Communiqués de presse

Triax CaRTS Technology Trust (TSX: TXR.UN) announces results of special unitholder meeting

TORONTO, Feb. 19 /CNW/ - Triax CaRTS Technology Trust (the "Fund") (TSX:TXR.UN), announces that Unitholders approved the Investment Mandate Change Resolution as outlined in the Management Information Circular dated January 5, 2007.

As a result, the new investment objectives of the Fund are to provide Unitholders with quarterly cash distributions and the opportunity for capital appreciation. The Fund's strategy will be to invest on an actively managed basis, in a diversified portfolio comprised primarily of Convertible Debentures of Canadian and US issuers.

In addition, the Fund will utilize existing losses to provide tax-efficient distributions, initially anticipated to be approximately $0.30 per Unit per quarter, commencing with the quarter-ended June 30, 2007, representing a yield of approximately 6.4% per annum based on the current market price. The Fund anticipates that all distributions will be returns of capital which are generally not subject to tax until all the non-capital loss carry forwards and other available expenses are fully utilized or expire. In addition, to the extent of the capital loss carry forwards, realized capital gains will be offset to provide tax free growth. As at December 31, 2006, the Fund had approximately $29.8 million of capital loss carry forwards and $10.9 million of non-capital loss carry forwards.

First Asset Investment Management Inc. will reduce its fee from a total of 1.20% to 0.75% of the Fund's NAV effective immediately. The service fee payable to dealers will be increased from 0.30% to 0.40%.

In connection with the mandate change, the portfolio, including the Forward Agreement, has been liquidated. The net asset value per Unit is $19.82 (as at February 19, 2007).

The Fund will change its name to "First Asset Diversified Convertible Debenture Fund" to better reflect its new investment strategy. It is anticipated that the Units of the Fund will begin trading under a new symbol (DCD.UN) on Thursday February 22, 2007.

The amendments are more fully described in the Management Information Circular dated January 5, 2007.

For further information: please call Paul Dinelle, (Executive Vice President), or Robert MacNiven (Director, Investor Relations) at (416) 362-2929 or 1-800-407-0287.


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