Press Releases

Triax Diversified High-Yield Trust Announces Distribution

TORONTO, ONTARIO--(May 21, 2008) - Triax Diversified High-Yield Trust (TSX:TRH.UN) announces a distribution for the month ending May 31, 2008 of $0.07 per unit. The distribution shall be paid on June 13, 2008 to unitholders of record on May 30, 2008.

The Trust offers unitholders 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 contact Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com.