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Canadian Energy Convertible Debenture Fund: Press Release

TORONTO, June 29, 2011 - Canadian Energy Convertible Debenture Fund (TSX: CFE.UN) (the "Fund") confirms that it will convert into an open-end mutual fund (the "Conversion") on July 8, 2011. The Fund's units will be delisted from the Toronto Stock Exchange at the close of business on July 4, 2011 in order to permit the completion of the Conversion.

For further information, please call Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.