First Asset Diversified Convertible Debenture Fund
			Symbol			DCD.UN
			Shares Issued			4,949,726
			Close 2009-02-25			C$ 12.26
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First Asset Diversified receives TSX buyback approval

2009-02-26 12:58 ET - News Release

Mr. Rob MacNiven reports

FIRST ASSET DIVERSIFIED CONVERTIBLE DEBENTURE FUND ANNOUNCES NORMAL COURSE ISSUER BID FOR UNITS

First Asset Diversified Convertible Debenture Fund has received acceptance from the Toronto Stock Exchange (TSX) for the fund's notice of intention to make a normal course issuer bid (NCIB).

Pursuant to the NCIB, the fund proposes to purchase, through the facilities of the TSX, from time to time, if it is considered advisable, up to 451,463 units of the fund, representing approximately 10 per cent of the public float, which is the same number as the fund's issued and outstanding units, being 4,514,637 units as of the date hereof. The fund will not purchase, in any given 30-day period, in the total, more than 90,292 units, being 2 per cent of the issued and outstanding units as of the date hereof. Purchases of units under the NCIB may commence on March 1, 2009. The board of directors of First Asset Investment Management Inc., the manager of the fund, believes that such purchases are in the best interests of the fund and are a desirable use of the fund's funds. All purchases will be made through the facilities of the TSX, in accordance with its rules and policies. All units purchased by the fund pursuant to the NCIB will not be cancelled and will be held for resale. The NCIB will expire on Feb. 28, 2010.

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