Global Diversified Investment Grade Income Trust II - Unusually large trading volumes and substantial price declines

MONTREAL, May 12, 2014 /CNW/ - The trustee of Global Diversified Investment Grade Income Trust II ("Global DIGIT II") has been informed that further to unusually large trading volumes and substantial price declines on Friday May 9, 2014 and Monday May 12, 2014, the TSX had suspended the trading of the units of Global DIGIT II.

Global DIGIT II issues press releases twice a month as well as continuous disclosure documents on a regular basis. During the last 12-month period, the net asset value ("NAV") of Global DIGIT II has varied between a high of $0.40 and a low of $0.32 per unit. The reduction in the NAV over this period is partly explained by special distributions totaling $0.047 per unit.

The financial situation of Global DIGIT II is described more particularly in Note 2 to the 2013 audited Financial Statements and discussed in Section 1 - Investment Objectives and Strategies - of the 2013 Management Report of Fund Performance, both posted on SEDAR (www.sedar.com) on March 26, 2014. Reference is made to these documents for additional information on Global DIGIT II.

Global DIGIT II is unaware of any facts which have not been previously disclosed that could materially change the situation of Global DIGIT II, financially or otherwise.

About Global DIGIT II

Global DIGIT II provides an economic interest in an equity tranche of a credit default swap agreement in respect of portfolios of residential mortgage-backed securities, commercial asset-backed and mortgage-backed securities, consumer asset-backed securities, structured exposures to mortgage-backed and asset-backed and corporate securities.

SOURCE GLOBAL DIVERSIFIED INVESTMENT GRADE INCOME TRUST II

For further information: Louis Arteau : 514-394-7563, http://info.fbn.ca/trusts