Global Diversified Investment Grade Income Trust - Net Asset Value as at July 31, 2007 - Further Decline in the Net Asset Value as at August 14, 2007

    MONTREAL, Aug. 23 /CNW Telbec/ - Global Diversified Investment Grade
Income Trust ("Global DIGIT") (TSX: DG.UN) announces 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. However,
the Trustee expects that the price to be used to calculate the NAV as at
August 31, 2007 will be significantly lower than the price quoted as at July
16, 2007. The Trustee should receive that price information within the next
few days. The Trustee will then publish its expected impact on the NAV.
    The Trustee understands that the NAV calculated as at July 31, 2007 does
not take into account the turmoil or events in the Canadian asset-backed
commercial paper market that occurred during the past two weeks.
    In addition, MMAI-I Trust ("MMAI"), the counterparty to the financial
contracts entered into by Global DIGIT, is one of the 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.

    Update on the Annual Redemption

    The Trustee is currently investigating the feasibility of completing the
annual redemption of units announced in a press release dated as at July 31,
2007. The Trustee will make an announcement once it will have received advise
from legal counsel and made a determination of the proper course of action
with a view of protecting the interest of its current stakeholders.

    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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