SCITI Trust II Declares Monthly Distribution

    TORONTO, April 17 /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 $0.1150 per Trust Unit, payable on May 15, 2007 to holders of
record at the close of business on April 27, 2007. Consequently, the twelve
month trailing distribution totals $1.3545 (April 2006 - $1.2715) per Unit.
    Unitholders are entitled to receive monthly distributions as declared by
the Trustee of SCITI II. The Trustee generally intends to declare and pay
monthly distributions to the extent of 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. As distributions are received by
SCITI II from the underlying income funds on a varying payout schedule,
amounts distributed by SCITI II will fluctuate from month to month.

    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:, Web site:

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