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First Asset Diversified Convertible Debenture Fund: Press Release

TORONTO, January 6, 2010 - First Asset Diversified Convertible Debenture Fund (TSX: DCD.UN) confirms the previously announced quarterly distribution of $0.30 per unit for the quarter ending December 31, 2009. The distribution will be paid on January 15, 2010 to unitholders of record on December 31, 2009.

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