Skylon Growth & Income Trust is an investment trust established in January 2004 with the objective of:

• Providing holders of Units with monthly distributions
• Endeavouring to preserve capital throughout the life of the Trust
• Enhancing the long-term total return of the Portfolio

The investment strategy involves an active asset allocation investment approach focused on diversification among various asset classes including income funds, high yield debt, dividend paying common shares, other common shares, other securities and cash.

• Active management approach provides investors with both yield and exposure to equity markets.
• Portfolio assets will be re-allocated amongst the various asset classes based on the Investment Advisor's view of current and anticipated market conditions

The Trust intends to pay monthly distributions. The Trust will annually determine and announce each February an Indicative Distribution amount for the following twelve months based upon the prevailing market conditions and the Manager's estimate of distributable cash flow for the year. The Indicative Distribution for the first twelve months is $0.70 per Unit representing a yield of 7.0% based on the $10.00 per Unit issue price. The Trust may make additional distributions provided certain conditions are met and the Manager considers it appropriate in the circumstances at such time. The first distribution following the closing of this offering is expected to be paid on April 15, 2004 to Holders of record on March 31, 2004.

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HIGHLIGHTS:

Five-year instrument with tax-effective monthly distributions - target 7.0% per annum

• Indicative distribution for the first twelve months will represent a yield of 7.0%, paid monthly.
• Indicative distribution rate will be announced annually thereafter.
• Investments will include income funds, high yield debt, dividend paying common shares, other common shares, other securities and cash, providing for asset class diversification.
• Asset allocation investment approach enables the Investment Advisor to adjust portfolio securities in order to enhance returns and reduce risk in changing market conditions.

First-class portfolio management
Proven Fund Management

The investment strategy involves an active asset allocation investment approach focused on diversification among various asset classes including income funds, high yield debt, dividend paying common shares, other common shares, other securities and cash.

Eric Bushell

• Eric Bushell is a Senior Vice-President, Portfolio Management and Chief Investment Officer at Signature Funds Group.
• Mr. Bushell has over 10 years of investment experience and was a finalist for Fund Manager of the Year at the 2001 Canadian Mutual Fund Awards.
• He manages the Signature Select Canadian Fund, which had assets in excess of $1.6 billion at December 31, 2003. This fund invests primarily in common shares, preferred shares that pay regular income, and convertible securities of Canadian companies.
• Signature Select Canadian Fund has performed strongly in recent years:

Named Best Canadian Equity Fund at the 2001 Canadian Investment Awards.

5-Star Morningstar Fund.

As at November 30, 2003, the fund's 3 and 5 year returns were ranked in the first quartile by Morningstar and exceeded the 3 and 5 year return of the S&P/TSX Composite Index..

Has generated a 5 year return and Sharpe ratio that have bettered 95% of Canadian Equity funds.

Disclaimer
Please read important information about the trust.