Recovery Rate With Respect To Ambac Assurance Corporation

MONTREAL, June 8 /CNW Telbec/ - Global Diversified Investment Grade Income Trust ("Global DIGIT") (TSX: DG.UN) announces that further to its press release dated March 26, 2010 announcing the Ambac Assurance Corporation default, the recovery rate with respect to this default was established at 20%.

Subsequent to this default and based on the recovery realized, the subordination levels (attachment points) and detachment points of the affected exposures of the portfolios D1, D3, D4, D5, E1, E3, E4, E5, F1, F3, F4 and F5, have been lowered by 0.8%. 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 June 4, 2010          At Inception
                            Subordina-                Subordina-
               Corporate         tion                      tion
                    Debt  (Attachment   Detachment  (Attachment   Detachment
    Portfolio   Exposure        Point)       Point        Point)       Point
    -------------------------------------------------------------------------
    D                  1         5.09%        6.54%        9.55%       11.00%
                       2         7.45%        9.45%       11.00%       13.00%
                       3         6.05%        8.05%       11.00%       13.00%
                       4         4.63%        6.33%        7.85%        9.55%
                       5         6.05%        7.50%        9.55%       11.00%
    -------------------------------------------------------------------------
    E                  1         6.54%        8.54%       11.00%       13.00%
                       2         6.00%        7.45%        9.55%       11.00%
                       3         2.90%        4.60%        7.85%        9.55%
                       4         6.33%        7.78%        9.55%       11.00%
                       5         7.50%        9.50%       11.00%       13.00%
    -------------------------------------------------------------------------
    F                  1         6.54%        8.54%       11.00%       13.00%
                       2         7.45%        9.45%       11.00%       13.00%
                       3         4.60%        6.05%        9.55%       11.00%
                       4         6.33%        7.78%        9.55%       11.00%
                       5         4.35%        6.05%        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.

SOURCE Global Diversified Investment Grade Income Trust

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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