Global Diversified Investment Grade Income Trust II - Monthly distribution and net asset value as at April 30, 2009

    MONTREAL, May 11 /CNW Telbec/ - Global Diversified Investment Grade
Income Trust II ("Global DIGIT II") declares the following monthly cash
distribution consisting of a partial capital reimbursement:

                                                                 TSX Closing
                                                                   Price Per
              Distribution                         Distribution   Unit as of
    Trading         Amount     Record     Payable        Amount        May 8,
    Symbol       (per unit)      Date        Date    Annualized         2009
                               May 29,    June 12,
    GII.UN         $0.0687       2009        2009       $0.8244        $0.93

    Since January 2009, Global DIGIT II declared distributions in an
aggregate amount of $2.0985 per unit, composed of five monthly distributions
of $0.0687 per unit and special distributions totalling $1.755 per unit.
    Global DIGIT II also announces that its net asset value ("NAV") per unit
as at April 30, 2009 is estimated to be $0.49.
    The NAV on a particular date is equal to the aggregate value of the
assets of Global DIGIT II, less the aggregate value of its liabilities.
Substantially all of the assets of Global DIGIT II consist of cash and three
credit default swaps entered into with Deutsche Bank A.G. and the related

    About Global DIGIT II

    Global DIGIT II provides an economic interest in an equity tranche of
credit default swap agreements in respect of portfolios of mortgage-backed
securities, asset-backed securities, structured finance securities and
synthetic corporate exposures.

For further information:

For further information: François Rivard, (514) 879-6405,

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Global Diversified Investment Grade Income Trust II

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