SCITI Trust II Declares Monthly Distribution



    TORONTO, Jan. 20 /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 $0.1000 per Trust Unit. Consequently, the twelve month
trailing distribution totals $1.4645 (2008 - $1.2895) per Unit.
    Record and payment dates are as follows:

    
    ------------------------------------------------------------------------
    Record Date         Payment Date         Distribution Amount/Trust Unit
    ------------------------------------------------------------------------
    January 29, 2009    February 13, 2009                $0.1000
    ------------------------------------------------------------------------
    

    Unitholders are entitled to receive monthly distributions as declared by
the Trustee of SCITI II. The Trustee intends to declare and pay monthly
distributions to the extent of forecasted distributions to be received for a
calendar quarter from the underlying income funds in the portfolio, less the
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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