Sentry Select MBS Adjustable Rate Income Fund II (TSX:MGS.UN) Announces August Distribution

TORONTO, ONTARIO–(EMWNews – Aug. 19, 2008) – Sentry Select Capital Corp. announces that the August distribution for Sentry Select MBS Adjustable Rate Income Fund II (the “Fund”)(TSX:MGS.UN) will be $0.03 per unit. The distribution will be paid on September 15, 2008 to all unitholders of record on August 29, 2008.

The stated objective of the Fund is to provide unitholders with a stream of tax-efficient monthly cash distributions that, in any year, are targeted to approximate the average 10-year U.S. Treasury yield plus 3.00%. As of August 15, 2008, the 10-year U.S. Treasury yield was 3.83%, bringing the Fund’s current target yield to 6.83%.

Sentry Select Capital Corp.

Sentry Select Capital Corp. is a Canadian wealth management company that manages over $6 billion in assets as of June 30, 2008. The company 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 Capital Corp. (“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 ability of Sentry Select to pay the distributions in the amounts and on the dates specified. 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.

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