CALGARY, ALBERTA--(Marketwire - Nov. 1, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

EnerVest Diversified Income Trust ("EnerVest" or the "Fund") (TSX:EIT.UN) announces that it has filed a final prospectus for an offering of warrants to unitholders of the Fund (the "Offering"). Each unitholder of record on November 11, 2011 will be entitled to one-quarter of a warrant for each EnerVest unit held.

At any time prior to the expiry date of 5:00 p.m. (Calgary time) on April 30, 2012 each whole warrant will entitle the holder to subscribe for one unit of EnerVest upon payment of the subscription price of $13.99. The subscription price represents a 5% discount to the most recently calculated net asset value per unit prior to October 27, 2011. The warrants are also subject to a call right provision, which becomes effective on January 11, 2012. If the trading price of the units exceeds the subscription price for ten consecutive trading days, the Fund has the right to call the warrants. If the warrants are called, investors will have 20 business days to exercise them, after which they will expire.

Warrants issued pursuant to the Offering will not be eligible to receive distributions. However, subject to applicable record dates, units received upon exercise of the warrants will be eligible to receive distributions from the Fund.

The warrants are being provided exclusively to EnerVest unitholders. Unitholders will have the opportunity to exercise their warrants to acquire additional units at a pre-determined price potentially lower than the market price of EnerVest units. Proceeds from exercise of the warrants will provide the Fund with additional capital, allowing the Fund to take advantage of investment opportunities and may reduce the ongoing management expense ratio of the Fund.

The warrants distributed under this prospectus have been conditionally approved for listing on the TSX under the symbol EIT.WT.B. The units issuable upon exercise of the Warrants will be freely tradable EnerVest units (EIT.UN). Once the warrants begin trading, investors will have the opportunity to buy or sell the warrants, which will trade independently of the existing EnerVest units. Warrants will be distributed to client accounts by brokers and custodians on a best-efforts basis after the record date. The Fund will pay an exercise fee of $0.30 per warrant at the time the warrant is exercised, payable to the investment advisor of the CDS participant whose client is exercising the warrant.

The warrants are not qualified for distribution in the United States of America. For further details please consult the final prospectus and your investment advisor. A copy of the final prospectus has been filed on SEDAR at [ www.sedar.com ]. Full details about this Offering will be available on our website at [ www.canoefinancial.com ] or you can contact us at 1-877-434-2796.

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 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. The Fund is managed by Bob Haber, an award-winning portfolio manager and former CIO of Fidelity Investments Canada.

About Canoe Financial

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 $1.5 billion in assets through its investment funds. 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.

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, which acts as the Portfolio Manager and Manager of the Fund.

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.