Tax Optimized Return Oriented Securities Trust (TOROS) renews normal course issuer bid



    
    TSX Symbol:  TO.A
                 TO.UN
    

    TORONTO, Sept. 29 /CNW/ - Lawrence Asset Management Inc., the manager and
trustee of Tax Optimized Return Oriented Securities Trust ("TOROS") today
announced that TOROS has renewed a normal course issuer bid to purchase a
portion of the outstanding Income Securities (TSX: TO.A) and ROC Securities
(TSX: TO.UN) on the TSX. Under the normal course issuer bid, TOROS intends to
purchase up to 248,745 Income Securities, representing approximately 10% of
the public float, and up to 181,297 ROC Securities, representing approximately
10% of the public float. These purchases will be made in accordance with
applicable regulations over a maximum period of 12 months commencing on
October 1, 2008 and ending on the earlier of September 30, 2009 or on such
date as the Trust completes its purchase under the normal course issuer bid or
on such date as the Trust may otherwise determine. Income Securities and ROC
Securities purchased will be cancelled. Within the preceding 12 month period,
the Trust purchased 152,400 Income Securities and 14,700 ROC Securities for
cancellation. The Trust had 2,487,450 Income Securities and 1,812,969 ROC
Securities issued and outstanding as at September 19, 2008. The Trust will not
purchase in any given 30 day period, in the aggregate more than 49,749 Income
Securities, being 2% of the issued and outstanding Income Securities as at
September 19, 2008 and in the aggregate more than 36,259 ROC Securities, being
2% of the issued and outstanding ROC Securities as at September 19, 2008.

    TOROS invests in an actively managed diversified portfolio consisting
primarily of income funds, including commodity-based trusts, operating
business trusts, REITs and power and pipeline trusts. TOROS securities are
eligible as Canadian content. TOROS is managed by Lawrence Asset Management
Inc.

    This news release contains forward-looking statements that involve a
number of risks and uncertainties. Some of the factors that could cause actual
results to differ materially from those indicated are competitive pressures,
business conditions in the marketplace, general economic conditions and risk
factors detailed in the Trust's regulatory filings.

    %SEDAR: 00019441E




For further information:

For further information: Investor Relations, Catherine Stretch, (416)
362-6283, info@lawrenceasset.com, www.lawrenceasset.com

Organization Profile

TAX OPTIMIZED RETURN ORIENTED SECURITIES TRUST

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