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First Asset Diversified Convertible Debenture Fund: Distribution Press Release

TORONTO, June 18, 2010 - First Asset Diversified Convertible Debenture Fund (TSX: DCD.UN) announces a quarterly distribution of $0.30 per unit for the quarter ending June 30, 2010. The distribution will be paid on or before July 15, 2010 to unitholders of record on June 30, 2010.

For further information, please contact Rob MacNiven, Investor Relations at 416-642-1289 or 1-877-642-1289 or visit www.firstassetfunds.com.