Sentry Select Capital Inc. Announces Completion of Mergers With Sentry Select Canadian Income Fund

TORONTO, ONTARIO, Jun 16 (MARKET WIRE) --
Sentry Select Capital Inc. ("Sentry Select" or the "Manager") is pleased
to announce that the mergers of Sentry Select 40 Split Income Trust ("40
Split"), Pro-Vest Growth & Income Trust ("Pro-Vest"), Multi-Select Income
Trust ("Multi-Select"), Sentry Select Focused Growth & Income Trust
("Focused Growth") and Select 50 S-1 Income Trust ("Select 50")
(collectively the "Terminating Funds") with Sentry Select Canadian Income
Fund (the "Continuing Fund") (the "Mergers"), became effective on June
12, 2009. The Mergers were approved at special meetings of unitholders of
the Terminating Funds held concurrently on May 20, 2009.

The Terminating Funds transferred all of their assets to the Continuing
Fund in exchange for Series A units of the Continuing Fund and the
assumption by the Continuing Fund of all the liabilities of the
Terminating Funds. Each unitholder of the Terminating Funds, except
unitholders of 40 Split, received Series A units of the Continuing Fund
having the same aggregate net asset value as their units of the
Terminating Funds as of the close of business on June 11, 2009.
Unitholders of 40 Split received Series A units of the Continuing Fund
having the same aggregate net asset value as their units of 40 Split as
of the close of business on June 12, 2009.

Each unitholder of 40 Split received 0.3689 Series A units of the
Continuing Fund in exchange for each unit of 40 Split. Each unitholder of
Pro-Vest received 0.6162 Series A units of the Continuing Fund in
exchange for each unit of Pro-Vest. Each unitholder of Multi-Select
received 0.3819 Series A units of the Continuing Fund in exchange for
each unit of Multi-Select. Each unitholder of Focused Growth received
0.4373 Series A units of the Continuing Fund for each unit of Focused
Growth. Each unitholder of Select 50 received 0.6429 Series A units of
the Continuing Fund for each unit of Select 50.

Costs of the Mergers

All costs and expenses associated with the Mergers are borne by the
Manager.

Sentry Select Capital Inc.

Sentry Select Capital Inc. is a Canadian wealth management company that
manages 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.

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. 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.

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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