Communiqués de presse

Canadian Convertible Debenture Fund: Press Release

TORONTO, March 22, 2011 - Canadian Convertible Debenture Fund (TSX: CDF.UN) (the "Fund") announces a distribution of $0.0625 per Unit for the month ending March 31, 2011. The distribution will be paid on or before April 15, 2011 to unitholders of record on March 31, 2011.

The Fund also announces that it will convert into an open-end mutual fund (the "Conversion") on or about April 30, 2011 (the "Conversion Date"). Unitholders of record on the Conversion Date will receive the regular monthly distribution for April, which will be paid on or about May 15, 2011. Following the Conversion, the distribution rate of $0.0625 per unit per month will continue until further notice.

Following completion of the Conversion, the units of the Fund will be redeemable daily via FundSERV at net asset value less an amount equal to the redeeming unitholder's pro rata portion of the promissory note outstanding at the time of redemption (currently approximately, $0.48 per unit). Important information: Unitholder accounts which are deemed to be non-resident of a Canadian province will not be allowed to hold units of the Fund following the Conversion and, accordingly, will be redeemed shortly after the Conversion is completed.

For further information, please call Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit