SCITI Trust Announces Pricing of Follow-on Offering

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, May 28, 2013 /CNW/ - SCITI Limited, in its capacity as trustee (the "Trustee") for SCITI Trust (the "Trust"), is pleased to announce that it has priced its follow-on offering at $12.83 per unit and is in the process of filing a final prospectus in each of the provinces and territories of Canada.

The Trust is an investment trust whose investment portfolio consists of the 50 highest yielding members of the Scotia Capital High Yield Equity Index (the "Index") on an approximately equal weight basis, subject to a 25% sector weighting restriction, in order to provide unitholders with a diversified and high yielding portfolio. The Index has been designed to track the 75 highest yielding equity securities listed on the TSX without regard to corporate structure or liquidity and subject to a number of tests related to market capitalization and distribution sustainability.

The syndicate of agents for the offering is led by Scotia Bank and includes BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Genuity Corp., Desjardins Securities Inc., GMP Securities L.P., Macquarie Private Wealth Inc. and Raymond James Ltd.

The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. There will not be any sale or any acceptance of an offer to buy the units until a receipt for the final prospectus has been issued. No receipt has yet been issued for the final prospectus. The final prospectus contains important detailed information about the units being offered. Once a receipt has been issued, copies of the final prospectus may be obtained from your registered financial advisor. Investors should read the prospectus before making an investment decision.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

SOURCE: SCITI Trust