OpenSky Capital Managed Protection Income Trust Fund today announced it will hold a special meeting of unitholders to consider amendments to the trust’s investment objectives and dynamic exposure policy.

The meeting is scheduled for Feb. 15, 2007.

OpenSky is proposing to change declaration of trust such that it will remain designed to provide investors exposure to an equally weighted portfolio of up to 32 Canadian income trusts based on the top eight income trusts by float adjusted market capitalization as defined by the S&P/TSX capped income trust index, but will no longer seek to preserve capital by the implementation of a dynamic exposure policy.

The trust is proposing to pay unitholders monthly cash distributions that equal approximately 100% of the net distributions generated on the securities (after borrowing costs and expenses) which make up the portfolio (as opposed to the current level of distribution of approximately 75%).

The trustee will have the discretion to determine the trust’s exposure to the portfolio up to 133% of the net asset value and borrowings are expected to be made under the current credit agreement of the trust, subject to the lender’s approval.

Assuming the implementation of the proposed changes to the investment objectives and dynamic exposure policy and an exposure of 133%, the trust would have had, as of Dec. 14, 2006, annualized distributions of approximately 65¢ per unit based on its current portfolio composition and fees and expenses.

The proposed change is aimed at providing unitholders with improved distributions by increasing the level of exposure to a balanced portfolio of income funds.

The trustee believes this proposed change to be in the best interest of the unitholders, given the current state of the income fund market and the trust’s current investment level. As well, the trust will be in a better position to retain and attract investments that will be of benefit to all unitholders.

Unitholders will also be asked to approve an amendment to the declaration of trust to permit the issuance of additional trust units by way of private placements, exchange offers or public offerings for gross proceeds per unit that are not less than the net asset value per trust unit at such time.

The other terms and conditions of the trust’s declaration of trust will remain the same, including the possibility for unitholders to surrender units for redemption at net asset value less redemption costs at any time between Dec. 1 and Dec. 31 in any year for redemption on Jan. 15 in the following year.

A voting proxy and proxy circular will be mailed to unitholders on Jan. 19, 2007.

The proposed amendments must be approved by holders of at least 66 2/3% of the units present in person or by proxy at the special meeting.