Global Diversified Investment Grade Income Trust II advises of a correction to the management report of fund performance and the annual financial statements



    MONTREAL, April 24 /CNW Telbec/ - Global Diversified Investment Grade
Income Trust II (TSX: GII.UN) (the "Trust") wishes to correct certain clerical
errors contained in its April 2, 2007 filing of the Management Report of Fund
Performance ("MRFP") for the year ended December 31, 2006. The table relating
to the 2006 credit ratings allocations for the "Credit Exposure C" in the MRFP
erroneously reproduced the rating allocations for the "Credit Exposure A". The
errors for the "Credit Exposure C" are illustrated in the table below:

    
                      Incorrect figures              Correct figures
                      December 31, 2006            December 31, 2006
              (by equivalent S&P rating)   (by equivalent S&P rating)
              --------------------------   --------------------------
    Rating                  % of Assets                  % of Assets
       AAA                         83.7                         49.5
        AA                          3.2                         13.5
         A                         13.1                         35.5
       BBB                            -                          1.5
    

    The same information also appeared in the schedule "Derivative
Instruments and Reference Obligations Portfolios - Swap Agreement C" attached
to the Annual Financial Statements as at December 31, 2006 (the "Financial
Statements") which should be adjusted accordingly.
    The Trust emphasizes that the above clerical errors do not affect the
consolidated statements of net assets of the Trust as at December 31, 2006,
the consolidated statements of operations, changes in net assets and cash
flows for the year ended December 31, 2006 or the accompanying notes to the
Financial Statements. Accordingly, the adjustment does not have any impact on
the net assets per unit or net income per unit.
    The Trust has refiled today the MRFP and the Financial Statements on
SEDAR with the corrected information.




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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