Scotia Managed Companies

Summary Statistics as at September 09, 2010

Units
Net Asset Value (NAV) per Unit	$11.27
Units Outstanding	2,123,766
Market Capitalization	$22,915,435
MER	1.50%
IPO Date	05/16/2006
Redemption Date	05/16/2011
Ticker Symbol	STF.UN
Issue Price	$10.00
Market Price (TSX)	$10.79
Trailing 12-Month Distribution	$0.0000

Distribution Policy

Unitholders are not expected to be paid distributions by the Trust as all net distributions paid on the Portfolio will be reinvested.

Retraction Rights

The following provides a summary of the retraction rights available to Unitholders. Please refer to the prospectus for complete details.

Unlike most mutual funds the Units are listed allowing holders to exit by selling their Units. In addition, they are also retractable at any time. Because of the manner in which the retraction prices are calculated, investors are almost always better off selling their Units on the market rather than retracting them. It should be noted that all the retractions listed below constitute a taxable disposition of the Units at the time of the retraction whether the retraction is received in the form of cash or portfolio shares.

Regular Retraction

Units may be surrendered for retraction at least 10 business days prior to the 15 th of each month for payment on the last day of each month or the preceding business day. Unitholders are entitled to receive a redemption price equal to the lesser of (i) 95% of the market price of the Units; and (ii) 100% of the closing market price of the Units on the applicable monthly valuation date less, in each case, any costs associated with the redemption, including brokerage costs.

Special Annual Retraction

The special annual retraction date occurs on December 31 st of each year. Units may be surrendered for retraction on or before the close of business on the 10 th business day prior to the day which occurs on December 15 of each year. On that date Unitholders are entitled to receive a cash retraction price per Unit equal to 100% of the net realized proceeds per unit determined as of the Valuation Date.

Redemption

The Trust is scheduled to wind up on May 16, 2011, and at that time, the Trust will distribute to Unitholders their pro rata portion of the net assets of the Trust.

Taxation

A Unitholder will generally be required to include in computing income for a taxation year the amount of the Trust's net income, including net realized taxable capital gains, paid or payable to the Unitholder in the taxation year. The non-taxable portion of the Trust's net realized capital gains paid or payable (whether in cash or in Units) to a Unitholder in a taxation year will not be included in the Unitholder's income for the year.

On the disposition or deemed disposition of a Unit, the Unitholder will realize a capital gain (or capital loss) to the extent that the Unitholder's proceeds of disposition, net of any reasonable costs of disposition, exceed (or are less than) the adjusted cost base of the Units. For the purpose of determining the adjusted cost base to a Unitholder, when a Unit is acquired, the cost of the newly acquired Units will be averaged with the adjusted cost base of all Units owned by the Unitholder as capital property before that time.

Directors and Officers

The following are the names, office(s) held and principal occupations of the directors and officers of the Company:

Name	Office(s) Held	Principal Occupation
Brian D. McChesney	President, Chief Executive Officer and Director	Managing Director, Scotia Capital Inc.
Stephen D. Pearce	Chief Financial Officer, Secretary and Director	Director, Scotia Capital Inc.
Michael K. Warman	Director	Corporate Director
Peter L. Slan	Director	Senior Vice President, Investor Relations, Scotiabank
Michael A. Hasley	Director	Corporate Director
Geoffrey Hyland	Director	Consultant, Shawcorp. Ltd.
Robert J. Huggard	Director and Chairman	Consultant