Redemption:

Effective December 1, 2008, all preferred securities of Sentry Select 40 Split Income Trust were redeemed at $10.00 per preferred security payable in cash or, at the election of the holder, in capital units having a net asset value per capital unit equal to $10.00 together with a cash payment equal to the accrued and unpaid interest. The redemption resulted in a disposition of the preferred securities held.