C Share Conversion

The Diverse Income Trust plc

Conversion of C Shares

Further to the Company's announcement on 28 September 2012 and as described in
the prospectus published on 27 June 2012, the C shares will be converted into
ordinary redeemable shares at the following rate calculated in accordance with
the Company's Articles of Association:

0.9418 ordinary redeemable shares for every C share (the "Conversion Ratio")

On the basis of the Conversion Ratio, a holder of 1,000 C shares will receive
941 ordinary redeemable shares.

Following conversion of the C shares, the enlarged number of ordinary
redeemable shares in issue will be 156,507,978.

The C shares will be delisted and cancelled with effect from 8.00 am on 2
October 2012 and an application has been made for 56,507,978 new ordinary redeemable
shares to be admitted to the Official List and to trading on the London Stock
Exchange from the same time and date.

Share certificates in respect of new ordinary redeemable shares are expected to
be despatched in the week commencing 1 October 2012.

Enquiries:

Gervais Williams   

MAM Funds plc

[e-mail]

078 1133 1824

Dion di Miceli

Cenkos Securities plc

[e-mail]

020 7397 1921