Press Releases

First Asset Diversified Convertible Debenture Fund Announces Estimated Quarterly Distribution for December 2007

TORONTO, December 18, 2007 - First Asset Diversified Convertible Debenture Fund (TSX: DCD.UN) announces an estimated quarterly distribution of $0.30 per unit for the quarter ending December 31, 2007. The distribution will be paid on January 15, 2008 to unitholders of record on December 31, 2007.

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