Skylon Growth & Income Trust announces approval to extend term and add annual redemption right

    TSX Symbol: SKG.UN

    TORONTO, April 14 /CNW/ - CI Investments Inc., the trustee of Skylon
Growth & Income Trust (the "Trust"), announced that unitholders of the Trust
have approved the proposal to extend the term of the Trust by 10 years to June
30, 2019 and to add an annual right of unitholders to redeem their units at
their net asset value. The trustee also has been given the authority to
terminate the Trust early if the net asset value of the Trust falls to a level
that the trustee believes is not beneficial to unitholders.
    As a result of these changes, unitholders will have the right to redeem
some or all of their units on December 31 each year (commencing with December
31, 2010) at the net asset value thereof by providing notice to the trustee to
that effect not less than 30 days and not more than 60 days prior to the
applicable redemption date. In addition, each unitholder will have a one-time
right to redeem all (but not less than all) of the unitholder's units on June
30, 2009 at the net asset value thereof by delivering notice to that effect to
the trustee not later than 4:00 p.m. (Toronto time) on June 15, 2009.
    The units of the Trust are listed on the Toronto Stock Exchange under the
symbol SKG.UN.

For further information:

For further information: David R. McBain, Senior Vice-President, CI
Investments Inc., (416) 681-6568

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