Global Diversified Investment Grade Income Trust - Expected Net Asset Value as at August 31, 2007

    MONTREAL, Aug. 28 /CNW Telbec/ - On August 23, 2007, Global Diversified
Investment Grade Income Trust ("Global DIGIT") (TSX: DG.UN) announced that its
net asset value ("NAV") per unit as at July 31, 2007 was $9.05 based on an
indicative price received from Deutsche Bank A.G. (the "Bank") as of July 16,
2007. On the same date, the Trustee disclosed that it was expecting that the
price to be used to calculate the NAV as at August 31, 2007 would be
significantly lower than the price quoted as at July 16, 2007, in which case
the NAV for July 31, 2007 would be lower than $9.05.
    The Trustee has now received from the Bank the indicative price which
will be used to calculate the NAV as at August 31, 2007. If that indicative
price, which was based on market conditions known on August 28, 2007, had been
used to calculate the NAV as at July 31, 2007, the NAV would be $7.92,
representing a reduction of about 12.5% from the NAV calculated based on the
July 16, 2007 market conditions.
    The Trustee understands that the indicative price provided by the Bank
only relates to the value of the financial contracts entered into by Global
DIGIT. In particular, neither that price indication nor the NAV calculation
takes into account the recent turmoil in the Canadian asset-backed commercial
paper market and the fact that MMAI-I Trust ("MMAI"), the counterparty to the
financial contracts entered into by Global DIGIT, is one of the trusts
referred to in an agreement among a number of Canadian financial institutions
which was reported on August 16, 2007. A copy of the press release disclosing
that agreement is reproduced in a press release issued by Global DIGIT on
August 16, 2007. Any restructuring of the senior debt of MMAI may have an as
yet undetermined impact on the continuity or the size of payments made to
Global DIGIT under the financial contracts. The financial contracts between
Global DIGIT and MMAI, together with financial assets related to such
financial contracts, constitute most of the assets of Global DIGIT and any
material reduction or increase in their value will have a significant impact
on Global Digit's NAV.

    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.

    About MMAI

    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;

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Global Diversified Investment Grade Income Trust

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