Unitholders approve restructuring of Diversified Preferred Share Trust

TORONTO, ONTARIO--(Marketwired - April 22, 2013) - The Board of Trustees (the "Trustees") of Diversified Preferred Share Trust (the "Trust") announces that, at the reconvened special meeting held on April 22, 2013, unitholders approved the restructuring of the Trust into an open-end mutual fund to be administered in compliance with National Instrument 81-102 - Mutual Funds, as well as other matters ancillary thereto, including a change in the Trust's investment objective (the "Restructuring"). Full details regarding the proposed Restructuring are set out in the management information circular dated March 12, 2013 (the "Information Circular") that was sent to unitholders of record on March 19, 2013. The following events, as disclosed in the Information Circular, will occur on or about the dates specified below:

Sentry Investments

Sentry Investments was founded in 1997 and has grown to become one of Canada's largest and fastest-growing independent asset management companies. Sentry manages $10 billion in assets on behalf of more than 300,000 Canadian investors. Sentry offers a diverse range of award-winning investment products available through financial advisors, including domestic, international and income-oriented mutual funds and separately managed accounts. Sentry is one of only three firms to receive four consecutive Brendan Wood International TopGun Asset Management Team Awards (2009 to 2012).

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 or the Trustees. The forward-looking statements are not historical facts but reflect Sentry's and the Trustee'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, including, but not limited to, the proposed timing for the delisting of the Trust's units from the TSX and the implementation of the Restructuring. Although Sentry and the Trustees believe 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 nor the Trustees undertake any 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 www.sedar.com.