EnerVest Diversified Income Trust
TSX : EIT.UN

EnerVest Diversified Income Trust

September 28, 2010 11:06 ET

EnerVest Diversified Income Trust Announces Renewal of Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Sept. 28, 2010) -

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EnerVest Diversified Management Inc. (the "Manager"), the Manager of EnerVest Diversified Income Trust ("EnerVest" or the "Fund") (TSX:EIT.UN), announced today that it has renewed its normal course issuer bid ("NCIB") with the Toronto Stock Exchange ("TSX"). The TSX has accepted EnerVest's Notice of Intention to have a NCIB in place.

As of September 24, 2010 EnerVest had 95,119,467 issued and outstanding units and had a public float of 94,914,532 units. Under the NCIB, in the next twelve months, EnerVest may purchase up to 9,491,453 of its issued and outstanding units on the open market through the facilities of the TSX, representing 10 percent of the public float. However, EnerVest may not purchase more than 2% of the issued and outstanding units during any 30 day period, which as at September 27, 2010 represents 1,902,389 units. The price which EnerVest will pay for any units purchased will be the prevailing market price of such units on the TSX at the time of purchase. Decisions regarding purchases of units pursuant to the NCIB will be made by the Manager.

The NCIB will commence on September 30, 2010, and will terminate on September 29, 2011 or at such earlier time as the NCIB is completed or terminated at the option of EnerVest.

During the 12 months preceding September 27, 2010, EnerVest repurchased 997,500 units at a weighted average trading price of $13.2647 per unit.

EnerVest believes that from time to time the purchase of EnerVest units for cancellation will increase the proportionate interest of, and be advantageous to, all remaining unitholders. Any purchases made by EnerVest may also afford increased liquidity to those unitholders of EnerVest who may wish to dispose of their units.

About EnerVest

The Fund is one of Canada's largest, most liquid, diversified closed-end investment funds. 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 Diversified Management Inc.'s (the "Administrator" or the "Manager") and its affiliates 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.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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