Toronto: Sentry Select Capital Corp. (“Sentry Select”) is pleased to announce the exchange ratios for the Preferred Energy Split Corp. (the “Corporation”) Exchange Option, as announced in the preliminary prospectus of the Corporation dated July 5, 2007.

Cash option: Prospective purchasers may still acquire the Preferred Securities and Class A Shares for cash. The Offering price is $10.00 per Preferred Security and $15.00 per Class A Share.

Exchange option: The Exchange Option was open for acceptance by holders of Eligible Securities until 5:00 pm (Toronto time) on July 25, 2007 (the “Deposit Date”).

Investment options: The Corporation’s investment objectives are:

    a) with respect to the Preferred Securities: (i) to provide holders of Preferred Securities with fixed quarterly interest payments equal to 6.25% per annum on the principal amount of the Preferred Securities; and (ii) to return the original issue price of the Preferred Securities on or about December 31, 2010; and 
    b) with respect to the Class A Shares: (i) to provide holders of Class A Shares with monthly cash distributions (initially, to be $0.1125 per Class A Share representing a yield on the issue price of the Class A Shares of 9.0% per annum); and (ii) to provide holders of the Class A Shares with the opportunity for leveraged growth in net asset value per Class A Share after the repayment of the original issue price of the Preferred Securities.