.m. (Toronto time) on September 12, 2006. The Exchange Offer may be accepted only by means of a book-entry deposit through CDS. Holders of securities of an Issuer who wish to accept the Exchange Offer must request their CDS Participant to effect the deposit for them, and should do so no later than September 11, 2006, to ensure that their securities are included in the deposit to be made through CDS on September 12, 2006. Some nominees may require an earlier deadline for receiving instructions concerning a deposit.



Issuers

ENERGY

Advantage Energy Income Fund (AVN.UN)
ARC Energy Trust (AET.UN)
Avenir Diversified Income Trust (AVF.UN)
Baytex Energy Trust (BTE.UN)
Bonavista Energy Trust (BNP.UN)
Bonterra Energy Income Trust (BNE.UN)
Canadian Oil Sands Trust (COS.UN)
Canetic Resources Trust (CNE.UN)
Crescent Point Energy Trust (CPG.UN)
Daylight Energy Trust (DAY.UN)
Enerplus Resources Fund (ERF.UN)
Enterra Energy Trust (ENT.UN)
Esprit Energy Trust (EEE.UN)
Fairborne Energy Trust (FEL.UN)
Focus Energy Trust (FET.UN)
Freehold Royalty Trust (FRU.UN)
Harvest Energy Trust (HTE.UN)
NAL Oil and Gas Trust (NAE.UN)
NAV Energy Trust (NVG.UN)
Paramount Energy Trust (PMT.UN)
Pengrowth Energy Trust (PGF.A)
Penn West Energy Trust (PWT.UN)
Peyto Energy Trust (PEY.UN)
PrimeWest Energy Trust (PWI.UN)
Progress Energy Trust (PGX.UN)
Provident Energy Trust (PVE.UN)
Sequoia Oil & Gas Trust (SQE.UN)
Shiningbank Energy Income Fund (SHN.UN)
Thunder Energy Trust (THY.UN)
Trilogy Energy Trust (TET.UN)
True Energy Trust (TUI.UN)
Vault Energy Trust (VNG.UN)
Vermilion Energy Trust (VET.UN)
Zargon Energy Trust (ZAR.UN)

RESOURCE

Acadian Timber Income Fund (ADN.UN)
Canfor Pulp Income Fund (CFX.UN)
Fording Canadian Coal Trust (FDG.UN
Labrador Iron Ore Royalty Income Fund LIF.UN)
Noranda Income Fund (NIF.UN)
SFK Pulp Fund (SFK.UN)
Sun Gro Horticulture Income Fund (GRO.UN)
TimberWest Forest Corp. (TWF.UN)

POWER

Algonquin Power Income Fund (APF.UN)
Atlantic Power Corp. (ATP.UN)
Boralex Power Income Fund (BPT.UN)
Calpine Power Income Fund (CF.UN
Clean Power Income Fund (CLE.UN)
Countryside Power Income Fund (COU.UN)
Creststreet Power & Income Fund LP (CRS.UN)
Epcor Power LP (EP.UN)
Great Lakes Hydro Income Fund (GLH.UN)
Innergex Power Income Fund (IEF.UN)
Macquarie Power & Infrastructure Income MPT.UN)
Northland Power Income Fund (NPI.UN)
Primary Energy Recycling Corporation (PRI.UN)
TransAlta Power, L.P. (TPW.UN)

UTILITIES INFRASTRUCTURE

AltaGas Income Trust (ALA.UN)
Amtelecom Income Fund (AMT.UN)
Bell Aliant Regional Communications Income Fund (BA.UN)
Bell Nordiq Income Fund (BNQ.UN)
The Consumers' Waterheater Income Fund (CWI.UN)
Duke Energy Income Fund (DET.UN)
Enbridge Income Fund (ENF.UN)
Fort Chicago Energy Partners L.P. (FCE.UN)
Gaz Metro Limited Partnership GZM.UN)
Inter Pipeline Fund (IPL.UN)
Keyera Facilities Income Fund (KEY.UN)
Pembina Pipeline Income Fund (PIF.UN)
Royal Utilities Income Fund (RU.UN)
Taylor NGL Limited Partnership (TAY.UN)
UE Waterheater Income Fund (UWH.UN)

CONSUMER

A & W Revenue Royalties Income Fund (AW.UN)
Aeroplan Income Fund (AER.UN)
Arctic Glacier Income Fund (AG.UN)
Art In Motion Income Fund (AIM.UN)
Associated Brands Income Fund (ABF.UN)
AutoCanada Income Fund (ACQ.UN)
Benvest New Look Income Fund (BCI.UN)
Big Rock Brewery Income Trust (BR.UN)
Boston Pizza Royalties Income Fund (BPF.UN)
The Brick Group Income Fund (BRK.UN)
Carfinco Income Fund (CFN.UN)
Chesswood Income Fund (CHW.UN)
CI Financial Income Fund (CIX.UN)
Cineplex Galaxy Income Fund (CGX.UN)
Clearwater Seafoods Income Fund (CLR.UN)
CML Healthcare Income Fund (CLC.UN)
Coast Wholesale Appliances Income Fund (CWA.UN)
Colabor Income Fund (CLB.UN)
Connors Bros. Income Fund (CBF.UN)
Custom Direct Income Fund (CDI.UN)
Davis+Henderson Income Fund (DHF.UN)
Dominion Citrus Income Fund (DOM.UN)
E.D. Smith Income Fund (JAM.UN)
Energy Savings Income Fund (SIF.UN)
Entertainment One Income Fund (EOF.UN)
Firm Capital Mortgage Investment Trust (FC.UN)
First National AlarmCap Income Fund (FNA.UN)
FMF Capital Group Ltd. (FMF.UN)
Futuremed Healthcare Income Fund (FMD.UN)
Gamehost Income Fund (GH.UN)
Gateway Casinos Income Fund (GCI.UN)
GMP Capital Trust (GMP.UN)
The Golf Town Income Fund (GLF.UN)
Hartco Income Fund (HCI.UN)
Home Equity Income Trust (HEQ.UN)
Hot House Growers Income Fund (VEG.UN)
KCP Income Fund (KCP.UN)
The Keg Royalties Income Fund (KEG.UN)
Keystone North America Inc. (KNA.UN)
Lakeport Brewing Income Fund (TFR.UN)
Liquor Barn Income Fund (LBN.UN)
Liquor Stores Income Fund (LIQ.UN)
Madacy Entertainment Income Fund (MEG.UN)
Medical Facilities Corporation (DR.UN)
Medisys Health Group Income Fund (MHG.UN)
Menu Foods Income Fund (MEW.UN)
Movie Distribution Income Fund (FLM.UN)
Newport Partners Income Fund (NPF.UN)
North West Company Fund (NWF.UN)
Parkland Income Fund (PKI.UN)
PDM Royalties Income Fund (PDM.UN)
Pizza Pizza Royalty Income Fund (PZA.UN)
Pollard Banknote Income Fund (PBL.UN)
Premium Brands Income Fund (PBI.UN)
Prime Restaurants Royalty Income Fund (EAT.UN)
Priszm Canadian Income Fund (QSR.UN)
Rainmaker Income Fund (RNK.UN)
Rogers Sugar Income Fund (RSI.UN)
Royal LePage Franchise Services Fund (RSF.UN)
SCI Income Trust (SMN.UN)
Second Cup Royalty Income Fund (SCU.UN)
SIR Royalty Income Fund (SRV.UN)
Sleep Country Canada Income Fund (Z.UN)
Somerset Entertainment Income Fund (SOM.UN)
Specialty Foods Group Income Fund (HAM.UN)
Stephenson's Rental Services Income Fund (RNT.UN)
The Sterling Shoes Income Fund (SSI.UN)
Swiss Water Decaffeinated Coffee Income Fund (SWS.UN)
Teranet Income Fund (TF.UN)
Voxcom Income Fund (VOX.UN)
XS Cargo Income Fund (XSC.UN)

INDUSTRIALS

ACS Media Income Fund (AYP.UN)
Ag Growth Income Fund (AFN.UN)
Altus Group Income Fund (AIF.UN)
Armtec Infrastructure Income Fund (ARF.UN)
Arriscraft International Income Fund (AIN.UN)
Atlas Cold Storage Income Trust (FZR.UN)
ATS Andlauer Income Fund (ATS.UN)
Badger Income Fund (BAD.UN)
BFI Canada Income Fund (BFC.UN)
Bird Construction Income Fund (BDT.UN)
Bonnett's Energy Services Trust (BT.UN)
Boyd Group Income Fund (BYD.UN)
Builders Energy Services Trust (BET.UN)
Canada Cartage Diversified Income Fund (TRK.UN)
CCS Income Trust (CCR.UN)
Canadian Energy Services L.P. (CEU.UN)
Canadian Helicopters Income Fund (CHL.UN)
Canexus Income Fund (CUS.UN)
CanWel Building Materials Income Fund (CWX.UN)
CanWest MediaWorks Income Fund (CWM.UN)
Cargojet Income Fund (CJT.UN)
Cathedral Energy Services Income Fund (CET.UN)
Chemtrade Logistics Income Fund (CHE.UN)
Cinram International Income Fund (CRW.UN)
Contrans Income Fund (CSS.UN)
The Data Group Income Fund (DGI.UN)
DirectCash Income Fund (DCI.UN)
Essential Energy Services Trust (ESN.UN)
Eveready Income Fund (EIS.UN)
Foremost Income Fund (FMO.UN)
FP Newspapers Income Fund (FP.UN)
General Donlee Income Fund (GDI.UN)
GENIVAR Income Fund (GNV.UN)
Gienow Windows and Doors Income Fund (GIF.UN)
Granby Industries Income Fund (GBY.UN)
Great Lakes Carbon Income Fund (GLC.UN)
Halterm Income Fund (HAL.UN)
Hardwoods Distribution Income Fund (HWD.UN)
High Arctic Energy Services Trust (HWO.UN)
IAT Air Cargo Facilities Income Fund (ACF.UN)
IBI Income Fund (IBG.UN)
Jazz Air Income Fund (JAZ.UN)
K-Bro Linen Income Fund (KBL.UN)
Livingston International Income Fund (LIV.UN)
Morneau Sobeco Income Fund (MSI.UN)
Mullen Group Income Fund (MTL.UN)
New Flyer Industries Inc. (NFI.UN)
Newalta Income Fund (NAL.UN)
Norcast Income Fund (NCF.UN)
Oceanex Income Fund (OAX.UN)
OFI Income Fund (OFB.UN)
Osprey Media Income Fund (OSP.UN)
Peak Energy Services Trust (PES.UN)
Phoenix Technology Income Fund (PHX.UN)
Precision Drilling Trust (PD.UN)
PRT Forest Regeneration Income Fund (PRT.UN)
Resolve Business Outsourcing Income Fund (RBO.UN)
Richards Packaging Income Fund (RPI.UN)
Spinrite Income Fund (SNF.UN)
Stoneham Drilling Trust (SDG.UN)
Strongco Income Fund (SQP.UN)
Student Transportation of America Ltd. (STB.UN)
Superior Plus Income Fund (SPF.UN)
Supremex Income Fund (SXP.UN)
TerraVest Income Fund (TI.UN)
Total Energy Services Trust (TOT.UN)
TransForce Income Fund (TIF.UN)
Tree Island Wire Income Fund (TIL.UN)
Trimac Income Fund (TMA.UN)
Trinidad Energy Services Income Trust (TDG.UN)
Versacold Income Fund (ICE.UN)
Vicwest Income Fund (VIC.UN)
Wajax Income Fund (WJX.UN)
Wellco Energy Services Inc. (WLL.UN)
Westshore Terminal Income Fund (WTE.UN)
Yellow Pages Income Fund (YLO.UN)

REAL ESTATE

Alexis Nihon Real Estate Investment Trust (AN.UN)
Allied Properties Real Estate Investment Trust (AP.UN)
Boardwalk Real Estate Investment Trust (BEI.UN)
Calloway Real Estate Investment Trust (CWT.UN)
Canadian Apartment Properties Real Estate Investment Trust (CAR.UN)
Canadian Hotel Income Properties Real Estate Investment Trust (HOT.UN)
Canadian Real Estate Investment Trust (REF.UN)
Chartwell Seniors Housing Real Estate Investment Trust (CSH.UN)
Cominar Real Estate Investment Trust (CUF.UN)
Crombie Real Estate Investment Trust (CRR.UN)
Dundee Real Estate Investment Trust (D.UN)
First Capital Realty Inc. (FCR)
H&R Real Estate Investment Trust (HR.UN)
Holloway Lodging Real Estate Investment Trust (HLR.UN)
Huntingdon Real Estate Investment Trust (HNT.UN)
InnVest Real Estate Investment Trust (INN.UN)
Instorage Real Estate Investment Trust (IS.UN)
IPC US Real Estate Investment Trust (IUR.UN)
Lakeview Hotel Real Estate Investment Trust (LHR.UN)
Lanesborough Real Estate Investment Trust (LRT.UN)
Legacy Hotels Real Estate Investment Trust (LGY.UN)
Morguard Real Estate Investment Trust (MRT.UN)
Northern Property Real Estate Investment Trust (NPR.UN)
Primaris Retail Real Estate Investment Trust (PMZ.UN)
Retirement Residences Real Estate Investment Trust (RRR.UN)
Retrocom Mid-Market Real Estate Investment Trust (RMM.UN)
RioCan Real Estate Investment Trust (REI.UN)
Royal Host Real Estate Investment Trust (RYL.UN)
Scotts Real Estate Investment Trust (SRQ.UN)
Summit Real Estate Investment Trust (SMU.UN)
Sunrise Senior Living Real Estate Investment Trust (SZR.UN)
Westfield Real Estate Investment Trust (WFD.UN)
Whiterock Real Estate Investment Trust (WRK.UN)

Dealer manager

National Bank Financial has been engaged as the dealer manager for
the Exchange Offer.

Sentry Select Diversified Income Trust

Sentry Select Diversified Income Trust is a closed-end trust that aims
to maximize distributions to unitholders by investing primarily in a
broad range of royalty and income trusts, real estate investment trusts
and other high-yielding securities.

Distribution reinvestment plan

The Trust offers a distribution reinvestment plan whereby residents
of Canada may elect to have their cash distributions reinvested in
additional units of the Trust.

Website

To find out more about the Trust, including portfolio holdings,
net asset values and investment objectives,
please go to www.sentryselect.com.


Sentry Select Capital Corp.

Sentry Select Capital Corp. provides investment, administrative
and marketing services to 32 exchange-listed closed-end funds and
corporations, including preferred securities and debentures, 16 mutual
funds, 15 principal-protected notes and three flow-through limited
partnerships. Sentry Select is one of the largest Canadian investment
managers in the income trust sector. As of June 30, 2006, the firm had
over $8.0 billion in gross assets under management.

The Exchange Offer is not a take-over bid for any of the issuers and is
not, and under no circumstances is to be construed as, an offering of
any Trust Units for sale in the U.S. or to any resident thereof.


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

Contact Information

  • Sentry Select Capital Corp.
    Investor Services (broker/investor inquiries)
    1 (888) 246-6656
    or
    Sentry Select Capital Corp.
    Kinga Lam
    (media inquiries)
    1 (888) 246-6656
    (416) 364-1330 (FAX)
    info@sentryselect.com
    www.sentryselect.com