SCITI Total Return Trust Provides Summary of Operations for the Month of March 2011 and Confirms Final Redemption

TORONTO, April 27 /CNW/ - SCITI Total Return Trust (the "Trust") provides the following unaudited summary of operations for the month ended March 31, 2011.

During the month, distributions and other income, net of expenses, earned by the Trust amounted to approximately $0.04 million or $0.03 per unit. In line with its investment mandate, this amount will be reinvested in income fund units included in the Trust's portfolio. The net asset value per unit as at March 31, 2011 was $14.44. From inception to March 31, 2011 a total of $2.71 per unit has been either reinvested in the underlying portfolio or used to repurchase units.

All outstanding units will be redeemed by the Trust on May 16, 2011 in accordance with the provisions as detailed in the prospectus dated April 27, 2006. The redemption of units will constitute a taxable disposition of the Trust's units at the time of the redemption.

A further press release will be issued by the Trust in connection with the redemption price on May 13, 2011. Payment of the amounts due to holders of Units will be made by the Trust on May 16, 2011.

The Trust provides holders of units with tax efficient exposure to the total return of an approximately equally weighted portfolio of 96 income funds and corporations.

Units are listed for trading on the TSX under the symbol STF.UN.

SOURCE SCITI Total Return Trust

For further information:

Investor Relations
SCITI Total Return Trust
(416) 945-5369
E-mail: mc_scititrt@scotiacapital.com
Web site: www.scotiamanagedcompanies.com

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