Communiqués de presse

Triax Diversified High-Yield Trust announces distribution

TORONTO, July 21 /CNW/ - Triax Diversified High-Yield Trust (TSX: TRH.UN) announces a distribution for the month ending July 31, 2004 of $0.07 per unit. The distribution shall be paid on August 13, 2004 to unitholders of record on July 30, 2004.

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 call Triax at (416) 362-2929 or (800) 407-0287