RBC Capital Markets announces holding of units of Global DiSCS



    TORONTO, Feb. 15 /CNW/ - Today, RBC Capital Markets ("RBC CM") announced
its ownership of units of Global DiSCS Trust 2004-1 (the "Trust") pursuant to
securities law reporting requirements.
    On September 5, 2006, RBC CM acquired 2,800 units of the Trust resulting
in an ownership of 286,200 (10.01 per cent) of the outstanding units of the
Trust. RBC CM acquired an additional 108,300 units of the Trust between
September 27, 2006 and December 18, 2007 representing an aggregate 394,500
units (17.29 per cent). As a result of redemptions by unitholders (336,735) on
December 31, 2007, RBC CM currently owns 394,500 units representing 20.29 per
cent of the outstanding units of the Trust.
    The units are redeemable by unitholders of the Trust on a quarterly basis
on the last business day of each calendar quarter at the prices and otherwise
on the terms as described in the Trust's public disclosure documents. The
units were acquired on The Toronto Stock Exchange in the ordinary course of
providing liquidity for unitholders of the Trust. RBC CM has currently
suspended purchasing units. RBC CM may elect to redeem some or all of its
units of the Trust on one or more of the fixed redemption dates. If sufficient
units are redeemed so that RBC CM's aggregate holdings are below 20 per cent,
RBC CM may at its option elect to resume purchasing securities for the purpose
of providing liquidity to unitholders. Any such purchases, if resumed, may be
terminated or suspended at any time at the option of RBC CM. As disclosed in
the prospectus, RBC CM is a party to a recirculation agreement whereby RBC CM
will agree to use commercially reasonable efforts to find purchasers for any
units tendered for redemption up two business days prior to the relevant
redemption date.
    The Trust is a closed-end investment trust established under the laws of
Ontario to provide unitholders with a fixed income investment offering
leveraged exposure to the credit risk of a diversified portfolio of 120 global
investment grade reference companies. The Trust's investment objectives are to
provide unitholders with a stream of quarterly distributions and to redeem all
outstanding units on or about December 20, 2009 at the original subscription
price.




For further information:

For further information: Media contact: Gillian Hewitt, Head of
Communications, RBC Capital Markets, Canada, (416) 974-0668


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