TORONTO: Sentry Select Diversified Income Trust is pleased to announce its financial results for the third quarter of 2006.

Highlights:
• On September 21, 2006 the Trust completed an Exchange Offer issuing 35,547,831 Trust units for gross proceeds of $208,889,718.
• As of September 30, 2006, the Trust’s net assets were $1,256,298,609, representing an increase of approximately 16.5% from $1,077,569,346 as of June 30, 2006. The largest factor in the increase was the Exchange Offer.
• In the third quarter of 2006, the Trust had an increase in net assets from operations of $9,411,928 (2005 – $91,785,182). The increase was mainly due to net realized gains on sale of investments and investment income, partially offset by unrealized depreciation of investments.
• In the third quarter of 2006, the Trust declared distributions of $0.2025 per unit, consisting of three monthly distributions of $0.0675 per unit ($0.0375 regular distribution and $0.03 special distribution).
• As of the last business day of the quarter, September 29, 2006, the Trust’s net asset value per unit was $5.73 and the Trust’s units closed on the Toronto Stock Exchange at $5.63 per unit.

Third quarter 2006 financial results: For the complete 2006 third quarter Management Report of Fund Performance and Financial Statements, please visit www.sentryselect.com or www.SEDAR.com.

Sentry Select Diversified Income Trust: Sentry Select Diversified Income Trust is a closed-end trust that aims to maximize distributions to unitholders by investing primarily in a broad range of royalty and income trusts, real estate investment trusts and other high-yielding securities.

Website: To find out more about the Trust, including portfolio holdings, net asset values and investment objectives, please visit www.sentryselect.com.

Sentry Select Capital Corp.: Sentry Select Capital Corp. is a wealth management company providing investment, administrative and marketing services to 33 exchange-listed closed-end funds and corporations, including preferred securities and debentures, 19 principal-protected notes, 16 mutual funds and four flow-through limited partnerships. Sentry Select is one of the largest Canadian investment managers in the income trust sector. As of October 31, 2006, the firm had over $8.0 billion in gross assets under management.

More information: Investor Services (broker/investor inquiries) or Kinga Lam (media inquiries)
Tel: 1-888-246-6656 Fax: 416-364-1197 info@sentryselect.com www.sentryselect.com