Leading Proxy Advisory Firm RiskMetrics Recommends Unitholders Vote FOR Sentry Select Diversified Income Fund's

TORONTO, ONTARIO, Jun 16 (MARKET WIRE) --
Sentry Select Capital Inc., the manager of Sentry Select Diversified
Income Fund (the "Fund") (TSX: SDT.UN), today announced that North
America's leading proxy advisory firm, RiskMetrics Group (formerly ISS
Governance Services), recommends that its clients support management's
proposed Restructuring of the Sentry Select Diversified Income Fund by
voting "FOR" this resolution at its 2009 Special Meeting of Unitholders
to be held on June 26, 2009 (the "Meeting").

"We are pleased to have the support of RiskMetrics whose recommendations
are closely followed by principal institutional shareholders," said John
Driscoll, President and CEO of Sentry Select Capital Inc. "After
consideration of numerous alternatives, we strongly believe that the
Restructuring proposal is in the best interest of all unitholders."

Among the benefits of the Restructuring to the unitholders of the Fund
are an immediate increase in realizable value for unitholders; reduced
management fees; increased liquidity of the Units and expanded investment
objectives. For more information on the Restructuring proposal we
encourage you to review the Management Information Circular dated May 26,
2009.

The Independent Directors strongly recommend that all unitholders vote
the proxy in support of the Fund Restructuring.

Your individual vote is extremely important. The resolution must be
approved by two-thirds of the votes cast. You may vote in person or by
form of proxy at the Meeting, but we strongly encourage you to complete
the form of proxy and submit according to the instructions prior to the
Meeting.

Voting is a very quick and easy process that empowers you to state your
position and protect your investment, but you must act and vote your
proxy by June 24, 2009 to ensure your position is recognized. If you have
any questions regarding voting your proxy, please contact Kingsdale
Shareholder Services Inc., at 1-800-749-9197 (toll free) or 416-867-2272
(outside of North America).

If you have any questions regarding the proposed Restructuring, please
contact Sentry Select's Investor Services at 1-888-730-4623.

IT IS EXTREMELY IMPORTANT THAT SHAREHOLDERS VOTE AS SOON AS POSSIBLE.

Sentry Select Diversified Income Fund

Sentry Select Diversified Income Fund is a closed-end investment trust
that aims to maximize distributions to unitholders by investing primarily
in high-income securities issued by a broad range of royalty and income
trusts, real estate investment trusts, and limited partnerships and, to a
lesser extent, fixed-income securities and high-yielding common stocks.

Sentry Select

Sentry Select is a Canadian wealth management company that offers a
diverse range of investment products including closed-end trusts, mutual
funds, principal-protected notes, flow-through limited partnerships and
hedge funds, 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, including the anticipated holdings
of the Fund. 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. For a complete disclosure record
for the Fund, please visit the Fund's profile at www.sedar.com.

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

Contacts:
Sentry Select Capital Inc.
Investor Services
(broker/investor inquiries)
1-888-730-4623
416-364-1197 (FAX)
info@sentryselect.com
www.sentryselect.com

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