Merger Details:

Effective December 28, 2007, Acuity Diversified Total Return Trust merged with Acuity Growth & Income Trust, with Acuity Growth & Income Trust the surviving fund. Acuity Diversified Total Return Trust holders received in exchange, 0.689882 units of Acuity Growth & Income Trust for each unit of Acuity Diversified Total Return Trust previously held. This resulted in a disposition of Acuity Diversified Total Return Trust as of the date of merger, December 28, 2007. Therefore, units of Acuity Growth & Income Trust received by former holders of Acuity Diversified Total Return Trust should be entered as a purchase using a value equal to the settlement amount of the disposition of the Acuity Diversified Total Return Trust previously held and using a purchase settlement date of December 28, 2007. The manager of the fund has advised that the Net Asset Value of Acuity Diversified Total Return Trust on December 28, 2007 was $7.895405 per unit.