EnerVest Diversified Income Trust Announces Renewal of Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - Sept. 29, 2011) -

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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 21, 2011 EnerVest had 87,760,409 issued and outstanding units and had a public float of 87,625,547 units. Under the NCIB, in the next twelve months, EnerVest may purchase up to 8,762,554 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 21, 2011 represents 1,755,208 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 EnerVest.

The NCIB will commence on October 1, 2011, and will terminate on September 30, 2012 or at such earlier time as the NCIB is completed or terminated at the option of EnerVest.

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 the Fund

The Fund is one of Canada's largest, diversified closed-end investment funds and is listed on the TSX under the symbol EIT.UN. The Fund's portfolio manager is Bob Haber, an award-winning portfolio manager and former CIO of Fidelity Investments Canada. The Fund is actively managed and invests in a diversified portfolio of income- generating and capital-growth oriented securities listed primarily on the TSX. The Fund is designed to maximize distributions and net asset value for the benefit of its Unitholders.

About Canoe Financial LP

Canoe Financial is the Manager of the Fund. Canoe Financial is an investment management firm focused on building financial wealth for Canadians. Canoe currently manages approximately $1.6 billion in assets through its mutual funds and closed-end products. Canoe is a strong believer in Canada as a place to invest. With continued global urbanization, increasing worldwide demand for resources and its sound fiscal structure, we believe Canada provides long-term growth potential for investors.

To learn more about Canoe Financial, visit our website at www.canoefinancial.com.

Bob Haber is the Chief Executive Officer and Chief Investment Officer of Haber Trilix Advisors, LP, who is a sub-advisor to Canoe Financial LP.

Forward Looking Statement: Certain statements included in this news release constitute forward looking statements which reflect Canoe Financial's current expectations regarding future results or events. Words such as "may," "will," "should," "could," "anticipate," "believe," "expect," "intend," "plan," "potential," "continue" and similar expressions have been used to identify these forward-looking statements. Forward-looking statements involve significant risks and uncertainties and a number of factors could cause actual results to materially differ from expectations discussed in the forward looking statements including, but not limited to, changes in general economic and market conditions and other risk factors. Although the forward-looking statements are based on what Canoe Financial believes to be reasonable assumptions, we cannot assure that actual results will be consistent with these forward-looking statements. Investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the current date and we assume no obligation to update or revise them to reflect new events or circumstances.

This communication is not to be construed as a public offering to sell, or a solicitation of an offer to buy securities. Such an offer can only be made by way of a prospectus or other applicable offering document and should be read carefully before making any investment. This release is for information purposes only. Investors should consult their Investment Advisor for details and risk factors regarding specific strategies and various investment products.