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Triax Diversified High-Yield Trust

TORONTO, Dec. 17 /CNW/ - Triax Diversified High-Yield Trust (TSX: TRH.UN) announces an estimated distribution for the month ending December 31, 2003 of $0.07 per unit. The distribution shall be paid on January 15, 2004 to unitholders of record on December 31, 2003.

Triax Diversified High-Yield Trust offers its investors the opportunity to increase their holdings of units through the convenience provided by its Distribution Reinvestment Plan. All distributions that are reinvested will be used to purchase additional units of the Trust. In order to take advantage of the Plan on the upcoming distribution, Unitholders should contact their investment advisor as soon as possible.

For further information: please call Triax at (416) 362-2929 or (800) 407-0287