TORONTO: Sentry Select Capital Corp. (“Sentry Select” or the “Manager”) is pleased to announce the Exchange Ratios for 130/30 Mining LP (the “Partnership”) exchange option as announced in the preliminary prospectus of the offering dated April 21, 2008. The Partnership will issue Class A Units and Class F Units (collectively, the “Units”).

Cash option: Prospective purchasers may still purchase Units by cash payment until closing. The offering price is $10.00 per Class A Unit and $10.00 per Class F Unit.

Exchange option: The exchange option was open for acceptance by holders of Eligible Securities until 5:00 pm (Toronto time) on May 27, 2008 (the “Deposit Date”).

Investment objectives: The Partnership will invest in an actively managed long/short portfolio consisting primarily of equity and debt securities of metals and minerals mining and exploration issuers that are listed on a North American stock exchange using a 130/30 approach with the view to:

• providing limited partners with monthly cash distributions of 8% per annum (approximately $0.0667 per month) based on the initial price of Units; and
• enhancing the net asset value of the Partnership.

Exchange Ratios: The number of Units issuable for the Eligible Securities of an Exchange Issuer deposited by a prospective purchaser pursuant to the Exchange Option was determined by dividing the weighted average trading price of the Eligible Securities of such Exchange Issuer on the Toronto Stock Exchange during the three consecutive trading days ended on May 27, 2008, as adjusted to reflect distributions declared by an Issuer that will not be received by the Partnership; by $10.00.

Issuers and Exchange Ratios: The following table sets out the weighted average trading price of each Eligible Security and the Exchange Ratios used to determine the number of Units to be issued for each Eligible Security. The Exchange Ratios and other information disclosed below will be included in the final prospectus to be filed with the securities regulatory authorities across Canada. The Exchange Ratios are rounded down to four decimal places.

Sentry Select Capital Corp.: Sentry Select, the manager of the Partnership, is a Canadian wealth management company that manages over $6 billion in gross assets as of March 31, 2008.

Agents: The syndicate of agents is co-led by CIBC World Markets Inc., BMO Capital Markets and National Bank Financial Inc., and includes Canaccord Adams, HSBC Securities (Canada) Inc., Raymond James Ltd., Dundee Securities Corporation, GMP Securities L.P., Blackmont Capital Inc., Wellington West Capital Inc., Berkshire Securities Inc., Desjardins Securities Inc., Industrial Alliance Securities Inc., Jory Capital Inc., Laurentian Bank Securities Inc., Research Capital Corporation and Richardson Partners Financial Limited (the “Agents”).

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

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 the Partnership. 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. 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.

A preliminary prospectus dated April 21, 2008 containing important information relating to these securities has been filed with securities commissions or similar authorities in certain jurisdictions of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from any of the Agents. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.

All capitalized terms noted herein but not defined are as per the preliminary prospectus dated April 21, 2008