Global Diversified Investment Grade Income Trust II - Monthly Distribution and Net Asset Value as at July 31, 2009



    MONTREAL, Aug. 5 /CNW Telbec/ - Global Diversified Investment Grade
Income Trust II ("Global DIGIT II") declares the following monthly
distribution consisting of a partial capital reimbursement:

    
    -------------------------------------------------------------------------
                                                                 TSX Closing
                                                                   Price Per
             Distribution                           Distribution  Unit as of
    Trading        Amount     Record        Payable       Amount    August 5,
    Symbol      (per unit)      Date           Date   Annualized        2009
    -------------------------------------------------------------------------
    GII.UN        $0.0687  August 31,  September 15,     $0.8244       $1.65
                                2009           2009
    -------------------------------------------------------------------------
    

    Global DIGIT II also announces that the net asset value ("NAV") per unit
as at July 31, 2009 is estimated to be $0.46.
    The NAV on a particular date is equal to the aggregate value of the
assets of Global DIGIT II, less the aggregate value of its liabilities.
Substantially all of the assets of Global DIGIT II consist of cash and three
credit default swaps entered into with Deutsche Bank A.G. and the related
collateral.

    About Global DIGIT II

    Global DIGIT II provides an economic interest in an equity tranche of
credit default swap agreements in respect of portfolios of mortgage-backed
securities, asset-backed securities, structured finance securities and
synthetic corporate exposures.




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 II

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