Global DiSCS Trust 2004-1 (TSX: DST.UN) Announces Idearc Inc. Credit Event Settlement

TORONTO, ONTARIO, Jul 13 (MARKET WIRE) --
Global DiSCS Trust 2004-1 (the "Trust") (TSX: DST.UN) announces that the
final recovery amount of the Idearc Inc. (the "Company") Credit Event is
2.545%. The Bankruptcy Credit Event will not result in any reduction in
collateral or an investor's capital amount.

Credit event

On April 2, 2009, the Trust was notified of a Credit Event in respect of
Idearc Inc. The Trust's unitholders have an exposure to the Company of
0.25% of the Reference Portfolio as a result of a demerger from Verizon
Communications Inc.

Following the Company's Bankruptcy Credit Event, the Trust's remaining
synthetic first-loss tranche protection is 2.904% of the Reference
Portfolio. The initial 4.10% first-loss tranche was reduced to 3.153% as
a result of the 2006 Delphi Corporation, the 2008 Quebecor World Inc.,
the 2008 Federal National Mortgage Association and Federal Home Loan
Mortgage Corporation, and the 2009 The Rouse Company Credit Events.

Unitholders' entitlement to receive $25 per Trust unit on December 20,
2009 (the "Maturity Date") and quarterly distributions of $0.325 per unit
will not be affected by this Bankruptcy Credit Event. However, if the
future Cumulative Net Loss Amounts resulting from Credit Events exceed
2.904%, the Trust's unitholders will receive less than the original
subscription price of $25 per Trust unit upon the Maturity Date.

Trading information and NAV

The units of Global DiSCS Trust 2004-1 are listed for trading on the
Toronto Stock Exchange under the symbol DST.UN. As of July 10, 2009, the
net asset value of the Trust was $20.07 per unit.

Sentry Select Capital Inc.

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

All capitalized terms used herein, but not defined are as per the Trust's
Prospectus.

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 but not limited to the
timing associated with the payment of quarterly distributions or the
principal amount per unit. 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 and media inquiries)
1-888-730-4623
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info@sentryselect.com
www.sentryselect.com

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