Sentry Select Capital Corp. Files Final Prospectus for an Initial Public Offering of Sentry Select Commodities Income Trust; $250,000,000 Maximum Offering.

TORONTO -- Sentry Select Capital Corp. ("Sentry Select" or the "Manager") is pleased to announce that it has filed a preliminary prospectus across Canada qualifying the initial public offering by Sentry Select Commodities Income Trust (the "Trust"), a closed-end investment trust of which Sentry Select will be the Manager and Trustee.

Offering Price

The offering price is $10 per unit and the minimum purchase quantity is 200 units ($2,000).

Investment Objectives

The Trust's investment objectives are to provide Unitholders with:

(i) monthly distributions (which for the first 12 months of the Trust are expected to be $0.05625 per Unit ($0.675 per annum or 6.75% of the original issue price)); and

(ii) the opportunity for capital appreciation over the term of the Trust.

The portfolio of the Trust will be constructed to initially provide approximately 25% exposure to the commodities that make up the Rogers International Commodity Index and approximately 75% exposure to a portfolio of commodity-related income funds.

The Agents

A syndicate of agents is being co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc., and includes National Bank Financial Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Capital Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Wellington West Capital Inc., Desjardins Securities Inc., Dundee Securities Corporation, First Associates Investments Inc., IPC Securities Corporation, Richardson Partners Financial Limited and Rothenberg Capital Management Inc.

Closing

The initial offering is expected to close on or about July 19, 2005.

The Manager

Sentry Select is the manager of the Trust. Sentry Select is also responsible for providing or arranging for the provision of administrative services required by the Trust. Sentry Select is a wealth management company with gross assets under management of approximately $7.0 billion.

It is the manager or portfolio manager of:

- Sentry Select Diversified Income Trust (TSX: SDT.UN);

- Diversified Income Trust II (TSX: DTT.UN);

- Select 50 S-1 Income Trust (TSX: SON.UN);

- Select 50 S-1 Income Trust II (TSX: SDE.UN);

- Pro-Vest Growth & Income Fund (TSX: PRG.UN);

- Sentry Select Focused Growth & Income Trust (TSX: SFG.UN);

- COmmercial and INdustrial Securities Income Trust "COINS" (TSX: COI.UN);

- Multi Select Income Trust (TSX: MST.UN, MST.PR.A);

- Alliance Split Income Trust (TSX: ASI.UN, ASI.PR.A);

- Premier Value Income Trust (TSX: PVN.UN);

- Strategic Energy Fund (TSX: SEF.UN);

- MBS Adjustable Rate Income Fund (TSX: MTF.UN);

- Sentry Select MBS Adjustable Rate Income Fund II (TSX: MGS.UN);

- Mortgage-Backed Securities Trust (TSX: MF.UN; TSX: MF.U);

- Sentry Select Blue-Chip Income Trust (TSX: SIT.UN);

- Sentry Select Global Index Income Trust (TSX: SGT.UN);

- CAPVEST Income Corp. (TSX-V: CVS);

- Sentry Select Principal-Protected Blue Chip Notes(TM) Series I - VI;

- Three flow-through limited partnerships; and

- Eight mutual funds that focus on a broad range of sectors of the economy.

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