Clarington Diversified Income + Growth Fund and Focused 40 Income Fund Announce Distributions

    TORONTO, May 14 /CNW/ - IA Clarington Investments Inc. ("IA Clarington"),
on behalf of Clarington Diversified Income + Growth Fund (TSX: DIF.UN) and
Focused 40 Income Fund (TSX: FIF.UN), is pleased to announce that
distributions will be paid on June 11, 2009 to unitholders of record at the
close of business on May 29, 2009. The Clarington Diversified Income + Growth
Fund will pay $0.0583 per unit and the Focused 40 Income Fund will pay $0.0625
per unit, both unchanged from the previous month.
    The Clarington Diversified Income + Growth Fund is intended to preserve
and grow capital and deliver an attractive level of income by investing in a
widely diversified portfolio of income trusts, high-yield bonds,
investment-grade bonds, and growth-oriented and dividend-paying equities.
    The Focused 40 Income Fund was created to provide investors with monthly
cash distributions through broad exposure to some of the largest and most
liquid income trusts in Canada. This Fund invests in an approximately
equal-weighted diversified portfolio of the 40 large-cap income trusts that
the investment advisor believes will provide a more favourable total return
than the universe of large-cap income trusts as a whole.
    Distributions paid by each fund will vary with the performance of the
underlying portfolio and may change over time. Distributions may include a
return of capital. If the proposed mergers of the two funds, scheduled for
June 26, 2009, are approved, there will be no further distributions paid by
the two funds after June 11, 2009, except in connection with the mergers.
    For further information please contact us at 1-888-860-9888 or visit our

    About IA Clarington Investments Inc.

    IA Clarington managed approximately $6.1 billion in mutual fund and
closed-end fund assets as at April 30, 2009. IA Clarington maintains offices
in Toronto, Calgary, Vancouver, Montreal and Quebec City.

For further information:

For further information: Eric Frape, Senior Vice-President, Product and
Business Development, IA Clarington Investments Inc., (416) 860-9880,
Toll-Free 1-888-860-9888, Email:

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IA Clarington Investments Inc

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