Press Releases

First Asset Diversified Convertible Debenture Fund: Press Release

TORONTO, Tuesday, March 26, 2013 - On March 21, 2013, the Minister of Finance proposed certain measures which are expected to affect the tax treatment of distributions paid to taxable unitholders of investment funds that utilize forward agreements to obtain exposure to an underlying reference portfolio. Based on its review to date, First Asset believes that these changes will not affect First Asset Diversified Convertible Debenture Fund (TSX: DCD.UN) (the "Fund"), or the tax treatment of its distributions, until the expiration of the Fund's forward agreement in July, 2015. First Asset will provide additional detail to unitholders as it becomes available.

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

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Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities laws. Forward-looking information may relate to matters disclosed in this news release and to other matters identified in public filings relating to the Fund, to the future outlook of the Fund and anticipated events or results and may include statements regarding the future financial performance of the Fund. In some cases, forward-looking information can be identified by terms such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Actual results may vary from such forward-looking information. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be inaccurate. The opinions contained in this news release are solely those of the Manager and are subject to change without notice. The reference information was obtained from publicly available sources, and although the Manager believes that these independent sources are generally reliable, the accuracy and completeness of such information is not guaranteed and has not been independently verified. The Manager assumes no responsibility for any losses or damages, whether direct or indirect which arise from the use of this information and expressly disclaims liability for any errors or omissions of this information. The Manager does not assume any obligation, to update or revise these forward-looking statements to reflect new events or circumstances.