OpenSky Capital Index Income Fund - Proposed liquidation and termination



    MONTREAL, Jan. 8 /CNW Telbec/ - OpenSky Capital Income Index Fund (symbol
TSX: "OMP.UN") announces that the trustee of the Fund has decided today to
call a special meeting of the holders of units to consider and approve the
liquidation and termination of the Fund. This decision was based on the
diminishing size of the Fund and its economic viability.
    The special meeting to consider and approve the liquidation and
termination will take place on or about March 12, 2008. A voting proxy and
proxy circular will be mailed on or about February 12, 2008 to holders of
trust units of record on the close of business on February 6, 2008. All
holders of units are requested to complete and return the voting proxy as soon
as possible. The proposed amendments must be approved by holders of at least
66 2/3 % of the units present in person or by proxy at the special meeting.
    The Fund, at the discretion of the trustee, intends to maintain monthly
distributions for the months prior to the Fund's liquidation and termination.
    If approved, the liquidation process will begin promptly after the
special meeting. As part of the liquidation of the Fund, all portfolio
securities of the Fund shall be subject to an orderly liquidation, and each
holder of units will receive a cash distribution, proportional to the number
of units held in the Fund upon the date of termination, representing the net
asset value per unit of the Fund available for distribution. The cash
distribution is expected to take as soon as possible after the meeting.
    As part of the termination process, the trustee has asked the
administrator of Fund, to set aside, as of today, a provision estimated at
approximately $85,000 ($0.05 per unit presently outstanding) to cover the
expenses and other costs relating to the liquidation and termination of the
Fund.




For further information:

For further information: Serge Fecteau, (514) 393-1818, 1-866-317-1818

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OPENSKY CAPITAL

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