EnerVest Diversified Income Trust

EnerVest Diversified Income Trust

April 16, 2010 19:16 ET

EnerVest Diversified Income Trust Announces April 2010 Distribution and Update on Warrants

CALGARY, ALBERTA--(Marketwire - April 16, 2010) -


EnerVest Diversified Income Trust ("EnerVest" or "the Fund") (TSX:EIT.UN) is pleased to announce the April distribution of $0.10 per unit. The record date for this distribution is April 30, 2010 and the payment date will be May 14, 2010. The ex-distribution date for this payment is April 28, 2010.

About the Distribution

EnerVest's objective is to deliver a consistent, high-yield, monthly cash distribution from a portfolio of income-generating and capital growth oriented securities. At current unit prices, EIT.UN is providing our unitholders with a yield of approximately 8.8%.

Update on the Warrants

Over the past several weeks the EnerVest units have been trading above the warrant subscription price of $13.31. EnerVest units are trading at $13.55 at the close of business on April 16, 2010. EnerVest wishes to remind warrantholders that by exercising their warrants and receiving EnerVest units prior to the April 30, 2010 distribution record date, they will be entitled to receive the next distribution of $0.10 per unit, paid May 14, 2010. The Fund will pay an exercise fee of $0.20 per warrant at the time the warrant is exercised. This fee is payable to the investment advisor of the CDS participant whose client is exercising the warrant.

Warrantholders who wish to exercise their warrants must instruct their investment advisor and provide payment equal to the subscription price for each warrant exercised. Once payment is received the warrants will be cancelled and the investor will receive EnerVest units. Investors are encouraged to consult directly with their investment advisor to confirm the time required to complete this process. Registered unitholders, those who hold a physical unit certificate, who wish to exercise warrants are encouraged to contact Computershare Trust Company of Canada directly at 1-800-564-6253.

About EnerVest

The Fund is Canada's largest, most liquid, diversified closed-end investment fund. The Fund is listed on the TSX under the symbol EIT.UN and is an actively managed, diversified portfolio of income-generating and capital growth oriented securities, listed primarily on the TSX, designed to maximize distributions and Net Asset Value for the benefit of its Unitholders.

Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect EnerVest Management Ltd.'s and its affiliates (the "Administrator") current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although the Administrator believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. The Administrator undertakes no obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.

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