Global Diversified Investment Grade Income Trust - Recovery rate with respect to Syncora Guarantee



    MONTREAL, May 29 /CNW Telbec/ - Global Diversified Investment Grade
Income Trust ("Global DIGIT") (TSX: DG.UN) announces that further to its press
release dated May 8, 2009 announcing the Syncora Guarantee (f.k.a. XL Capital
Assurance Inc.) default, the recovery rate with respect to this default was
established at 15%.
    Subsequent to this default and based on the recovery realized, the
subordination levels (attachment points) and detachment points of the affected
exposures have been lowered by 0.85%. As a result, the number of additional
defaults Global DIGIT may sustain before being affected was reduced. Global
DIGIT will not suffer a loss due to this default. The new subordination levels
(attachment points) and detachment points, taking into account all prior
defaults, are detailed in the table below:

    
    -------------------------------------------------------------------------
                    As at May 29, 2009                  At Inception

    Port-  Corporate  Subordination                 Subordination
    folio     Debt     (Attachment    Detachment     (Attachment   Detachment
            Exposure      Point)         Point           Point)       Point
    -------------------------------------------------------------------------
               1           6.71%          8.16%          9.55%         11.00%
               2           9.14%         11.14%         11.00%         13.00%
    D          3           8.53%         10.53%         11.00%         13.00%
               4           6.79%          8.49%          7.85%          9.55%
               5           7.73%          9.18%          9.55%         11.00%
    -------------------------------------------------------------------------
               1           8.16%         10.16%         11.00%         13.00%
               2           7.69%          9.14%          9.55%         11.00%
    E          3           5.38%          7.08%          7.85%          9.55%
               4           8.49%          9.94%          9.55%         11.00%
               5           9.18%         11.18%         11.00%         13.00%
    -------------------------------------------------------------------------
               1           8.16%         10.16%         11.00%         13.00%
               2           9.14%         11.14%         11.00%         13.00%
    F          3           7.08%          8.53%          9.55%         11.00%
               4           8.49%          9.94%          9.55%         11.00%
               5           6.03%          7.73%          7.85%          9.55%
    -------------------------------------------------------------------------
    

    About Global DIGIT

    Global DIGIT provides an economic interest in a mezzanine tranche of
credit default swap agreements in respect of portfolios of corporate CDO
exposures, mortgage-backed securities and asset-backed securities.




For further information:

For further information: François Rivard, (514) 879-6405,
http://info.fbn.ca/trusts

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Global Diversified Investment Grade Income Trust

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