SCITI Trust II Declares Monthly Distributions

    TORONTO, Oct. 15 /CNW/ - The Board of Directors of SCITI Limited in its
capacity as Trustee for SCITI Trust II ("SCITI II") announces monthly cash
distributions of $0.1045 per Trust Unit for each record date in October to
December 2007. Including these distributions, the twelve month trailing
distribution will total $1.2895 (2006 - $1.3930) per Unit.

    Record and payment dates are as follows:

    Record Date           Payment Date
    -----------           ------------
    October 30, 2007      November 15, 2007
    November 29, 2007     December 14, 2007
    December 28, 2007     January 15, 2008

    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.
    Unitholders are entitled to receive monthly distributions as declared by
the Trustee of SCITI II. The Trustee intends to declare and pay an equal
monthly distribution to the extent of forecasted distributions to be received
for a calendar quarter from the underlying income funds in SCITI II's
portfolio, less SCITI II's estimated operating expenses for the period. Any
differences from the forecast will be adjusted in the following quarter.
    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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