MONTREAL, Oct. 17 /CNW Telbec/ - Further to the announcement of the
Pan-Canadian Investors Committee for Third Party Structured Asset Backed
Commercial Paper that the standstill arrangements which were the foundation of
the Montreal Proposal have been extended to December 14, 2007, Global
Diversified Investment Grade Income Trust ("Global DIGIT") (TSX: DG.UN)
announces that the standstill agreement entered into with MMAI-I Trust
("MMAI") on September 22, 2007 has also been extended. The standstill
agreement with MMAI will now terminate on December 14, 2007, but may be
extended by mutual consent or terminated earlier in limited circumstances or
by either party upon 15 days prior notice.
Consequently, the previously announced suspension of distributions and
redemptions will continue until conditions otherwise allow for their
resumption thereof, which is the objective of the Trustees.
About Global DIGIT
Global DIGIT provides an economic interest in a mezzanine tranche of
credit default swap agreements in respect of portfolios of mortgage-backed
securities, asset-backed securities, structured finance securities and
synthetic corporate exposures.
MMAI is a special purpose vehicle rated R-1(high) (short-term) and AAA
(long-term) by DBRS that funds the purchase of eligible assets by issuing
asset-backed commercial paper, extendible commercial paper and floating rate
For further information:
For further information: François Rivard, (514) 879-6405,