SCITI Trust II Declares Monthly Distribution



    TORONTO, June 14 /CNW/ - The Board of Directors of SCITI Limited in its
capacity as Trustee for SCITI Trust II ("SCITI II") has declared a cash
distribution of $0.0910 per Trust Unit, payable on July 13, 2007 to holders of
record at the close of business on June 28, 2007. Consequently, the twelve
month trailing distribution totals $1.3420 (June 2006 - $1.3210) per Unit.
    Historically, monthly distributions have been paid on a varying payout
schedule based on distributions received in the month from the underlying
income funds in SCITI II's portfolio, less SCITI II's estimated operating
expenses for the period. Commencing in July, the Trustee intends to declare
and pay an equal monthly distribution for each calendar quarter based on
forecasted distributions to be received in the quarter from the underlying
income funds in SCITI II's portfolio, less SCITI II's estimated operating
expenses for the period.

    SCITI II is an investment trust which provides investors with a high
current yield and low cost diversification through a portfolio of the 100
largest income funds (approximately weighted on a float capitalization basis)
included in the Scotia Capital Income Trust Index.
    Trust Units of SCITI II are listed for trading on The Toronto Stock
Exchange under the symbol CIT.UN.

    %SEDAR: 00019832E




For further information:

For further information: Investor Relations, SCITI Limited, Trustee of
SCITI Trust II, (416) 945-4173, E-mail: mc_sciti2@scotiacapital.com, Web site:
www.scotiamanagedcompanies.com

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SCITI TRUST II

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