SCITI Trust Announces Partial Exercise and Closing of Over-Allotment

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Jan. 6, 2012 /CNW/ - SCITI Limited, in its capacity as trustee for SCITI Trust (the "Trust"), is pleased to announce that the syndicate of agents for the previously announced offering of the Trust has exercised part of its over-allotment option and acquired an additional 224,944 units of the Trust today.  Together with the 5,911,000 units issued on December 14, 2011, the Trust issued a total of 6,135,944 units under the offering at a price of $12.69 per unit for gross proceeds of $77,865,129.36.

The Trust is an investment trust whose investment portfolio consists of income funds, corporations and other entities that reflect the makeup of the 50 highest yielding members of the Scotia Capital High Yielding Equity Index on an approximately equal weight basis in order to provide unitholders with a diversified and high yielding portfolio.  The units of the Trust are listed for trading on the Toronto Stock Exchange under the symbol SIN.UN.

The syndicate of agents for the offering was led by Scotia Capital Inc. and included BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., GMP Securities L.P., Raymond James Ltd., Desjardins Securities Inc., Mackie Research Capital Corporation, Macquarie Private Wealth Inc., Manulife Securities Incorporated, HSBC Securities (Canada) Inc., Industrial Alliance Securities Inc., Laurentian Bank Securities Inc., and Union Securities Ltd.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Investor Relations
SCITI Limited,
Trustee of SCITI Trust
[phone]
E-mail:  [email protected]
Web site: www.scotiamanagedcompanies.com
26th Floor, 40 King Street West, Toronto, Ontario M5W 2X6
Tel: [phone] Fax: [phone]