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Canadian Convertible Debenture Fund: Press Release

TORONTO, April 14, 2011 - Canadian Convertible Debenture Fund (TSX:CDF.UN) (the "Fund") announces a distribution of $0.0625 per Unit for the month ending April 30, 2011. The distribution will be paid on or before May 13, 2011 to unitholders of record on April 29, 2011.

The Fund also announces that its units will be delisted from the Toronto Stock Exchange at the close of business on Monday, April 25, 2011 in order to permit the completion of the previously announced conversion to an open-end mutual fund scheduled for April 29, 2011.

For further information, Robert MacNiven (Investor Relations) at First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.