Conversion to Open-End Fund Details:

Effective June 12, 2009, Select 50 S-1 Income Trust converted from a closed-end fund to an open-end mutual fund. Units of the fund were converted to 0.6429 Series A units of Sentry Select Canadian Income Fund for each unit of Select 50 S-1 Income Trust previously held. This was a taxable event, and the cost of the units of Sentry Select Canadian Income Fund received was their fair market value at the time of receipt. Enter this amount as proceeds of disposition for the Select 50 S-1 units.