SCITI ROCS Trust Declares Monthly Distribution and Announces Completion of
Reorganization

TORONTO, May 18 /CNW/ - The Board of Directors of SCITI ROCS Limited in its capacity as Trustee for SCITI ROCS Trust (the "Trust") has declared a cash distribution of $0.055 per Trust Unit.

Record and payment dates are as follows:

    
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    Record Date             Payment Date      Distribution Amount/Trust Unit
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    May 31, 2010           June 15, 2010                   $0.055
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The Trust also announced the completion of its reorganization. As a result of the five year extension of the Trust and its new investment mandate, the Trust invests in the equity securities of income funds, corporations and other entities that reflect the makeup of the 50 highest yielding issuers included in the Scotia Capital High Yielding Index (the "Scotia HYE Index") on an approximately equal weight basis subject to a maximum weighting in any one sector of 25%. This Scotia HYE Index tracks, on an equal weight basis, the 75 highest yielding equity securities listed on the Toronto Stock Exchange without regard to corporate structure. In order to be eligible for the Scotia HYE Index, potential constituents will have to meet certain inclusion criteria including having a minimum market capitalization of $300 million at the time of inclusion in the Scotia HYE Index. The investment mandate has been designed to provide Unitholders with exposure to a well diversified, high yielding portfolio that is responsive to changes in the income trust market and the pending tax changes that will affect most income trusts in 2011.

Unitholders are entitled to receive monthly distributions as declared by the Trustee of the Trust. The Trustee generally intends to declare and pay monthly distributions to the extent of forecasted distributions to be received for a calendar quarter from the underlying portfolio, less the estimated operating expenses for the period.

The units of the Trust are listed for trading on The Toronto Stock Exchange under the symbol SCI.UN.

%SEDAR: 00021988E

For further information: Investor Relations, SCITI ROCS Limited, Trustee of SCITI ROCS, [phone], E-mail: [email protected], Web site: www.scotiamanagedcompanies.com