Sarbit Asset Management Inc. has announced the reduction of the MER of its flagship fund, the Sarbit US Equity
Trust, and its OM product, the Sarbit Total Performance Trust, to reflect the
recent reduction in the GST.

The Sarbit US Equity Trust (A Class) will now have a capped MER of 2.72%.
Before the GST cut, the MER on the Sarbit US Equity Trust (A Class) was
capped at 2.75%.

The management fee on the Sarbit US Equity Trust (A Class) will remain the same at 2.25%.

The Sarbit US Equity Trust (F Class) will now have a capped MER of 1.66%.
Before the GST cut, the MER on the Sarbit US Equity Trust (F Class) was capped at 1.68%.

The management fee on the Sarbit US Equity Trust (F Class) will remain the same at 1.25%.

Sarbit will also be reducing the capped expense ratio on the Sarbit Total Performance Trust to 0.59%. Before the GST cut, the capped ER on the Sarbit Total Performance Trust was 0.60%