Strategic Energy Fund (TSX:SEF.UN) Amends Mandatory Market Purchase Program

A copy of the Fund's trust agreement, as amended, can be obtained upon request from Strategic Energy Management Corp. at The Exchange Tower, 130 King Street West, Suite 2850, P.O. Box 104, Toronto, Ontario M5X 1A4, telephone (416) 364-8788, facsimile (416) 364-5615 or under the Fund's profile on SEDAR at .

Strategic Energy Fund

Strategic Energy Fund is an investment trust that seeks to provide unitholders with superior rates of return and income through a diversification strategy focused primarily on investment opportunities in the Canadian energy sector. The Fund invests in established companies, early-stage energy companies and, to a lesser extent, special energy issuers, each with prospects for high growth in the near to medium term and the potential for long-term capital appreciation.

The Fund's investments in established companies, including energy royalty and income trusts, are made with a view to generate sufficient income to permit the Fund to make monthly cash distributions to unitholders.

Investments in early-stage energy companies are focused on both private and public issuers with strong, experienced management teams that have proven track records of enhancing shareholder value and successfully executing exit strategies. As well, the Fund may invest in undervalued issuers where Sentry Select Capital Corp., the investment advisor to the Fund, believes that capital appreciation can be realized.

Trading information

The Fund's units trade on the Toronto Stock Exchange ("TSX") under the symbol SEF.UN.

Sentry Select Capital Corp.

Sentry Select Capital Corp. ("Sentry Select"), a sub-advisor to the Manager, is a Canadian wealth management company that manages approximately $8 billion in gross assets as of October 31, 2007. Sentry Select offers a diverse range of investment products including closed-end trusts, mutual funds, principal-protected notes and flow-through limited partnerships, covering a variety of domestic and global mandates. With 29 reporting issuers, Sentry Select is the manager and/or advisor to more TSX-listed entities than any other investment manager. In addition, Sentry Select manages and/or provides advisory services to four reporting issuers listed on the TSX Venture Exchange.

Forward-looking statements

This news release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the future performance of the Fund, including the potential for future distributions. These statements reflect Sentry Select's current expectations, but are subject to a number of risks and uncertainties. Due to the many risks and uncertainties, Sentry Select cannot assure that the forward-looking statements contained in this news release will be realized.

The Exchange Tower130 King Street WestSuite 2850, P.O. Box 104Toronto, Ontario M5X 1A4Telephone:  (416) 861-8729Fax:  (416) 364-5615