SSF.UN Symphony Floating Rate Senior Loan Fund

TORONTO, ONTARIO is pleased to announce that at a special meeting held today, the unitholders of Sentry Select FIDAC U.S. Mortgage Trust (TSX: SSF.UN) (the "Terminating Fund") approved the merger of the Terminating Fund with Sentry Select MBS Adjustable Rate Income Fund II (TSX: MGS.UN) ("ARIF II") (the "Merger").

Completion of the Merger

The effective date of the Merger is expected to be on or about March 7, 2008. The Terminating Fund will transfer all of its assets to ARIF II in exchange for units of ARIF II and the assumption by ARIF II of all the liabilities of the Terminating Fund. Each unitholder of the Terminating Fund will receive units of ARIF II having the same aggregate net asset value as their units of the Terminating Fund as of the close of business on the day prior to the Merger date.

The proposed Merger is subject to the acceptance and approval by the Toronto Stock Exchange ("TSX").

The Merger

The Manager believes that the Merger will result in significant benefits to unitholders for the following reasons:

- The larger, combined ARIF II will have the advantage of increased economies of scale and lower proportionate fund operating expenses;

- The Merger will eliminate the administrative and regulatory costs of operating separate investment funds;

- The Merger will provide greater liquidity on the TSX resulting from a greater market capitalization;

- Unitholders of the Terminating Fund will receive distributions more frequently since ARIF II pays distributions monthly while the Terminating Fund pays distributions quarterly; and

- The Merger will provide greater stability and predictability of distributions for the Terminating Fund unitholders, since ARIF II distributions are targeted to approximate the average 10-Year U.S. Treasury Note yield plus 3%, whereas the Terminating Fund has no targeted yield.

Costs of the Merger

All costs and expenses associated with the Merger will be borne by the Manager.

Sentry Select Capital Corp.

Sentry Select Capital Corp. is a Canadian wealth management company that manages approximately $8 billion in gross assets as of December 31, 2007. 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. Sentry Select is the manager and/or advisor to 30 TSX-listed reporting issuers. In addition, Sentry Select manages and/or provides advisory services to four reporting issuers listed on the TSX Venture Exchange.

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. 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.

The Exchange Tower
130 King Street West
Suite 2850, P.O. Box 104
Toronto, Ontario M5X 1A4
Telephone: (416) 861-8729
Fax: (416) 364-5615

Contacts: Sentry Select Capital Corp. Investor Services (broker/investor inquiries) 1-888-246-6656 (416) 364-1197 (FAX) Sentry Select Capital Corp. Kinga Lam (media inquiries) 1-888-246-6656 (416) 364-1197 (FAX) Email: info@sentryselect.com Website: www.sentryselect.com

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