Skylon Growth & Income Trust Announces Proposal to Extend Term and Add Annual Redemption Right

    TSX Symbol: SKG.UN

    TORONTO, Feb. 2 /CNW/ - CI Investments Inc., the trustee of Skylon Growth
& Income Trust (the "Trust"), announced today that the Trust will seek the
approval of its unitholders to extend the term of the Trust by 10 years to
June 30, 2019 and add an annual right of unitholders to redeem their units at
their net asset value. The trustee also will seek 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.
    A special meeting of the unitholders of the Trust will be held on or
about March 31, 2009 to consider and vote on the proposal. Unitholders of
record at the close of business on February 27, 2009 will be entitled to
receive notice of the meeting. If approved, the first annual redemption date
will be December 31, 2010. In addition, unitholders will have a right to
redeem units on June 30, 2009 at their net asset value if the extension of the
Trust is approved. Details of the matters to be voted upon will be provided in
an information circular to be delivered to unitholders of the Trust in
connection with the special meeting.
    The units of the Trust are listed on the Toronto Stock Exchange under the
symbol SKG.UN.

    CI Investments Inc. is one of Canada's largest investment managers,
offering an industry-leading selection of investment funds. CI is a subsidiary
of CI Financial Corp. (TSX: CIX), an independent, Canadian-owned wealth
management firm with approximately $80 billion in fee-earning assets as of
December 31, 2008. CI is on the Web at

For further information:

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

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